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Coalview Ltd. LLC announced that it has acquired all of the assets belonging to KeLa Energy LLC.
Coalview Ltd. LLC announced that it has acquired all of the assets belonging to KeLa Energy LLC. David Schwedel, Coalview’s executive director and lead investor, said that KeLa’s assets will allow his company to custom blend fuel products as per customers’ requests.
As quoted in the press release:
Terms of the acquisition, which closed on March 24, 2014 include the conversion of loans along with equity contributions made to KeLa by Miami energy technology investor, David Schwedel, and the assumption of certain KeLa liabilities by Coalview’s subsidiary, Coalview KeLa, LLC. Coalview KeLa, LLC will be 90% owned by Coalview, Ltd., LLC and 10% by KeLa Energy, LLC.
Roger Fish, president and CEO of Coalview, said:
KeLa’s technology provides our customers with a water resistant, environmentally improved coal product. This engineered product has shown significant emission reductions through EPA methodology testing.
Our goal is to improve on KeLa’s existing technology to lower SOx, NOx, and VOC emissions even further.
Click here to read the full Coalview Ltd. LLC press release.
Click here to read Coal Investing News’ recent interview with Coalview.