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Commercial Development
Evergreen Energy is looking at a variety of locations to build K-FuelŪ and K-Direct production facilities. Facilities may be located at mine production sites, terminal facilities, and/or facilities that have excess steam. K-Direct plants co-located with new or existing generating stations offer the added advantages of using secondary steam to refine raw low-rank coal feedstocks. With a K-Direct plant at a generating site, coal users can shop the world market for abundant, low-rank coal, process it on site and feed it directly into their boilers.
The actual locations chosen will be dictated by the inherent economics and market flexibility that each site provides. In addition, Evergreen Energy is in discussions with a number of foreign-based entities that are interested in licensing our technology for use overseas. Evergreen Energy plans to develop and operate K-FuelŪ and K-Direct production plants domestically, either wholly owned or through joint ventures, and through international licensing to third parties.
Evergreen Energy Ft. Union Plant, Gillette, Wyoming
In June 2004, Evergreen Energy purchased the Fort Union mine site near Gillette, Wyoming as the location for a commercial K-FuelŪ production facility. The site includes approximately 1,000 acres of land, a rail loop with load out facilities, a coal crusher, related buildings, water disposal wells and about 1 million tons of coal reserves. The project is fully-funded by Evergreen Energy with 100% equity. The plant began production at the end of 2005.
Initial output from the facility will be 750,000 tons per year (tpy). The 750,000tpy plant processes low-rank feedstocks, including subbituminous coals and lignites. Evergreen Energy expects that with the first commercial plant in operation the development of future plants will be accelerated.
Coal Creek Mine, Wyoming
Evergreen Energy announced in October 2005 a master agreement which incorporates long-term, market-based coal supply, site lease, and operating agreements for the construction and operation of an 8MMtpy K-FuelŪ plant at Arch Coal, Inc.'s Coal Creek mine. Evergreen Energy will be responsible for financing, constructing and operating the Plant. The Plant will be located on a site adjacent to the coal mine pit.
Initial permitting and engineering for the site have already begun.
K-Direct, Various Locations
Per its first quarter 2007 conference call, Evergreen Energy is currently in discussions with over a dozen coal consumers interested in K-Direct projects. This includes utilities, industrial users of coal and independent power producers. Evergreen Energy signed Agreements with two major utilities to advance the integration of several K-Direct coal refineries in both existing and new coal power plants. The Agreements signed in December 2006 call for the parties to proceed with engineering, design and test burns of applicable coals for the specific plants. As of the Q107 conference call, Evergreen Energy noted that it was in Phase II of discussions with the 2 utilities. Phase II involves the due diligence process that utilities use to evaluate and adopt projects.
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