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Evergreen Announces Program to Develop Activated Carbon Product

^{Published on 2011-09-16 01:02:03 - Market Wire}
 

DENVER--([ BUSINESS WIRE ])--Evergreen Energy Inc. (NYSE Arca: EEE) is pleased to announce today that it has resumed research and development effortsto apply the K-Fuel®technology to manufacture activated carbon products. Kevin Milliman, head of Evergreena™s K-Fuel^® team, will lead the engineering staff which expects to build from the Companya™s existing research and testing results.

Activated carbon is a form of carbon that is specifically processed to make it extremely effective for promoting absorption or chemical reactions, which are essential in many industrial processes. The many and varied uses of activated carbon include: medicine; extraction and purification of gold and other metals; gas and water purification; and the treatment of sewage. Activated carbon is especially vital in environmental applications such as groundwater remediation, toxic spill cleanup, and removal of pollutants from air and water; it is widely used to capture mercury emissions from coal-fired power stations and natural gas at the wellhead.

aBy utilizing Evergreena™s unique knowledge and expertise, the company will take full advantage of reinvigorating valuable progress, including proprietary research and development, which has been made but not previously exploited. In this regard, Evergreen is delivering on its stated commitment to ensure that all aspects of the hidden value of the K-Fuel^® process can be brought to bear in the near future,a said Ilyas Khan, Evergreena™s Chairman.

aActivated carbon prices have recently reached historic highs, selling at US$1,000 per ton and higher. With the activated carbon market expected to reach 2.3 million metric tonnes by 2017, our strategic activated carbon initiative is important not just for Evergreen, but for the greater domestic and international markets. Evergreen started its work in activated carbon in the mid-1990s, suspending its development work in 1998 after producing test quantities of activated carbon. As a result of these efforts, the company possesses a great deal of valuable process knowledge. I expect to provide the market with more details of how we will build on these past efforts to take this product to a commercial development state in due course and in any event no later than the end of October, 2011,a said Mr. Khan.

Evergreen Energya™s core K-Fuel^® technology lends itself to a number of other value added products, of which activated carbon is just the first to be re-initiated. The ability of the K-Fuel^® process to uniquely upgrade coal by reducing equilibrium moisture has been clearly demonstrated using sub-bituminous and lignite feedstock. Associated research applying this and related technologies to a range of high and low rank coal and biomass feedstocks has led to promising developments in metallurgical coal applications, such as Pulverized Coal Injection (PCI), pre-treatment of low rank coal for gasification feedstock and other potential products of which activated carbon is the most advanced.

Evergreen Energy Inc.

Evergreen Energy Inc. (NYSE Arca: EEE) offers environmental solutions for energy production and generation industries, primarily through its patented clean coal technology, K-Fuel^®. K-Fuel^® significantly improves the performance of low-rank sub-bituminous and brown coals and lignite. The process yields higher efficiency levels, which are variable depending on the type of coal processed, by applying heat and pressure to low-rank coals to reduce moisture. For more information, please visit the companya™s website at [ www.evgenergy.com ].

Safe Harbor Statement

Statements in this release that relate to future plans or projected results of Evergreen Energy Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended by the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), and Section 21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all such statements fall under the "safe harbor" provisions of the PSLRA. Our actual results may vary materially from those described in any "forward-looking statement" due to, among other possible reasons, the realization of any one or more of the risk factors described in our annual or quarterly reports, or in any of our other filings with the Securities and Exchange Commission. Readers of this release are encouraged to study all of our filings with the Securities and Exchange Commission. Our ability to execute our business plan and develop the K-Fuel^® or GreenCerta" technologies and the successful development and operation of our Southern Coal Holdings venture with WPG Resources (aSCHa) may be adversely impacted by unfavorable decisions in pending litigation, the inability of Green Bridge Holdings to make future payments under the terms of the sale of the Landrica Development Company assets and our Ft. Union Plant, the inability to raise sufficient additional capital in a timely manner to pursue the development of the technology or the development and operation of SCH, unsuccessful exploratory activities with respect to the identified SCH coal deposits, the inability to successfully apply the K-Fuel^® technology to SCHa™s coal deposits, the inability of SCH to obtain regulatory approval for its activities, adverse conditions for the marketing and sale of upgraded coal, the ability to successfully develop and commercialize other applications of the K-Fuel® technology (including the development of an activated carbon product), and the ability of the Company to successfully maintain and defend its patents, including the application of such patents to other uses of the K-Fuel^® technology. Readers of this release are cautioned not to put undue reliance on forward-looking statements.