Is EEE a Ponzi Scheme? 6 minutes ago Absolutely not!
EEE is undertaking the arduous mission of taking a clean coal technology to full scale commercial production. Along the way they have had success developing the product, K-Fuel, that has been test burned at many facilities (First Energy, Alleganey Power, Black Hills Power, Notre Dame, etc..). The results were spectacular. Just type in 'K-Fuel test burn' into google and you will see that all test burns showed lower Mercury, Nitrogen Oxide, Sulfur Dioxide, and Carbon Monoxide emissions.
The gross error was the engineering design of their K-fuel plant in Gillete, Wyoming. They could never produce the product in large scale because of faulty plant design.
Since 2006, the company has fired the engineering firm, fired the CEO, and replaced the Chairman of the Board.
Events have been positive since the new transition. EEE has signed an agreement with Bechtel Corp. Bechtel has designed a new efficient plant. The enhanced design incorporates performance, efficiency and reliability features will lead to constructing commercially viable plants. Some of the improvements engineered into Bechtel’s design include:
• Four processors instead of two; twice the capacity
• A significant reduction in structural steel per processor
• Increases in processing capacity per hour
• 20% (40 ft.) reduction in tower height
• Less concrete, small-bore piping, conduit and cable
• Significantly reduced energy consumption
• Significantly improved waste water management
• Elimination of decompression vessels
In Sept, 2007, EEE signed an "Agreement to Proceed" with specifications and design work that lead to the construction of a K-Fuel([R]) lignite coal refinery in the Inner Mongolian Autonomous Region of the People's Republic of China (PRC). The agreement was signed with a subsidiary of China Power Investment Corporation (CPI), one of the five state-owned power generation companies in China.
In Jan 2008, Evergreen Energy Inc. and Sumitomo
Corporation agreed with a major Indonesian mining group to proceed with development of engineering specifications, economic evaluation, marketability analysis and further coal tests for a 1.5 million ton per year K-Fuel® coal refinery on the Indonesian island of Kalimantan, with the intent to expand the plant capacity in future years.
In March 2008 they expanded their engineering team to support its ongoing business development needs and prepare for the construction of future K-Fuel® plants. They added three key positions to its strengthened engineering department. These positions, a lead process engineer, process control engineer, and manager of environmental and regulatory issues, and other new engineering hires at the company in the past six months. Evergreen’s enlarged and improved engineering team is under the leadership of Steve Wolff, executive vice president of engineering, and Dr. John D. Winter, vice president of engineering, who both joined the company in 2006.
And they have a new Chairman of the Board that is a proven leader with vision. He is energy and capital markets veteran William H. Walker, Jr. former president of Howard Weil Inc., a respected energy and capital
formation firm.
I have read a few of your posts and you obviously have a motive for posting negative mistakes that EEE has made in the past. The fact is that current management has turned the company around. The next phase in the Indonesia plant developement is eminent. When the construction phase is announced EEE stock will easily double.
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