KFx changes name to Evergreen Energy
The Denver Business Journal - 12:18 PM MDT Tuesday
denver.bizjournals.com
For 10 years, Denver oil and gas man Mark Sexton built Evergreen Resources Inc., a natural gas producer, from a $30 million company to regional powerhouse that sold in 2004 for $2.1 billion to Dallas-based Pioneer Natural Resources Co.
Tuesday, his new company, Denver-based "clean" coal manufacturer KFx Inc., said it's changing its name: to Evergreen Energy Inc.
KFx will trade on the American Stock Exchange at symbol "KFX" until Friday, Sept. 29, when it switches to the New York Stock Exchange trading under the "EEE" symbol.
"Changing our listing and name has been an element of our strategic plan since I joined the company one year ago," CEO Sexton said in a news release. "The name Evergreen Energy Inc. captures our key attributes, namely our commitment to delivering clean energy and our strategy to vertically integrate our operations as an energy production company."
The company's product name will stay the same: K-Fuel.
K-Fuel is Western coal that's been treated with pressure and heat to reduce the moisture content and boost its heating abilities. It also strips impurities, including mercury, from the coal and reduces emissions of carbon dioxide, sulfur dioxide and nitrogen oxide.
Sexton was also named board chairman, replacing Ted Venners, who will remain as chief technology officer and a company director.
The company also said board director Richard Spencer, on the board since 2002, will resign effective Sept. 30 because Evergreen expects to consider joint ventures and financing projects with Spencer's investment firm.
"Both the company and Mr. Spencer believe that it is appropriate for Mr. Spencer to leave the board to avoid the appearance of any potential conflicts of interest," the release said.
In a separate announcement, the company said a train shipment of K-Fuel will head for an industrial customer in the Great Lakes region on Sept. 27, with a second shipment schedule to load next week for additional customers in the region. |
