KeLa specialises in coal-based fuel made up of recovered coal fines, recycled binding materials and renewable biomass.
Terms of the acquisition closed on March 24 and included the conversion of loans along with equity contributions made to KeLa by Miami-based energy technology investor David Schwedel, and the assumption of KeLa liabilities by Coalview’s subsidiary, Coalview KeLa.
“This acquisition continues to strengthen our positioning as a fully integrated coal technology leader,” said Coalview executive director and lead investor David Schwedel.
“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,” Coalview president & CEO Roger Fish said.
