COVOL Technologies Inc. announces joint venture with PacifiCorp.LEHI, Utah--(BUSINESS WIRE)--Nov. 12, 1996--Covol Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) Tuesday announced that it has signed a letter of intent with an unregulated Adj. 1. unregulated - not regulated; not subject to rule or discipline; "unregulated off-shore fishing" regulated - controlled or governed according to rule or principle or law; "well regulated industries"; "houses with regulated temperature" 2. subsidiary of PacifiCorp to build and operate a coal fines processing facility in Birmingham, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . The coal facility is designed to produce 360,000 tons per year of high quality synthetic coal briquettes from waste coal fines, using Covol's patented technology. Coal fines are particles <onlyinclude> This is a list of particles in particle physics, including currently known and hypothetical elementary particles, as well as the composite particles that can be built up from them. of coal smaller than 1/4 inch in diameter and generally are not desirable prior to processing due to material handling and transportation difficulties. As part of the transaction, a PacifiCorp subsidiary would advance up to $5 million under a convertible loan facility to Covol over the next six months. A PacifiCorp subsidiary also obtained the rights to participate in up to two additional plants of up to 360,000 tons each. Covol officials have stated that the completion of the transaction will mark a significant milestone for the company. Covol Technologies specializes in recovering valuable resources from industrial waste by-products. In addition to coal briquettes, Covol has also successfully produced high grade, low residual iron from iron rich waste materials that are generated during steel manufacturing. Covol Technologies Inc. is a technology development company focused on recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. yesterday's waste into tomorrow's resources. PacifiCorp is a large, low-cost electric and telephone utility, serving 2.5 million customers in the West, Midwest and Australia. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481; fax 801/768-4483 or PacifiCorp Scott Hibbs, 503/731-2123 |
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