Covol Announces Licensing Agreement With Pelletco Corp., an Affiliate of Palmer Capital and Logan Capital.LEHI, Utah--(BUSINESS WIRE)--Sept. 11, 1997--Covol Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) announced that it has entered into a new licensing agreement with Pelletco Corp., a special purpose entity affiliated with Palmer Capital Corp. and Logan Logan, city (1990 pop. 32,762), seat of Cache co., N Utah, on the Logan River; inc. 1859. It is the center of an irrigated dairy and farm area, with huge cheese plants, other food-processing facilities, and diverse manufactures. Capital Co. Pelletco has obtained its license for up to six synthetic coal agglomeration ag·glom·er·a·tion n. 1. The act or process of gathering into a mass. 2. A confused or jumbled mass: projects, for a total of up to 2,160,000 tons per year of synthetic fuel Synthetic fuel or synfuel is any liquid fuel obtained from coal, natural gas, or biomass. It can sometimes refer to fuels derived from other solids such as oil shale, tar sand, waste plastics, or from the fermentation of biomatter. output. Pelletco had previously entered into construction contracts prior to Dec. 31, 1996. Palmer Capital and Logan Capital are each privately-held companies involved in the development, structuring and financing of energy projects. Since 1981, Palmer Capital has arranged over $200 million in financings for energy projects utilizing waste products; many of these projects are owned by affiliates of Palmer Capital. Logan Capital has been involved in over 35 projects with total financing of over $360 million since 1991. Separately, Coalco Corp., another affiliate of Palmer Capital and Logan Capital, has been assisting Covol in the placement of financing for Covol's own synthetic coal agglomeration projects. Covol retains a substantial interest in the net revenues from the potential Pelletco projects. Pelletco plans to use Covol's patented technology to convert coal fines into marketable Marketable are securities that can be easily converted into cash. Such securities will generally have highly liquid markets allowing the security to be sold at a reasonable price very quickly. synthetic fuel. 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. -0- Forward looking statements in this release involve a number of risks and uncertainties including, but not limited to, product demand, market acceptance, changing economic conditions, risks in product and technology development, the effect of the company's accounting policies and other risk factors detailed in the company's SEC filings. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481 fax 801/768-4483 |
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