Covol Technologies Inc. announces that Utah Synfuel No. 1 is now producing Covol's patented synthetic coal product at a rate of 400 tons per day.LEHI, Utah--(BUSINESS WIRE)--Dec. 19, 1996--Covol Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) Thursday announced that Utah Synfuel syn·fu·el n. A liquid or gaseous fuel derived from coal, shale, or tar sand, or obtained by fermentation of certain substances, such as grain. [syn(thetic) + fuel.] No. 1, the company's first full-scale synthetic coal production facility, has completed the start-up phase and is moving into full production. To date the plant has produced over 1,500 tons of Covol's patented synthetic coal product. Covol will continue to expand the facility's production capacity by bringing on a second and third shift to operate the plant 24 hours per day. The plant is using Utah bituminous coal bituminous coal: see coal. bituminous coal or soft coal Most abundant form of coal. It is dark brown to black and has a relatively high heat value. fines which, after processing with Covol's proprietary binding technology, have a Btu value of approximately 12,500 Btu per pound. Covol's patented process changes coal fines (small coal particles ranging from dust to less than 1/4" in diameter) into a solid 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. which qualifies for tax credits under Section 29 of the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. Code. In addition to extending the nation's fuel reserves Covol's patented technology significantly benefits the environment through economical disposal of these waste by-products of coal production. Covol's Vice President of Engineering, Steve Brown, said, "Utah Synfuel No. 1 is a world class manufacturing facility and we are very encouraged by how quick we have been able to bring it on line. This plant will serve as the prototype for all of our additional plants moving forward." Covol Technologies Inc., is a technology development company focused on recycling yesterday's waste into tomorrow's resources. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481 801/768-4483 (Fax) |
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