Covol Technologies announces payment of a $500,000 deposit on coal processing equipment and a $500,000 deposit on engineering plans for its coal processing facilities.Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CVOL CVOL Control Volume ) Friday announced that it has made the deposit required under its agreement with Lockwood Greene for the construction of its 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. Processing plants, and for the associated coal processing equipment. The total amount deposited was $1 million. These plants are to be built in 1996 in order to take advantage of the Section 29 Tax Credits for Producing Fuel From a Nonconventional Source. These Coal Processing Plants use Covol's patented technology to convert waste coal fines into a solid synthetic fuel. Kirby Cochran, Covol's president, stated, "Covol is on target to meet all of its operational objectives for 1996." 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. CONTACT: Covol Technologies Inc., Lehi Alan Ayers, 801/768-4481; Fax: 801/768-4483 |
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