New K-Fuel(TM) Plant to be Located at Buckskin Mine in Wyoming
DENVER, Sept. 28 /PRNewswire-FirstCall/ -- KFx Inc. (Amex: KFX) announced
today an option for long-term coal supply and site lease agreements with
Buckskin Mining Company, a wholly-owned subsidiary of Kiewit Mining Group
Inc., to allow for the construction and operation of a 4 million ton per year
(TPY) K-Fuel(TM) plant. The plant is to be located at Buckskin Mining
Company's Buckskin Mine in the Powder River Basin (PRB) in Wyoming, and is
anticipated to be initially majority owned and operated by KFx.
"We are pleased that an agreement has been signed allowing for a
K-Fuel(TM) facility to be located at the Buckskin Mine site, as this location
was one of our original choices to build a K-Fuel(TM) plant. With start-up of
our first commercial plant at Fort Union set for later this year, we are
diligently working to sign coal supply and site lease agreements for future
growth. This is one of many future site and supply agreements being put
together by KFx for rapid expansion of K-Fuel(TM) for the market," commented
Ted Venners, Chairman and Chief Technology Officer.
Initial permitting and engineering for the Buckskin Mine site have already
begun. KFx estimates that the plant could be constructed and in operation by
the end of 2008.
About KFx Inc.
KFx provides solutions to help coal-burning facilities economically
increase energy production while meeting emissions standards. The Company's
mission is to deploy its patented K-Fuel(TM) process to transform abundant
U.S. and worldwide reserves of cheaper sub-bituminous coal and lignite into
clean, affordable, efficient energy supplies.
Please visit http://www.kfx.com for more information.
Forward-Looking Statements
Statements in this news release that relate to future plans or projected
results of KFx or the Company are 'forward-looking statements' within the
meaning of Section 27A of the Securities Act of 1933, as amended by the
Private Securities Litigation Reform Act of 1995 (the "PSLRA"), and Section
21E of the Securities Exchange Act of 1934, as amended by the PSLRA, and all
such statements fall under the 'safe harbor' provisions of the PSLRA. The
Company's actual results may vary materially from those described in any
'forward-looking statement' due to, among other possible reasons, the
realization of any one or more of the risk factors described in the Company's
Annual Report on Form 10-K, or in any of its other filings with the Securities
and Exchange Commission, all of which filings any reader of this news release
is encouraged to study. Readers of this news release are cautioned not to put
undue reliance on forward-looking statements.
SOURCE KFx Inc.
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Related links:
http://www.kfx.com
CONTACT:
Analysts, Andreas Vietor, Director of
Investor Relations of KFx, Inc., +1-303-293-2992; or Media,
Michele Clarke, or Jill Gumberg, both of Brainerd Communicators,
Inc., +1-212-986-6667, for KFx, Inc.
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