K-Fuel(TM) Production Expected to Begin Before Year-end
DENVER, Sept. 28 /PRNewswire-FirstCall/ -- KFx Inc. (Amex: KFX) announced
today that it has entered into agreements with subsidiaries of Black Hills
Corporation (NYSE: BKH) for a K-Fuel(TM) test burn program, and for the
supplemental supply of coal to the Company's 750,000 ton per year (TPY) plant
at the Fort Union mine in Gillette, Wyoming. The agreements come as the plant
nears completion and prepares to begin production, which is expected before
the end of 2005.
Our agreement is to conduct a K-Fuel(TM) test burn program with Black
Hills Power & Light Co., scheduled to begin later this year and continue into
early 2006 at the Neil Simpson I Power Plant in Gillette, WY. The test
program is expected to consist of three phases consisting of handling and
monitoring.
Separately, KFx has entered into a 16-month coal supply agreement for the
Fort Union facility with Wyodak Resources Development Corp., also a subsidiary
of Black Hills Corporation. Under the terms of the agreement, Wyodak's
Gillette, WY, mine will supply up to 35,000 tons per month of low-rank PRB
coal based on a price index adjusted for BTUs to supplement the KFx mine
production.
"Our first K-Fuel(TM) plant is nearing completion, and these agreements
with the Black Hills companies are important for the commercialization of our
product," commented Ted Venners, Chairman and Chief Technology Officer. "We
have been hard at work putting the finishing touches on the facility, with the
cold-commissioning team ready to start work in the next few days. We have
accomplished a lot in a relatively short period of time, and look forward to
beginning to produce K-Fuel(TM) this year."
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.
Website: http://www.kfx.com
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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