Stanhill Makes $30M Play For Evergreen's Coal Tech

Law360, New York (October 4, 2011, 9:42 PM EDT) -- Environmental solutions company Evergreen Energy Inc. said Tuesday that it is contemplating selling its coal-refining technology to merchant banker Stanhill Capital Partners, a major stakeholder, for $30 million.

Stanhill Capital proposed paying $30 million for Evergreen’s patented K-Fuel technology, which improves the efficiency and emission-levels of low-grade coal, prompting Evergreen to form a committee to examine the offer.

The special committee, advised by Cooley LLP, is considering the proposal and “other strategic alternatives,” Evergreen said. Final approval for the sale requires support from Evergreen’s stockholders and...
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