Evergreen To Spin Off K-Fuel To Chinese Group

Law360, New York (January 7, 2010, 2:32 PM EST) -- Evergreen Energy Inc. announced plans Thursday to spin off its K-Fuel technology — which cleans coal before it is burned — to the investment arm of a major Chinese conglomerate, a move the company said would facilitate the development of a commercial-scale K-Fuel plant in Inner Mongolia.

Denver-based Evergreen said it will hand the technology to a subsidiary corporation, Clean Coal China, in which the unnamed Chinese conglomerate and its affiliates are slated to make an investment.

The majority of the proceeds of that investment will...
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