Getting your player ready...
Evergreen Energy Inc. announced Thursday that it had an agreement to spin off its K-Fuel coal technology to a subsidiary that would draw Chinese investment, the company said in a statement.
The new subsidiary, Clean Coal China, would be in line for Chinese investment to develop the technology that makes a higher quality fuel from low-ranked lignite, the Denver-based company said.
Evergreen Energy and the Chinese investors would jointly own Clean Coal China.
Evergreen China, a joint venture between Evergreen Energy and Chinese industry investors, has also signed a letter of intent with a large Chinese- integrated utility and chemical manufacturer to build a K-Fuel plant in Inner Mongolia, the company said.
