alarm:clock

Alternative Energy - Monday, February 26, 2007

Clean Coal Maker CoalTek Raises $33M

CoalTek out of Tucker, GA has raised $33M in third-round funding, according to VentureWire. Lightspeed Venture Partners was joined by return backers including Draper Fisher Jurvetson.

CoalTek has developed a proprietary process technology to convert low rank, mine-run coals into high-rank, clean coal alternative fuels for use by coal-fired electric utilities. CoalTek sells a pre-burn clean coal solution to the 1.1 billion ton/year utility marketplace. This proprietary technology claims to increase BTU content by up to 33% while reducing SO2 and other impurities by up to 70%.

We recently made an amazing return speculating on a public coal barge company. Given our constant focus on tech, we were amazed that so much can be made in an object we associate with depressing Dickens' tales. So we are not surprised to see that Coaltek has admirers.

View - site