CORAL GABLES, Fla.--(BUSINESS WIRE)--Coalview Ltd., LLC, a developer of fine coal recovery plants designed to provide recovery and environmental solutions for mining property owners, is pleased to announce that it has completed $42 million of project financing for its subsidiary, Coalview Centralia, LLC, to construct a waste processing and fine coal recovery plant in Centralia, WA.
The $42 million project was financed by lead investor, David A. Schwedel, a Miami, FL based energy technology investor, and Coalview Investment Partners I, LLC; $26.5 million of Environmental Facilities Revenue Bonds issued by The Washington Economic Development Finance Authority which create no public debt and use no tax funds for repayment; and more than $10 million of capital equipment contributions. Project implementation of the 200 ton per hour (TPH) fine coal recovery plant began this month, and is scheduled to complete construction within 12 months.
“Our Coalview team has worked diligently to bring this project through to fruition,” stated David A. Schwedel, Director of Coalview Ltd., LLC, “We are grateful to the State of Washington for their cooperation, and for the assistance of our entire working group”.
Coalview Centralia, LLC expects to have more than 25 full time personnel operating the plant. “Centralia has a highly qualified mining, administrative, and finance talent pool, and we are looking forward to working with local constituents to move this process forward,” stated David Henry, President, Coalview Recovery Group, LLC, the management company responsible for the project.
About Coalview Ltd.
Coalview is an industry leader in the design, development, construction, management and operation of coal fines recovery plants. The company’s fine coal recovery plants are designed to provide recovery and environmental solutions for mining property owners. The company specializes in the removal and processing of waste materials, and is the only company with a sample extraction technique, an in-house laboratory, design and operating techniques to handle entire project from start to finish. To learn more about Coalview Ltd., please visit www.coalview.com.