Southern Coal Holdings Appoints Wayne Rossiter Chief Executive Officer
06 Julho 2011 - 4:15AM
Business Wire
Evergreen Energy Inc. (NYSE Arca:EEE) and WPG Resources Limited
(ASX:WPG) appointed Wayne Rossiter as the Chief Executive Officer
of Southern Coal Holdings (SCH), the joint venture established to
produce K-Fuel® in Australia using Evergreen’s coal upgrading
technology.
Ilyas Khan, Executive Chairman of Evergreen Energy, stated: “We
are very pleased to have an executive with Wayne’s experience and
capabilities to lead this exciting venture. His mining engineering
background, coupled with his extensive accounting and finance
skills, offers a valuable understanding of both operational and
boardroom risks. We look forward to working with Wayne and
developing the overall resources within Southern Coal
Holdings.”
Bob Duffin, Chairman of WPG Resources, stated: “Wayne’s broad
management skills and his understanding of the coal sector will be
an asset to SCH. His appointment is an important milestone in the
realization of our vision of converting vast untapped coal
resources into viable energy to service the growing energy demands
of the Asian marketplace.”
Wayne Rossiter stated, “I am excited about the opportunity to
lead SCH in this phase of its development. The strategic
combination of coal assets and upgrading technology is entering the
market at an opportune time and I intend to leverage my 20 years’
experience leading natural resources companies to guide SCH as we
build the first K-Fuel® plant in Australia and create a company
that will be of significance to both WPG and Evergreen.”
Wayne Rossiter, 42, is both a mining engineer and a chartered
accountant. Most recently, Rossiter served as CFO and remains a
Director of Clean Global Energy Limited, an international energy
company that can produce Syngas for use in heating, power
generation and the production of chemicals, fertilizers, ultra
clean diesel and aviation fuels. Prior to that position, he held
senior finance and management roles in significant resource
companies including Core Mining, Sino Gold Mining, Cockatoo Coal
and Roc Oil. Rossiter has knowledge and experience in transitioning
companies from the exploration stage through to development and
into production. His global range of experience includes coal seam
gas operations with Planet Gas in the Powder River Basin in
Wyoming, USA. Conventional oil and gas experiences were gained
through his time with Novus Petroleum, operating in Australia,
Indonesia, the USA, and the Middle East, and with Roc Oil Company
Ltd, with projects in the UK, China, Australia and Africa.
Wayne Rossiter's academic qualifications include a Bachelor of
Mining Engineering with honors from the University of New South
Wales, a second Major in Accounting at Sydney's University of
Technology, and a Masters in Accounting through the Australian
Institute of Chartered Accountants. His Masters of Finance was
completed at Macquarie University. Rossiter is a Member of the
Australasian Institute of Mining and Metallurgy, a Member of the
Australian Institute of Chartered Accountants and a Graduate Member
of the Australian Institute of Company Directors.
Southern Coal Holding (SCH), based in Sydney, is a joint venture
between equal partners, WPG Resources Limited (ASX: WPG) whose core
business is iron ore, and Evergreen Energy Inc. (NYSE Arca: EEE),
which developed the K-Fuel® technology.
SCH holds substantial coal assets in South Australia including
the sub-bituminous and lignite coals located at the Penrhyn and
Lochiel project areas. Using the K-Fuel® process, the calorific
value of such coals can be substantially upgraded creating an
enhanced value product with reduced greenhouse gas emissions and
other environmental benefits. Under the terms of the joint venture
agreements SCH holds the exclusive license for the first 15 million
tonnes per annum of K-Fuel® produced anywhere in Australia and has
the first right of refusal to participate in production of K-Fuel®
in excess of this amount.
A maiden JORC compliant estimate of resources for the Penrhyn
deposit is expected to be completed by SCH in the coming weeks.
Evergreen Energy Inc.
Evergreen Energy Inc. (NYSE Arca: EEE) offers environmental
solutions for energy production and generation industries,
primarily through its patented clean coal technology, K-Fuel.
K-Fuel significantly improves the performance of low-rank
sub-bituminous and brown coals and lignite. The process yields
higher efficiency levels, which are variable depending on the type
of coal processed, by applying heat and pressure to low-rank coals
to reduce moisture. For more information, please visit the
company’s website at www.evgenergy.com.
Safe Harbor Statement
Statements in this release that relate to future plans or
projected results of Evergreen Energy Inc. are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended by the Private Securities Litigation Reform Act
of 1995 (the "PSLRA"), and Section 21E of the Securities Exchange
Act of 1934, as amended by the PSLRA, and all such statements fall
under the "safe harbor" provisions of the PSLRA. Our actual results
may vary materially from those described in any "forward-looking
statement" due to, among other possible reasons, the realization of
any one or more of the risk factors described in our annual or
quarterly reports, or in any of our other filings with the
Securities and Exchange Commission. Readers of this release are
encouraged to study all of our filings with the Securities and
Exchange Commission. Our ability to execute our business plan and
develop the K-Fuel® or GreenCert™ technologies and the successful
development and operation of our Southern Coal Holdings venture
with WPG Resources (“SCH”) may be adversely impacted by unfavorable
decisions in pending litigation, the inability of Green Bridge
Holdings to make future payments under the terms of the sale of the
Landrica Development Company assets and our Ft. Union Plant, the
inability of MR&E Ltd. to make its scheduled payments under the
terms of the sale of the Boiler Island, the inability to raise
sufficient additional capital in a timely manner to pursue the
development of the technology or the development and operation of
SCH, unsuccessful exploratory activities with respect to the
identified SCH coal deposits, the inability to successfully apply
the K-Fuel technology to SCH’s coal deposits, the inability of SCH
to obtain regulatory approval for its activities, and/or adverse
conditions for the marketing and sale of upgraded coal. Readers of
this release are cautioned not to put undue reliance on
forward-looking statements.
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