Company Overview

White Energy Company Limited is a public company (ASX: WEC / OTCQX: WECFY) based in Sydney, Australia and focused on the commercialization of coal upgrading technologies. White Energy owns the global marketing rights to the White Coal Technology, a patented process that dehydrates lower grade coals to improve the heat energy content and quality of these coals. The White Coal Technology upgrades lower grade coals into higher grade briquettes with properties similar to higher grade and value bituminous coals.

White Energy’s Process

The White Coal Technology is cost-effective and operationally superior to competing technologies. Raw feed coal is crushed and dried, obliterating its water content. The dry, crushed coal is then compacted, creating tight bonds between the coal particles and eliminating nearly all voids. The result is a higher-density, higher-energy briquette with low permeability and reduced propensity toward spontaneous combustion. To date more than 20,000 tons of coal has been upgraded in testing programs, including samples from Australia, China, Indonesia, South Africa and the US.

White Energy's Benefits

• Higher energy content: increases heat—the useable energy content—by between 30% and 200%, creating valuable power generation efficiencies.
• Mechanical process: a mechanical process that is designed to work at coal mines, not a complex chemical process.
• Low upgrading costs: favorable conversion economics allow the product to compete with bituminous coals.
• Lower spontaneous combustion risk: upgraded coal is physically and chemically stable, and can be handled, stored and transported as normal coal.
• Lower transportation costs: process reduces moisture, resulting in up to 30% decrease in load volumes and concomitant transportation costs.
• Reduced greenhouse gas and pollutant emissions: more efficient burning results in lower CO2, SO2, NOx and Hg emissions.
• Reduced levels of coal dust: significantly reduces the quantity of dust when compared with unprocessed sub-bituminous coal.

White Energy's Strategy

White Energy aims to act as an enabling technology partner. Coal upgraded by the White Coal Technology can supply each stage of the coal technology lifecycle, offering significant environmental benefits. White Energy will continue to improve its existing process, and will invest in developing its technology with an emphasis on coking coal applications. White Energy also aims to invest in coal technologies for the future. The Company will continue to develop and acquire synergistic technologies in coal upgrading and emissions reductions, in response to the growing global market for coal and related end products. Developing a unique suite of coal upgrading and emissions reductions technologies will enable White Energy to partner with a growing number of players in the coal value chain. White Energy will continue its drive toward achieving key player status in a zero emissions world.

Recent Developments

• Asia Special Situation Acquisition Corp. (ASSAC) Merger: In December 2008, White Energy signed a framework agreement with ASSAC in regard to merging elements of its business into ASSAC. It is anticipated that the merged entity will be owned and managed by White Energy and have cash reserves of US$110 million. In March 2009, the Company expanded the original merger to include worldwide rights and the utilisation of funds to drive business development in each of its key markets – Indonesia, USA and Africa.
• Tabang Production Plant (Indonesia): Construction of the first 1MTPA main production module at the Bayan Resources Tabang Mine in Indonesia was completed on schedule at the end of March 2009. Commissioning of the main production module commenced April 2009 with production ramping up to full capacity over the 6 month period ending September 2009.
• Buckskin Mining Agreement (North America): Coal supply and site services agreement signed with Buckskin Mining (an indirect wholly owned subsidiary of Kiewit Corporation) to develop a coal upgrading facility in the Powder River Basin near Gillette, Wyoming. The estimated US$80 million facility is expected to be operational in H1 CY2010.
• Black River Asset Management (Africa): In November 2008, the Company signed a JV agreement with Black River to jointly develop and commercialise White Energy’s coal upgrading technology throughout Africa. Black River has committed US$70 million for its 49% interest in the joint venture company.
• Cessnock Production Plant (Australia): Construction of a 90,000 TPA commercial scale production plant at Cessnock, NSW was completed in August 2008 and has since been successfully used for coal upgrading activities. The project was partly funded by the Australian Commonwealth Government through an A$4.35 million AusIndustry grant.
• Adaro Group / Itochu Corporation (Indonesia): Feasibility process successfully completed during 2008, expecting to commence construction activities in late 2009.
• Datang International Power (China): Financial feasibility about to conclude. If agreement to proceed, next steps involve finalising structure and agreeing commercial terms for a JV with Datang.
• Mongolyn Alt / IB Daiwa (Mongolia): In February 2009, signed development agreement to conduct a feasibility study to evaluate the economic, technical and logistical viability of constructing coal upgrading plants in Mongolia.
• International OTCQX Listing: The Company’s US ADR program began listing on the International OTCQX as of 23 July 2008.
• Convertible Notes Issue: In October 2007, completion of a A$45 million unsecured Convertible Notes issue was announced.
• Other Business Development: Continued active review of a number of other business development opportunities in the United States, Indonesia, China, Mongolia, Africa, India, Russia and South America.

White Energy Company Profile
Download file

White Energy Company Fact Sheet
Download file

Next: Board of Directors »