Jefferson Riverport Project

White Energy is exploring developing a coal upgrading plant located at the Jefferson Riverport, a coal terminal on the Ohio River.

White Energy has been granted final approval from the Louisville Metro Air Pollution Control District to build a coal upgrading facility in Louisville, Kentucky.

In addition, White Energy has been approved by the Kentucky Economic Development Finance Authority (“KEDFA”) to receive up to $US8.4 million in economic incentives in the form of tax rebates and credits over a 25-year term under the Commonwealth of Kentucky’s Incentives for Energy Independence Act (“IEIA”) Tax Incentive Program.

Based on these two significant milestones, White Energy is now in a position to advance its plans for a Coal Upgrading project in Louisville. Final feasibility work is to be completed and a decision is to be made by the Board as to whether the Company will proceed with the Riverport project.

The proposed Jefferson Riverport Project would be built with an initial capacity of 250,000 tonnes per annum, with the intent to expand capacity to 500,000 tonnes per annum within the first two years of operation.

Jefferson Riverport offers several unique advantages for White Energy’s proposed Coal Upgrading project. It has a robust transportation infrastructure with access to both barge and rail transportation. Louisville is also ideally located from a demand perspective with a number of coal fired power plants located within a 50 mile radius of the proposed Coal Upgrading facility who require high energy, low sulfur, low ash coal. It is envisaged that the White Energy’s Coal Upgrading plant will also look to process Kentucky waste coal fines, potentially unlocking the residual energy value of an existing waste by-product.