PROJECT AWARDED TO CFOAM BY THE U.S. DEPARTMENT OF ENERGY
CFOAM Limited, CFOAM Corp (75% owned by CFOAM Limited, 25% owned by CONSOL Energy
Inc) and its operating entity CFOAM LLC, Triadelphia, West Virginia, (CFOAM) wish to provide the following update to the ASX release of 14 December 2020:
The DOE has awarded the CFOAM proposal for “Continuous Processing of Carbon Foam Products Made from Coal at Amtmospheric Pressure” (or CFOAM Project) for a total project value of US$2,421,802
The CFOAM project is to commence on 1 January 2021
This project will target applications capable of utilizing carbon foam at large scale, transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications).