ConvertCoal, Inc.

ConvertCoal, Inc. has developed a new, proprietary process to extract and upgrade synthetic crude oil from sub-bituminous and lignite low-rank coals. Based on current U.S. low-rank coal production, up to 2 million barrels per day of domestic synthetic crude oil can be produced by utilizing our new CCI coal conversion process to support existing low-rank coal power plants. This would increase domestic crude oil production by 25% and effectively double the U.S.'s proven oil reserves. Using our process would reduce foreign crude imports by 11% or over $50 billion dollars per year based on recent energy prices.