Two Az Companies Accelerate Breakthrough With Clean Coal-to-Liquids

Diversified Energy Corporation & Alchemix Corporation (Carefree, AZ) announced that the 2 companies have completed an agreement to accelerate development of HydroMax, a large-scale breakthrough gasification technology capable of converting hydrocarbons into liquid fuels & electricity. Gasification is a process by which hydrocarbons (coal, petroleum coke, bio-mass, etc.) are heated to create "syngas" (a mixture of carbon monoxide & hydrogen gases). The resulting "syngas" can then be converted into a variety of traditional fuels such as gasoline, diesel & jet fuel, as well as electricity & hydrogen. Environmentally, gasification is ultra-cleanand & produces significantly less emissions than existing coal-based technologies. Under terms of the agreement, Diversified Energy will invest $5 Millionin Alchemix in exchange for stock, a technology license, & a management/development contract for the HydroMax demonstration program. The 2 companies are currently pursuing both government & public/private equity sources to complete funding of a pilot-plant demonstration program. Major industrial & utility strategic partners are also being sought to support technology & commercial plant development. Headquartered in Gilbert, Arizona, Diversified Energy Corporation is a privately held company specializing in the development of advanced renewable energy & alternative fuel systems, projects, and technologies. The company's project portfolio includes solar electricity production, next-generation solar technologies, hydrogen production, transportation fuel efficiency, & coal-gasification/coal-to-liquids advanced systems. Alchemix Corporation is a development stage company based in Carefree, Arizona that invented & patented the HydroMax technology, which has demonstrated its ability to convert low cost hydrocarbons into high value energy products.