Coal: So Much More Than an Energy Source
CONSOL and CFOAM want to manufacture durable products from coal.
Coal often takes a bad rap, but the fact remains that it is a plentiful resource whose extraction continues to employ thousands. Now, a major producer/exporter is looking at ways to use coal to develop composite tooling for the aerospace and other sectors.
CONSOL Energy Inc. took a major step in the coal-to-products space by acquiring an equity interest in CFOAM Corp., a newly formed U.S.-based holding company whose wholly-owned subsidiary, CFOAM LLC, has manufacturing facilities in Triadelphia, W.Va.
“This is our first major step in the coal-to-products area, which leverages certain attractive properties of coal but with significantly lower emissions and greater value uplift potential than conventional combustion applications,” said Jimmy Brock, president and CEO of CONSOL Energy. “These products not only provide a high-margin revenue stream but also provide an intriguing new opportunity to utilize the vast resource base that our country is endowed with.”
If all goes well, tomorrow’s consumers might associate coal with jetliners and automobiles, instead of just smokestacks.