KFX commends EPA conclusion

DENVER, Aug. 9, 2001 – KFx Inc. applauded EPA’s conclusion today that an aggressive Clinton administration initiative to reduce emissions from aging coal-fired power plants should be scaled back.

EPA’s conclusion allows existing coal-fired utilities to continue operating the 600-800 affected plants without being forced to install expensive scrubbers or shutting down. Currently the U.S. produces over 50% of its electricity from coal.

The New York Times reported that a senior EPA official said this week, “There needs to be things done that would still protect the environment and provide industry with certainty and flexibility.”

“This is what KFx is all about,” said Ted Venners, Chairman, President and CEO of KFx Inc. “Our product, K-Fuel® Plus, exceeds existing standards for SO2 and NOx emissions as well as most proposed mercury regulations. Combined with our Pegasus neural network software to optimize boiler performance, K-Fuel® Plus is the logical solution for these older boilers,” continued Venners.

Numerous utilities have expressed strong interest in pre-combustion fuels solutions, but have been reluctant to make the commitment without some certainty and direction from EPA. KFx encourages the certainty and flexibility approach rather than forced closures or expensive back end clean up. It is KFx’s position that pre-combustion and optimization efficiencies are much better solutions.

“Let’s solve the problem before it becomes a problem,” said Venners. “Once you combust coal, you get nasty gases that need to be cleaned up. We believe that it’s cheaper, smarter, and healthier to process the coal before it’s burned, then burn it efficiently using modern software.”

Gary Nicholson, CEO of KFx subsidiary, Pegasus Technologies, Inc., states that utilities have been achieving 10-30% NOx reduction and 1-2% heat rate improvement using just the Pegasus products. “People often lose sight of the fact that when you use premium clean fuels and optimize the combustion process, you create less emissions and make more profit for your company,” said Nicholson.

“The technologies are commercially available today. We encourage the EPA and the administration to let the free markets work while new technologies are allowed to solve these problems in a cost efficient manner,” concluded Venners.

About KFx/Pegasus

KFx Inc. provides pre-combustion fuel solutions for the power industry. Its patented K-Fuel® process converts low heating value coal into clean, high-energy fuel. KFx Inc.’s web site address is www.kfx.com. Pegasus Technologies, Inc., a subsidiary of KFx Inc., is the industry leader in neural network-based IT applications for the power generation market.

The NeuSIGHT® suite of combustion optimization applications from Pegasus reduces emissions and increases the efficiency of fossil fueled electric generating units. The Pegasus Technologies, Inc. web site address is www.pegasustec.com.

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