TUCKER, GA – Coaltek, which transforms low-grade goal into “clean coal,” is raising $5.5 million, according to a regulatory filing.

According to the filing with the U.S. Securities and Exchange Commission, Coaltek intends to issuer $5.5 million in equity consisting of Series 1 Convertible Preferred Stock. It has initially issued $250,000 in Convertible Promissory Notes which will convert into Series 1 Convertible Preferred Stock.

Earlier this year, CEO Chris Poirer told Dow Jones’ Clean Technology Insight the company would seek a $50 million fourth round.

CoalTek, which presented at TechJournal South’s first annual Southeast Venture Conference in 2007, has raised more than $60 million in venture backing from investors who inlcude LIghtspeed Venture Partners, Warburg Pincus, Element Partners, Braemar Energy Partenrs, and Draper Fisher Jurvetson.

The CoalTek process converts low grade, “dirty” coal into high grade “clean coal” at a cost competitive with the highest quality raw coals.

The technology uses electromagnetic energy to reduce the moisture, ash, sulfur and mercury in coal and to make it burn more efficiently and cleanly.

The process was developed, tested, and proven over eight years by Dr. Jerry Weinberg, the company’s co-founder, along with chief geologist Neil Ginther.

Weinberg, an astrophysicist with achievement awards from NASA, used independent laboratories to confirm his findings. CoalTek Inc. owns and has patent-protected all the intellectual property for its technology.

CoalTek opened its first commercial processing facility in Calvert City, Kentucky in 2006.

CoalTek plans to build multiple facilities over the next few years.

Online: www.coaltek.com

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