CONSOL Energy Announces Investment in Coal-to-Products Space

CANONSBURG, Pa., Jan. 8, 2020 /PRNewswire/ — CONSOL Energy Inc. (NYSE: CEIX) announced today that it has made an initial investment in the coal-to-products space by acquiring a 25% equity interest in CFOAM Corp., a newly-formed US-based holding company whose wholly-owned subsidiary, CFOAM LLC, has manufacturing facilities in Triadelphia, West Virginia. CFOAM Limited, an ASX-listed company, owns the remaining 75% of CFOAM Corp. CFOAM LLC manufactures high-performance carbon foam products from coal and focuses on meeting demand for high-grade materials in the industrial, aerospace, military and commercial product markets.