Nov 14, 2011 - US clean-tech firm Evergreen Energy Inc (NYSE:EEE) today said that Ilyas Khan, the company's executive chairman and interim chief executive, and Peter Moss, a director, stepped down on November 13.
Evergreen said it is currently evaluating the acquisition offer of Stanhill Capital Partners for the company's K-Fuel process and technology business for USD 30 million (EUR 21.9m). Khan is a substantial shareholder of Stanhill and Moss has acted as an adviser to the suitor, Evergreen added.
Evergreen announced the offer at the beginning of October. The company's patented K-Fuel technology upgrades low-rank coal, providing increased efficiency and reduced emissions.
Meanwhile, the board of directors has appointed Richard Perl and Thomas Stoner co-chairmen.