CoalTek

About CoalTek

CoalTek, Inc. was a developer of clean coal technology focused on creating more efficient and environmentally friendly coal from low-value sources. Founded in 2002 by Jerry Weinberg and headquartered in Framingham, Massachusetts, the company developed a microwave-based, commercial-scale demoisturization system. This technology was designed to reduce the moisture content in various types of coal, which in turn aimed to optimize power plant efficiency, lower emissions, and improve energy savings for industrial facilities.

The company's business model centered on its proprietary technology that offered a pre-burning, dry process to enhance the properties of solid fuel. CoalTek's system was presented as a method to upgrade low-value brown coal into a cleaner energy source, meeting environmental compliance standards. The firm targeted clients in the industrial and energy sectors, aiming to help them reduce their environmental footprint and operational costs. Over its lifetime, CoalTek raised approximately $55.7 million in funding over 8 rounds from investors including Technology Partners, Warburg Pincus, DFJ, and Lightspeed Venture Partners. However, according to multiple sources, the company is now considered out of business or deadpooled.