David Schwedel is an entrepreneur at heart, with a special focus on the advancement of technology. Though he never completed his formal education, he’s had an illustrious business career, starting at the early age of 12 when he began washing boats—an endeavor he transformed into the company Florida Marine Services, which he successfully built and sold five years later.
Schwedel moved on to OLMC Group, where he worked his way up the ranks to senior vice president, as well as a member of the company’s investment committee. OLMC was where he gained entry into the world of energy technology enterprises. He used this to start a new company focused on an electronic data interchange (EDI) inventory control system. The company, Marex, grew from a $2 million investment to a $550 million, Nasdaq-traded entity.
In 2005, Schwedel joined Synthesis Energy Systems (SES) as part of a plan to make clean electricity through the conversion of waste coal into syngas and then hydrogen. By 2008, the company had a $100 million public offering.
Coalview was launched by Schwedel after his tenure at SES when he acquired Beard Technologies. Under his leadership, it is now the only U.S. company that is fully integrated in coal technology for coal fines recovery, and includes a custom extraction technique and independent laboratory. Coalview recently invested $42 million in a new project at the site of TransAlta’s Centralia Mine in Washington. Expected revenues over the course of 10-12 years amounts to $220 million.
Coalview represents one of Schwedel’s fundamental beliefs that coal, oil, and gas have four decades of viability in the realm of energy generation, and that technologies can be applied to make these resources better for the environment and more profitable for all involved.