Coalview founder and director, David Schwedel, has led the company to distinction with the nation’s first structured project financing for a coal waste recovery project. In January 2014, Coalview obtained $42 million in financing for a new coal waste recovery plant located at the Centralia Mine in Washington state, formerly owned by TransAlta.
The majority of financing for the project was comprised of $26.5 million in tax-exempt bonds divided into three portions by Oppenheimer & Co. and allocated among three investors, with an additional subordinated loan in the amount of $783,000 from Rosemawr Capital. The Washington Economic Development Finance Authority served as the issuer for the senior environmental facilities revenue bonds. The proceeds were dedicated to engineering, construction, operating reserve funds, equipment and other fees.