Powder River Basin Resource Council Responds to Ramaco Carbons Misleading Press

Release on a DOE Grant

Contact: Bob LeResche (907) 723-2506
Background:
On July 20, 2017, Ramaco Carbon, LLC issued a press release claiming they were to receive a
$7 million grant from the Department of Energy (DOE). The DOE website, however, shows that
the only Wyoming grant awarded for carbon fiber research, is a $3.7 million grant to the Western
Research Institute (WRI). It is unclear how Ramaco Carbon might benefit from this grant, if at
all.

DOEs website says the purpose of the grant, Using state-of-the-art oil and polymer analytics,
DFT aided molecular dynamics modeling, and machine learning, the Consortium will develop
advanced computational tools for low cost carbon fiber from a variety of feed stocks.
https://energy.gov/sites/prod/files/2017/07/f35/FY17_DE-FOA-
0001629_VTO_Program_Wide.pdf
It seems that even if Ramaco is a part of the WRI consortium, their coal will be only one of a
variety of feed stock sources for the research project, if it is used at all.

Ramacos press release also states, Research efforts will occur at Ramacos Carbon Advanced
Material Center, (or iCAM), located near Sheridan, Wyoming. This fancy-named center
does not exist. Ramaco claims it, is being developed in conjunction with Ramacos Brook
Mine which contains an estimated 1.1 billion tons of coal reserves and resource and an
adjoining industrial park, the Wyoming iPark (iPark). Together, these three components will
provide carbon-based manufacturers the worlds only fully integrated carbon resource, research
& development and production facility. Of course none of these things exist either.

In response to Ramaco Carbons Press Release, Powder River Basin Resource Council
Chair Bob LeResche issued the following statement:
Ramaco Carbons advanced material center and industrial park does not exist, except
in promoters imaginations. The proposed Brook Coal Mine has not been permitted
and is opposed by Big Horn Coal, the Powder River Basin Resource Council, and over
a dozen nearby landowners. It is very unlikely that the site has anywhere near a billion
tons of coal reserves. Its hard to believe that DOE would fund research at a
nonexistent facility or one that relies on an unproven feedstock. None of these Ramaco
facilities are permitted, built or operating. Importantly, the area along the Tongue
River is a significant and productive agricultural area for Sheridan County and
Ramacos land is not zoned for industrial or commercial use. At this point, Ramacos
press release is nothing more than a sales pitch to garner support for the deficient mine
permit and further their attempt to mine local and national taxpayers. Unfortunately,
DOE has been down this road before. It appears that Ramaco Carbon and its
associated shell companies intend to pocket funds from the taxpayers through DOE
just like Michael Ruffato and his notorious Two Elk scam, a project that was
fraudulently awarded almost $10 million to research coal in a Campbell County facility
that did not exist either.