Firepoint Energy Inc. Raises More than $1 Million on Wefunder, Begins Tunnelton Mining Restoration Project

Firepoint Energy Inc., a lithium-extraction, waste-coal-to-energy and rare-earth-mineral recovery company with principal offices in Wyoming, announced that it has begun renovating the proper of the former Tunnelton Mining Company in Western Pennsylvania as its pilot site.

Firepoint Energy, which is actively raising funds through the Wefunder online platform, has acquired more than $1 million dollars in the last two months to contribute to the renovation of the site that was once the centerpiece of a major coal operation in Indiana County, Pennsylvania.

Bill Smith, the CEO and chairman of Firepoint Energy, has relocated to Indiana County and is personally overseeing the restoration of the site, which will begin as a lithium recovery operation in its first phase, and will then add waste-coal processing during its second phase.

“We’re going to start by restoring the brine wastewater treatment capabilities of the site and capitalize on the opportunity to immediately capture the lithium and salt content of the water,” said Smith. “That’s a quick path to profitability for us. After that, we can add plasma gasification processes to start eliminating the four million tons of abandoned waste coal present on the site. Once we combine that with a gas-to-liquids system, we can produce millions of gallons of sustainable aviation fuel every year from this one site alone, and that’s before we even discuss the rare earth elements we’ll be able to recover through that process.”

Firepoint Energy COO and president Shelly Befumo credits Wefunder for its ability to rapidly spread awareness of Firepoint Energy’s mission, along with its ability to help the company swiftly gather momentum.

“Restoring an abandoned wastewater treatment plant to full working order can be a costly undertaking,” explained Befumo. “It requires repairs, the acquisition of new equipment, and preparation of the surrounding area for day-to-day operations. Fortunately, Wefunder has provided an excellent platform to spread awareness of our mission, which has allowed us to connect with like-minded supporters and first-time investors. Their enthusiasm and belief in our vision have been instrumental in helping us accelerate the timeline for reopening the facility.” 

Firepoint Energy’s offering can find it on Wefunder.com.

Firepoint Energy | www.firepoint.energy