Carbon Energy announced a US$3.4 million cornerstone investment in the company by Hong Kong-based Kam Lung Investment Development Company, Proactive Investors reported. Kam Lung acquired 171.8 million shares in Carbon Energy at US$0.02 per share, which represents 14.98 percent of Carbon. Kam Lung is 100 percent owned by Hai Hui Zhuang, whose primary investments are real estate and technology development. Carbon Energy is focused on deploying its keyseam UCG technology in projects in Australia and, most recently, Chile.
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