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Utah-based Headwaters Incorporated (HW) develops and commercializes technologies for enhancing the value of coal, gas, oil, and other natural resources. The company's proprietary Covol Fuels application provides value-added services to the production of coal-based solid synthetic fuels that are primarily consumed by electric power generation plants. The company wholly owns Industrial Services Group, Inc. and Headwaters Technology Innovation Group, Inc. Industrial Services Group manages and distributes coal combustion products (CCP) in the U.S. and Canada, and also runs a construction materials segment. Headwaters Technology Innovation is engaged in the conversion of coal and heavy oil into high-value liquid fuels. It also custom-designs nanocatalysts for multifarious industrial applications. The company operates three segments: Construction Materials, Alternative Energy, and Coal Combustion Products (CCPs).
Construction Materials division (45% of fiscal 2007 revenue) is a market leader in designing, manufacturing, and marketing architectural stone veneer under the Eldorado Stone brand and also holds regional market leadership positions in manufacturing and marketing concrete blocks, bricks, mortar, and stucco. The segment also provides various building products (such as window shutters, gable vents, and mounting blocks) used in exterior residential remodeling and construction under various Tapco brands.
Alternative Energy unit (30% of FY07 revenue) is the largest provider of technology and chemical reagents to the coal-based synthetic fuels industry. The company is using its engineered fuels expertise to develop new opportunities in the burgeoning clean coal marketplace. The segment also develops and deploys a range of breakthrough technologies that improve natural resource utilization, including heavy oil upgrading, coal liquefaction, and nanocatalyst applications.
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