Consol Energy Inc. acquired a 25 percent equity stake in a company that is using coal to create high-performance carbon foam for industrial and military markets.
The company is CFOAM Corp., which owns a carbon-foam manufacturing plant in Triadelphia, West Virginia. The other 75 percent of the holding company is CFOAM Ltd. (ASX: CFO), which is based in West Perth, Australia, and publicly traded on the Australian Stock Exchange.
Consol spent $3.5 million on the investment as well as a $1.1 million…