CHARLESTON, W.Va., April 25, 2023 (GLOBE NEWSWIRE) -- KKCG and US Methanol LLC co-hosted an event to mark the completion and successful opening of West Virginia's first methanol production facility, located in the Institute Industrial Complex, located in the Kanawha Valley.
The manufacturing facility is expected to produce 200,000 metric tons of high-quality methanol annually to customers in West Virginia and the surrounding states. Methanol is a key component used to manufacture various consumer products, including electronics and medicine. With an investment of more than $250 million, the facility creates more than 50 new, high-quality industrial jobs in West Virginia.
US Methanol was founded by KKCG in 2016, recognizing West Virginia's strong credentials as a competitive manufacturing location, underpinned by abundant natural resources, pre-existing infrastructure, a pro-business environment, and local know-how.
The opening of this facility signals KKCG's commitment to providing investment into the region and supporting the local communities in which it operates.
Celebrating Success
To celebrate this milestone, KKCG and US Methanol hosted an event at West Virginia State University. The event featured keynote remarks and a panel discussion with relevant business leaders, elected officials, and academics to explore ways to achieve lasting and sustainable economic growth in West Virginia.
Event speakers and panelists included:
- Governor Jim Justice, West Virginia
- Senator Joe Manchin
- Senator Shelley Moore Capito
- Congresswoman Carol Miller
- Karel Komárek, KKCG, Founder & Chairman
- Katarina Kohlmayer, KKCG, Chief Financial Officer
- Michael L. Walsh, US Methanol, Chief Executive Officer
- Ericke Cage, President of West Virginia State University
- W. Kent Carper, President of the Kanawha County Commission
- Rebecca McPhail, President of the West Virginia Manufacturers Association
Karel Komárek, Founder & Chairman of KKCG, commented:
"Our investment in US Methanol is a testament to our belief in the potential of West Virginia's economy. We trust that the plant will benefit the local community and state, creating new jobs and opportunities for growth."
Joe Manchin, U.S. Senator from West Virginia, commented:
"I want to thank KKCG, Karel [Komárek], and his entire team for their commitment and investment, and the opportunity that he has given us to show what a good partner the state of West Virginia will be."
About KKCG
KKCG is an investment and innovation group with expertise in lotteries and gaming, energy, technology, and real estate. Founded by entrepreneur, investor, and philanthropist Karel Komárek, KKCG employs over 10,000 people in 36 countries across its portfolio companies, with more than $10 billion in assets under management. Its businesses include, amongst others, Allwyn, a multi-national lottery operator with leading market positions in Austria, Czech Republic, Greece, Cyprus, Italy, the United Kingdom and the United States (Illinois); MND Group, an international producer and supplier of traditional and renewable energy, active in drilling and exploration, energy storage, retail, and trading; ARICOMA Group, comprehensive IT services provider across Europe and the US; and KKCG Real Estate which creates internationally recognized, award-winning architecture in the residential, commercial, and industrial sectors with a focus on innovative and sustainable development. With operations on several continents, KKCG businesses draw on capital, networks, and insights from across the group to enable profitable, sustainable growth for the long term. KKCG is committed to supporting the communities where it operates, contributing to the societies it works within.
About US Methanol
US Methanol was founded by KKCG in 2016 with the mission to reliably produce and deliver the highest quality methanol to industrial consumers based in the United States. The company is headquartered in Charleston, West Virginia, US. The company is committed to gold-standard operations to produce its product in a manner that protects its employees, the community, and the environment.
Media Contacts:
Jonathan Hoffmann
Group Corporate Communications Director, Spokesperson of KKCG
M: +420 602 633 105
E: jonathan.hoffmann@kkcg.com
Evropská 866/71
160 00 Prague 6
Czech Republic
Mary Green
President, Mary Ann Green Communications
304.932.7673
mgreen@magc.info
106 South Gate Place
Charleston, WV 25314
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1b9de735-e8d9-4772-9505-ff337527def0
