Companies · Coal Mining

Covol Fuels No. 3, LLC

SOUTH JORDAN · Coal Mining

Diligence memoA one-page analyst read on Covol Fuels No. 3, LLC — recommendation, valuation, rhythm, risks.
$24.6M
Total raised · real
2
Rounds
0.0×
Latest step-up
Top 23%
Sector rank · raised
Series B
Latest stage · inferred · Mon Aug 12 2013 00:00:00 GMT+0000 (Coordinated Universal Time)

Covol Fuels No. 3, LLC has raised $25M over 2 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the extractive sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 12.9 yr ago; this sector typically re-raises about every 11 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Covol Fuels No. 3, LLC behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
12.9 yr record
Peak capital year was 2013 with $24.6M across 2 filings.
Market position
ahead of 78% of Coal Mining peers
Capital scale is ahead of 78% of Coal Mining peers; modeled value is above 83% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Sparse
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2013: $24.6M across 2 filings.
  • Largest single filing was $23.8M on 2013-08-12.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Coal Mining

Covol Fuels No. 3, LLC is one of 76 Coal Mining companies tracked from SOUTH JORDAN. By capital raised it ranks in the upper tier (ahead of 78% of sector peers), and in the upper tier by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

As reported in public records reported — not modeled.

US
Jurisdiction
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$25M$50M$75M$100MSeries B · 2013-08-12 Raised $24M (real) Modeled valuation $99M (est)$24M$99MSeries B2013Pre-Seed · 2013-08-12 Raised $750K (real) Modeled valuation $4.3M (est)$750K$4.3MPre-Seed2013+$750KCumulative $25M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$23.8M · 2013
Bridge · Series B-stage$750K · 2013smaller follow-on

Stages are modeled from round size (public records carry no series label). No record for: Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$98.6M
Base estimate est.
$56.6M
Conservative case
$379.4M
Upside case
$132.4M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the extractive sector profile. Directional, not a quoted figure.

Series B · modeled $98.6M · 2013-08-122013Pre-Seed · modeled $4.3M · 2013-08-122013
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
65%
Survival probability
43% low · 79% high
1.02×/yr
Annual markup
1.24×/yr upside case
6.0 yr
Elapsed time used
12.9 yr actual, capped for stale marks
extractive
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
0 mo
Avg between rounds
Capital velocity
12.9 yr
On record since
2013
First round
2
Rounds on file
How it compares to the market

Benchmarked against 76 companies in Coal Mining. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 3.3× above median
This company$24.6M
Sector median$7.5M
Latest round — vs other Series B rounds in sector (real $, this stage) 0.0× of median
This company$750K
Sector median$16.0M
Modeled value — vs sector median (estimate, all stages) 6.0× above median
This company$98.6M
Sector median$16.5M

Raised more than 78% of sector peers (real $). Modeled value above 83% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

This companyCohort peer
$100K$1.0M$10.0M$100.0M$1.0B$10.0M$100.0MCapital raised (log)Wilson Creek Energy, LLC · Series B Raised $48.8M · modeled $156.7M (est)Hendricks Omnis Holding Co LLC · Series B Raised $20.7M · modeled $85.6M (est)Colombia Energy Resources, Inc. · Series B Raised $38.6M · modeled $1.1M (est)Covol Fuels No. 3, LLC (this company) Raised $24.6M · modeled $98.6M (est)Covol Fuels No. 3, LLC
CompanyStageRaised · realValue · estvs peer med.
Wilson Creek Energy, LLCSeries B$48.8M$156.7M1.70×
Covol Fuels No. 3, LLC this companySeries B$24.6M$98.6M1.07×
Hendricks Omnis Holding Co LLCSeries B$20.7M$85.6M0.93×
Colombia Energy Resources, Inc.Series B$38.6M$1.1M0.01×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$23.8M2013-08-12$132.4M$98.6M90%
Pre-Seed$750K2013-08-12$4.2M$4.3M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$23.8M2013-08-12
    • First recorded raise — entered as Series B.
  2. Pre-Seed$750K2013-08-12
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 31.8× smaller than the prior — bridge or down round.
Intelligence
Modeled next raise
$750K
Modeled next size est.range $750K$1.2M
0.0×
Last step-up
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Rex Fought1 other2013-08
Registry & provenance

Covol Fuels No. 3, LLC is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1477346
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Catalyst Resources LLCCoal MiningSeries B$54.9M$989Knetwork1 shared operator · same sector · same stage
Evergreen Energy IncCoal MiningSeries B$23.0M$66.2Msame sector · same stage
C7 Energy, Inc.Coal MiningSeries B$22.0M$91.0Msame sector · same stage
Hendricks Omnis Holding Co LLCCoal MiningSeries B$20.7M$85.6Msame sector · same stage
Energy Coal Resources, Inc.Coal MiningSeries B$19.7M$81.3Msame sector · same stage
Hallador Petroleum CoCoal MiningSeries B$32.9M$136.1Msame sector · same stage
Colombia Energy Resources, Inc.Coal MiningSeries B$38.6M$1.1Msame sector · same stage
Wilson Creek Energy, LLCCoal MiningSeries B$48.8M$156.7Msame sector · same stage
Frequently asked
How much funding has Covol Fuels No. 3, LLC raised?
Covol Fuels No. 3, LLC has raised approximately $24.6M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Covol Fuels No. 3, LLC's estimated valuation?
Provath's modeled valuation for Covol Fuels No. 3, LLC is approximately $98.6M (modeled range $56.6M–$379.4M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Covol Fuels No. 3, LLC at?
Covol Fuels No. 3, LLC's latest modeled financing stage is Series B. Its most recent recorded round closed around Mon Aug 12.
What does Covol Fuels No. 3, LLC do and where is it based?
Covol Fuels No. 3, LLC operates in the Coal Mining sector, based in SOUTH JORDAN.
Explore related

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