Diligence memo · auto-generated · as of July 2, 2026
Covol Fuels No. 3, LLC
Covol Fuels No. 3, LLC has raised $25M over 2 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Covol Fuels No. 3, LLC operates in Coal Mining, based in SOUTH JORDAN.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Covol Fuels No. 3, LLC has raised $25M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $24M on 2013-08-12.
Most recent recorded round closed around 2013-08-12.
Valuation (modeled)modeled
Provath models Covol Fuels No. 3, LLC at approximately $99M (range $57M–$379M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Last raise 12.9 yr ago; this sector typically re-raises about every 11 months.
Silent for over 3× the sector's normal cadence.
The last round was 31.8× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 78% of Coal Mining peers (76 compared).
Modeled value ranks above 83% of those peers.
Closest niche peers: Wilson Creek Energy, LLC, Hendricks Omnis Holding Co LLC, Colombia Energy Resources, Inc..
Peoplefiled
1 named person on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.