DENVER – July 20, 2009 –Evergreen Energy Inc. (NYSE Arca: EEE) announced today that Norway-based DNV (Det Norske Veritas) released review findings that show, when properly customized for a specific and approved monitoring plan, C-Lock Technology, Inc.’s GreenCert™ greenhouse gas (GHG) measurement and management protocol for coal-fired electric power plants is in compliance with the European Union Emissions Trading System’s (EU ETS) GHG Monitoring and Reporting Guidelines (MRG).

“The EU’s standards for monitoring and reporting CO2 emissions from large power plants are the world’s most stringent, and DNV’s review shows that a customized GreenCert solution can comply with the world’s most rigorous standards,” said Miles Mahoney, president and general manager of C-Lock®, a subsidiary of Evergreen Energy. “In addition to compliance with the standards when customized properly, GreenCert provides functionality beyond the scope of the MRG that provides value-added economic and environmental benefits.”

DNV is one of Europe’s leading independent verifiers of greenhouse gas emissions credits and technologies, and is a market leader in third party certification and assessment services. It is accredited by the United Nations Framework Convention for Climate Change as a Designated Operating Entity under the Clean Development Mechanism and is an approved certifier under the California Climate Action Registry and the Chicago Climate Exchange.

“This independent review by DNV means GreenCert customers in the EU power generation sector will realize the financial and precision GHG reporting benefits of a properly customized GreenCert carbon information management solution while in compliance with EU ETS monitoring and reporting requirements,” added Mahoney.

GreenCert provides utility companies, industry and agriculture with a scientifically accurate, scalable method to measure greenhouse gases and generate verifiable emissions credits. Built on IBM’s Service-Oriented Architecture, GreenCert is the only enterprise-wide emission information management system that is completely transparent and can be fully audited to meet the increasingly complex compliance standards of the green energy economy. IBM’s Beacon Awards Program recently recognized GreenCert as an “Outstanding Energy and Environment (Green) Solution.”

Improved Knowledge – Manage and Predict Allowances and Offsets

DNV’s assessment of the GreenCert protocol was conducted within the parameters of GreenCert’s ability to help electric power generation facility operators to:

• Improve their knowledge about their CO2 emissions
• Provide real-time diagnostics of their operating and monitoring systems, and
• Manage and predict their potential need for emissions allowances and offsets.

Following its review, DNV concluded that “The EU ETS monitoring and reporting aspects treated in the (GreenCert) Protocol are in compliance with the EU ETS Directive and the MRG” for emissions monitoring and reporting under the terms that GreenCert will be customized to harmonize with the requirements of a power plant’s existing GHG monitoring plan. All coal burning facilities under the EU ETS already have an approved monitoring plan, so DNV’s review shows that when properly customized for a specific monitoring plan, GreenCert can adapt to existing EU monitoring and reporting requirements.

EU Directives and Requirements

The GreenCert Energy Protocol as submitted to DNV included direct CO2 emissions from coal-fired electric power plants, power plants co-fired with coal and biomass, and co-generation of heat and power. The protocol describes how GreenCert will be used for quantifying CO2 emissions as required by EU Directive 2003/87/EC and EU Commission Decision 2007/589/EC, more commonly known as “Monitoring and Reporting Guidelines 2007” or MRG.

Investor Update Call:

Management wishes to further discuss this and other information in its investor update conference call scheduled for Tuesday, July 21, 2009 at 4:00 p.m. EDT. To access the call, please dial 866-383-8003 and the participant pass code is 68769582. International callers should dial 617-597-5330.  This call may also be accessed via the web at:

http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=80446&eventID=2329178

A replay of the conference call will be available starting July 21st at 7:00 p.m. EDT and will run through July 28th at 11:59 p.m. EDT. It will be available at 888-286-8010 or, for international callers, 617-801-6888. The replay pass code is 24965940.

About C-Lock Technology

C-Lock Technology Inc. is a subsidiary of Evergreen Energy Inc. (NYSE Arca: EEE). Evergreen Energy delivers proven, transformative green energy solutions for cleaner coal production and precise, scientific carbon measurement. www.evgenergy.com

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