CFOAM Limited, CFOAM Corp. (74.34% owned by CFOAM Limited, 25.66% owned by CONSOL Energy Inc) and its operating entity CFOAM LLC, Triadelphia, West Virginia, (CFOAM) wish to provide the following update: Promising results from initial test work undertaken on continuous kiln. Negotiations to acquire and move the kiln are progressing. The United States Department of Energy's (DOE) Office of Fossil Energy (FE) has awarded the CFOAM proposal for "Continuous Processing of Carbon Foam Products Made from Coal at Atmospheric Pressure" (or CFOAM Project) for a total project value of USD 2,421,802 commencing 1 January 2021, including DOE funding of USD 1,923,680 with CFOAM being approximately USD 1.523 million and cost share from CFOAM and CONSOL Energy Inc. of USD 498,122. This CFOAM Project will target applications capable of utilizing carbon foam at large scale, transforming coal to carbon products, with the potential for significant cost savings and consequently the ability to penetrate more competitive applications where volume and cost are paramount (e.g. building applications). The objective is to create a continuous manufacturing process for carbon foam that operates at atmospheric pressure and can generate well-formed carbon foam panels and lightweight aggregates. A successful outcome would: significantly reduce the cost to manufacture carbon foam through reductions in capital and labour costs, significantly reduce the cycle time to manufacture carbon foam from weeks to hours, and enable the manufacture of much larger volumes of carbon foam. CFOAM has undertaken 2 days of trials on a 68' long belt continuous kiln in North Carolina. This kiln appears to be suitable for the CFOAM Project. The CFOAM Project R&D team conducted a number of trials in the kiln. The initial results showed promising results, including well-formed bottoms and decent thickness on some samples and the aggregate formed well and no fusion. Work is now being undertaken to review, analyse and assess the full suite of samples.