Evergreen Energy Inc Chief Executive Mr Thomas H Stoner Jr plans to resign at the beginning of next month almost two years in the job as he said the clean energy technology company needs to build a management team with more credentials in coal upgrading and beneficiation.

Mr Ilyas Khan Executive Chairman will serve as interim CEO while the company evaluates replacement efforts. Mr Stoner who will remain a member of the board when his resignation takes effect July 1 was made Evergreen CEO in late June 2009 after working as an interim chief for a few weeks and a consultant for several months before that.

Evergreen, which makes technology to cut emissions at electricity producers like coal-power plants, narrowed its loss last year by continuing to sell off noncore assets as well as cutting costs.

In a press release Wednesday, Mr Stoner said he believed it was time to step aside for the company to "build out a management team with more relevant experience in the coal upgrading and beneficiation business."

In a separate release, the company provided an update on its business in conjunction with its annual general meeting. Mr Khan said Evergreen made substantial progress on its goals for the year, which included resuming testing of K-Fuel its technology to upgrade coal, improve burn efficiency and reduce pollution at a Wyoming plant, completing a joint venture with WPG Resources Ltd and establishing an additional customer agreement to produce upgraded coal from K-Fuel.