Emerging Fuels Technology Inc.
How we got $2.8M
Based on its 9 employees and its payroll, both reported for PPP in 2020 and brought up to date.
What we know
Signs of a sale Some signs of a sale
- In business 20 years (since 2006)
- Founder still runs it after 20 years
- Family in the business (Mark Agee, VP of Business Development)
From public records and the company's website, not a statement that it's for sale.
What they do
Emerging Fuels Technology is a Tulsa, Oklahoma company that licenses its Fischer-Tropsch catalyst and upgrading technology and provides engineering, testing and catalyst services to produce sustainable fuels from waste, biogas, and CO2.
From the company's website. Industry: All Other Professional, Scientific, and Technical Services.
Customers & suppliers
Customers
- Twelve · named on its website
- Highbury Energy Inc · named on its website
- WBCEC · named on its website
- SAFAsia · named on its website
- Comstock Fuels · named on its website
- Sora Fuel · named on its website
- Sea Dragon Energy · named on its website
- ReCarbon · named on its website
Possible customers nearby
The largest businesses within about 60 miles in the markets its website says it serves.
- THE HAWTHORN GROUP, INC. · Tulsa, 8 mi · $437.3M
- CUSTOM COMMODITIES, INC · Vinita, 54 mi · $137.0M
- EAGLE REDI-MIX CONCRETE LLC · Tulsa, 9 mi · $111.7M
- MILLER TRUCK LINES LLC · Stroud, 51 mi · $106.6M
- JCT HOLDING CO LLC · Sapulpa, 21 mi · $101.6M
Estimated value over time
▼ 13% since 2020Today's estimate scaled by the headcount reported each year and that year's prices. A trend, not a record of past sale values.
Employees over time
▲ 0% since 2020Show as table
| Year | Source | Employees | Est. revenue |
|---|---|---|---|
| 2020 | PPP loan | 9 | $2.0M |
| 2020 | Form 5500 | 10 | $2.2M |
| 2021 | Form 5500 | 9 | $2.0M |
| 2022 | Form 5500 | 9 | $2.0M |
| 2023 | Form 5500 | 9 | $2.0M |
| 2024 | Form 5500 | 9 | $2.0M |
| 2025 | Form 5500 | 9 | $2.0M |
Participants are employees in the company's retirement plan at year end, from its Form 5500 filing with the Department of Labor. They usually run a little under total headcount (part-timers and new hires may not be eligible). Revenue and EBITDA apply this industry's revenue per employee and margin to each year's count.
Compared with similar businesses nearby
| Business | Est. revenue | Distance |
|---|---|---|
| EMERGING FUELS TECHNOLOGY INC. this business | $4.2M | — |
| MCDANIEL TECHNICAL SERVICES, INC. Broken Arrow · 250 employees | $114.1M | 0.5 mi |
| MATLOCK SECURITY SERVICES, INC. Tulsa · 19 employees | $5.7M | 0.6 mi |
| ROAD DOG MOBILE REPAIR LLC Tulsa · 4 employees | $1.2M | 0.8 mi |
| BULLSEYE DATABASE MARKETING LLC Tulsa · 8 employees | $3.1M | 0.9 mi |
| Animal House Veterinary Hospital Broken Arrow | $1.2M | 1.1 mi |
| Tulsa Animal Urgent Care Tulsa | $1.2M | 1.1 mi |
The full calculation
| Employees reported to the SBA | 9 |
| Revenue from headcount (employees × revenue per employee for companies this size) | $2.7M |
| Revenue from PPP payroll (payroll ÷ payroll's share of revenue for companies this size) | $4.9M |
| Estimate: the two combined (geometric mean) | $4.2M |
| EBITDA margin (industry, adjusted for size) | 18% |
| EBITDA = revenue × margin | $748K |
Figures are shown toward the upper part of their range rather than at its middle.
Brought up to date assuming revenue has grown 8% a year since 2020, when the PPP figures were reported; included above.
| Estimated value = EBITDA × typical sale multiple | $2.8M |
| Multiple for this size and industry | 3.8× |
| Value range | $1.5M – $3.9M |
| Revenue range | $2.7M – $4.8M |
| EBITDA range | $492K – $853K |
| Industry (NAICS) | All Other Professional, Scientific, and Technical Services (541990) |
EBITDA margin: from IRS tax returns of S corporations in this industry (2019–2022), adjusted for company size: smaller companies typically run higher margins. EBITDA here is after owners' salaries.
Benchmarks: US Economic Census 2022. PPP loans were sized on 2019–2020 payroll, so figures reflect that period. These are statistical estimates, not reported financials. Full methodology
People & advisors
“The roots of Emerging Fuels Technology (EFT) trace back to Syntroleum, a pioneering company in synthetic fuel production.”
Leadership
- DLDavid LloydChief Commercial Officer · Company website · source
- MAMark AgeeVP of Business Development · Company website · source
- DHDr. Helge SachsChief Development Officer · Company website · source
- RYRonnie YoungLab Manager · Company website · source
- SBStephani BrittonSigned for the company · 2025 retirement-plan filing (Form 5500)
Advisors
- BankingMidFirst BankPPP / SBA lender
From the company's own website and public filings (DOL Form 5500, IRS Form 990, SBA). Roles are as stated there and may be out of date.
Banking relationships
| MidFirst Bank PPP 2020, PPP 2021 | All 2,403 borrowers → |
From PPP and SBA loan records, which name the bank but not the individual banker.
PPP loans
| Approved | Draw | Amount | Jobs |
|---|---|---|---|
| 4/10/2020 | first | $177K | 8 |
| 1/22/2021 | second | $173K | 9 |
Public records
Matched to this business by name and address from public government data; a match can occasionally be wrong.
About Emerging Fuels Technology Inc.
Emerging Fuels Technology Inc. is an all other professional, scientific, and technical services company in Tulsa, Oklahoma, in business since 2006. It is owned by Kenneth Agee (Founder). Its estimated annual revenue is about $4.2M, with roughly $748K of EBITDA. It has about 9 employees. Its estimated business value is $2.8M (likely range $1.5M–$3.9M).
Common questions
- Who owns Emerging Fuels Technology Inc.?
- Emerging Fuels Technology Inc. is owned by Kenneth Agee (Founder), according to public sources such as the company's website or filings.
- How much revenue does Emerging Fuels Technology Inc. make?
- SeeBITDA estimates Emerging Fuels Technology Inc.'s annual revenue at about $4.2M (likely between $2.7M and $4.8M), based on public records such as its PPP loan and retirement-plan filings, brought up to 2026.
- What is Emerging Fuels Technology Inc. worth?
- About $2.8M, roughly 3.8× its estimated EBITDA of $748K, typical for a all other professional, scientific, and technical services company its size. Likely range: $1.5M–$3.9M.
- How many employees does Emerging Fuels Technology Inc. have?
- About 9, from its 2025 retirement-plan filing.
- When was Emerging Fuels Technology Inc. founded?
- Emerging Fuels Technology Inc. has been in business since 2006.