Timothy Brian Lusby (84C) served as a Second Lieutenant in the U.S. Army before spending nearly 30 years as a successful entrepreneur, during which time he formed numerous successful entities, including New Business Development, LLC (NBD), which was sold to Amendia, Inc., a leading spinal device company. He then led Amendia, Inc. from $3 million in sales to $70 million in sales, spun out Vivex, a $38 million biologistics company, and then successfully sold Amendia to a Kohlberg fund for $162 million. He also formed Valeris, Inc., a leading orthopedic device company; DDS, which was sold to Amendia; One Direct Health; Phalanx, LLC, which was sold to Valeris; and more.
Most recently, he was one of three founders of JRL Energy and its wholly owned subsidiary JRL Coal, a coal mining company in eastern Kentucky. They capitalized the company in October 2016 and converted the company to a full "C" corporation on January 1, 2017. He is a founding director and its current CEO, contributing to the overall concept, strategy, and execution of the company.
In just eighteen months, he and his team raised in excess of $36 million of debt and equity, employed over 240 employees in a devastated area, obtained 20,000 acres under lease with over 50 million recoverable tons of coal, acquired over 300 pieces of large earth moving equipment, secured over $200 million in contracts with utility companies and industrial companies, shipped over 1.2 million tons of coal, and are now producing and selling over $7 million of coal per month.
JRL Coal received the "Business of the Year" Award from the Tri-County area in Harlan, Kentucky in October 2018. This award recognized JRL Coal for its community leadership, and, more importantly, the economic impact that it has had on the community.
