According to the Sightline Institute report, Ambre faces mounting financial challenges, including money-losing coal mines, large write-offs for failed overseas ventures, major liabilities for mine cleanup and pensions, troubled assets, high borrowing costs and a need for $1 billion in new capital to make its coal projects financially viable.

Ambre has proposed a pair of coal export terminal sites in Washington and Oregon, with first shipments initially expected in 2014.

Stage 1 of the project will ship 3.5 million tonnes per year and cost $152 million, while stage 2 will take capacity to 8 million metric tons per year for an additional investment of $94 million.

Since it was founded in 2005, Ambre has racked up more than $A124 million in accumulated losses, while taking in less than $7 million in revenues.

Sightline Institute executive director Alan Durning said: “Ambre Energy is a very dicey proposition for investors.

“State and local governments and potential business partners should be aware of the severe financial risks the company carries.”

Longwalls was unable to reach Ambre Energy for comment.