This document is the combination of the fourth quarter report (July--September 1992) and the 1992 annual report for the ENCOAL project. The following pages include the background and process description for the project, brief summaries of the accomplishments for the first three quarters, and a detailed fourth quarter report. Its purpose is to convey the accomplishments and current progress of the project. During the fourth quarter start-up, operation and shut-down of the plant dominated the activities of the ENCOAL operations team. Plant modifications and run support occupied the technical staff. Several plant tests were achieved. Results of the tests were favorable, and the plant achieved its first continuous one week long run in September. Both PDF and CDL were produced; the first shipment of CDL is planned for October 1992. ENCOAL received approval on its Continuation Application to the DOE and the plant was operating under Phase 3 by the end of the quarter.