COMTEX) B: RENTECH, INC. ENTERS INTO LICENSING AGREEMENT WITH
TEXACO
B: RENTECH, INC. ENTERS INTO LICENSING AGREEMENT WITH TEXACO
For Gas-To-Liquids Technology
DENVER, Oct. 8 /PRNewswire/ -- Rentech, Inc. (Nasdaq: RNTK) announced
today that it has entered into a licensing agreement with Texaco for
the Rentech Fischer-Tropsch technology. Under the license, Texaco will
use Rentech's gas-to-liquids technology in combination with Texaco's
proprietary gasification technology to produce liquid hydrocarbon
products such as naphtha, fuel and specialty products.
The Texaco gasification technology, which produces synthesis gas by
partial oxidation of carbon-based substances, will be used to generate
the synthesis gas feedstock for the Rentech Fischer-Tropsch technology.
The combination of these technologies will allow for the use of a broad
range of feedstocks such as petroleum coke, residual oils and
by-products generated in refineries and chemical plants.
Under terms of the agreement, Texaco is granted an exclusive, worldwide
(except in India) license to use and sublicense the Rentech Process
Technology in projects where solid and liquid hydrocarbons are used as
feedstocks for the generation of syngas in a gasification process such
as the proprietary Texaco Gasification Process. Rentech retains the
right to license for 100 percent natural gas feedstock. Texaco and
Rentech will share revenues from plants licensed under this agreement.
Specific financial terms of the agreement were not disclosed.
For further information on Texaco and Rentech, visit the
companies' websites at www.texaco.com and www.gastoliquids.com,
respectively.
SOURCE Rentech, Inc.
-0- 10/08/98 /CONTACT: Mark Koenig of
Rentech, Inc., 303-298-8008 ext. 116; or Paul Weeditz of Texaco,
713-752-6475/
/Web site: texaco.com /Web site:
gastoliquids.com
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