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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (84)	3/26/2010 10:32:13 AM
From: scion	Read Replies (2) \| Respond to of 53574

Global Resource Inks Pact with Universal Alternative Fuels Manufacturing Close - Up, Oct 28, 2009 findarticles.com Global Resource, a developer of a patent-pending microwave technology, announced an agreement with Universal Alternative Fuels that grants worldwide, exclusive, royalty free license for the use of GBRC's patent-pending microwave technology for oil shale and coal applications. Under the terms and conditions of the License Agreement, GBRC will receive a $750,000 cash payment. In addition, under the terms of the License Agreement: - GBRC will remain the exclusive manufacturer of any microwave units used and /or sold by the Licensee under the License Agreement. - The company will receive and retain a 20 percent equity interest in the Licensee. - GBRC will, in certain circumstances, have the right to re- purchase the license from the Licensee. "This transaction provides GBRC with additional capital and advances the implementation of GBRC's emerging business strategy," said Peter Worthington, Chief Executive of Global Resource. "Part of that strategy involves the company focusing technology development and commercialization efforts and resources on more easily achievable applications, such as conversion of waste tires into high value carbon products and hydrocarbons. This is an important step in that direction." Worthington said, "It also enables GBRC to enlist the assistance of third parties to accelerate the research, development and commercialization of longer-term applications for our technology, such as oil shale and coal." GBRC said it has now secured two technology development relationships with the intent of achieving earlier technology development and commercialization. The first was the previously announced joint development agreement with Schlumberger for heavy oil in May 2009, now joined by the License Agreement with Universal Alternative Fuels for oil shale and coal. Worthington said, "We are pleased to have attracted a firm that understands the potential of our technology for application to oil shale and coal, and is focused on attracting the necessary resources to move rapidly towards product development and commercialization in those industries." More Information: www.globalresourcecorp.com findarticles.com