Here is the latest release. Some volume starting to creep in as well, closing at 1.81 on the week. A financing is also in the making to fund their first pilot plant.
PRESS RELEASE
FOR RELEASE:
June 18, 1998
12:00 P.M. EST
AUTOMATED TRANSFER SYSTEMS CORPORATION
Denver, Colorado.
Automated Transfer Systems Corporation is pleased to announce that the share exchange agreement between Automated Transfer Systems Corporation and Carbon Resources Limited ("Carbon") has received shareholder approvals from all parties.
Effective immediately, Automated Transfer Systems Corporation will acquire 75% of the total issued and outstanding shares of Carbon.
Carbon's mission statement is the reduction of carbon atoms being emitted into the environment as free hydrocarbons or as carbon dioxide. These greenhouse gases, which are said to be responsible for global warming can be reduced by monetization of stranded natural gas which is today vented freely or flared as a result of oil production throughout the third world. These gases, even such gases containing as much as 30% carbon dioxide, can be converted to ultra clean burning synthetic petroleum fuels (naptha, jet fuel, and diesel) by the gas to liquids synfuels technology. The gas to liquids synfuels technology involves the combination of the novel, patented sythesis gas process of Carbon called SynGen and the Fischer-Tropsch hydrocarbon synthesis process of the N.D. Zelinsky Institute of Organic Chemistry, Academy of Sciences, Russia, under exclusive license to Carbon.
In addition to reducing greenhouse gases presently flared or vented, there is a multitude of stranded natural gas fields throughout the world that cannot be brought to market by way of pipeline, fuel for power generation or a liquified natural gas (LNG). These stranded natural gas fields can be monetized and therefore brought to market by conversion to synthetic naphtha, jet fuel and diesel by the use of Carbon technology. Carbon synfuels technology is applicable to natural gas reserves as small as 10MMSCFD and as large as 500 MMSCFD plus.
Automated Transfer Systems Corporation views the acquisition of Carbon as a major step in the growth of the Company. The Carbon directors and key employees bring several years of experience to the Company and will be a valuable asset in working with the Company to develop and market the Carbon technology to its full potential.
The directors and key personnel of Carbon are as follows:
Thomas Cooley, P.E.- Director. Mr. Cooley is the former President of Kvaerner Membrane Systems, a company which supplies polymeric membrane based systems worldwide for CO2 removal. A well regarded process engineer, he pioneered the use of membranes for natural gas treating and has been active in the field for over 20 years. Mr. Cooley received his B.S. in Chemical Engineering from Rice University and is a registered P.E. in both Texas and Alberta. He is often referred to as the "father of natural gas treating membranes". Mr. Cooley holds three U.S. patents.
John D. Bruce - Director. Mr. Bruce is a senior consulting engineer with Dow's Port Technical Services Limited, a registered Channel Island company providing business development, oil and gas related technical services and support to the petroleum industry worldwide. Since graduation from Montana State University, his experience includes project or engineering and management roles with Refinery Engineering, C&I Girdler, Delta Engineering in Houston and London, and C.G. Doris Engineering in Paris. Mr. Bruce was instrumental in identifying the potential of the plasma technology of Dr. Czernichowski. Mr. Bruce assisted in funding the ongoing R & D and coordinated the technical liaisons leading to the SYNGEN reactor. He currently maintains an office in London, U.K.
Ms. Jacquie Danforth - Director. Ms. Danforth has spent the past several years in the employ of Vancouver based publicly traded companies. Ms. Danforth provides contract administrative and accounting services to these companies and is familiar with all aspects of day to day administration. Ms. Danforth has recently expanded her duties to include a stronger focus on the oil & gas sector and has attended numerous courses and seminars offered by CAPL and the University of Calgary to familiarize herself with the industry.
Dr. Albin Czernichowski - key personnel. Dr. Czernichowski currently teaches and performs his research as the 1st class professor at the University of Orleans (France). A graduate in Chemical Engineering at the Technical University of Wroclaw (Poland), he also received his Ph.D. and Habilitation grades in Physical Chemistry and then the full professor position (1979). For almost 40 years he has been involved in different fields of Plasma Chemistry. Supervisor of 21 Master's and 18 Ph.D theses, he is the author of 6 monographs and textbooks, 63 papers published in scientific journals, 155 other papers (conferences, communications), 30 patents and more than 62 reports. For the past 10 years he has been developing plasma reactors for hydrocarbon conversion processes such as heavy hydrocarbons cracking and hydrogenation, light hydrocarbons cracking, reforming or partial oxidation in order to produce H2, CO, C2H2, C2H4 as well as the hydrogen sulfide destruction and its full or partial alorization for oil & gas industry and geothermy. Work related to environmental clean up has included such applications as VOC abatement in flue gases, flue-gas SOX or NOX reduction to elements, soot after-burning, and CO2 dissociation. He is the co-inventor of the SYNGEN process.
Albert Lapidus - key personnel. Educated in Russia, Professor Lapidus has spent some 30 years of his career as a scientist devoted to the improvement of the Fischer-Tropsch Process. For the past ten years, Professor Lapidus has concentrated on Fischer-Tropsch catalyst improvement, especially hydrocarbon chain limiting catalysts. Professor Lapidus is head of the Zelinsky Institute in Moscow, where such Fischer-Tropsch research is taking place. Professor Lapidus is author of over 20 technical publications both within and without Russia.
Robert W. Cooley - key personnel. Mr. Cooley holds a degree in Business Administration from Texas A & M University. Since his graduation in 1972, Mr. Cooley has been employed with a number of major manufacturers related to the oil and gas industry, holding positions in marketing, sales and project management. Mr. Cooley's most recent employment was in the capacity of Manager, Projects, for Kvaerner Membrane Systems from 1994 to 1998 during which time his responsibilities included overseeing of engineering design and project management.
The Company would be pleased to provide more detailed information in regard to the Carbon project and would ask that you contact the Company at (403) 229-3025 or 1-888-378-6633
Source of information: The Company
For more information please contact the Company:
1-888-378-6633 (Toll free in North America) |
