QualityStocks would like to highlight
Well Power Inc. (
OTCQB: WPWR). The company has secured the licensing rights to Texas with the first right of refusal on the other US states to a new technology solution to process waste natural gas, such as vented, flared or stranded gas, into “clean power” and engineered fuels, including no-sulphur diesel and diluents. Based on proprietary technology, this solution is mobile, high-yield and can be deployed with minimum capital expenditure.
In the company’s news,
Well Power is appealing to investors and other parties interested in learning more about its efforts to take on the problems of gas flaring, a pressing issue within the United States. Well Power’s managers continue to advance their business goals and spread the word about the flare-reducing technology they are developing in conjunction with ME Resources, a Canadian publicly-listed company.
Years ago, Well Power gained an exclusive five-year license to distribute ME Resources’ mobile micro refinery unit (MRU) within the state of Texas. Since then, companies and individuals involved in oil and gas production and operations have been invited to explore opportunities to partner with Well Power and to learn more about the MRU which, once developed, will process wasted raw natural gas, such as shut-in and flared gas, and turn it into electric power or engineered fuels.
Well Power and ME Resources are working closely with the research and development labs at Ecole Polytechnique de Montreal where the MRU is being developed. There, a lab-scale demonstration of the micro refinery unit is readily available. Within the MRU, power-generation components and catalytic reactors are united with a micro-synthesizing system that uses commercial technologies to achieve various power and liquid outputs. This novel system is the key technological component that enables the MRU to be portable and economically viable. The MRU also includes a container-sized unit with the capacity to transform, on a daily basis, 100,000 cubic feet of natural gas into clean power or engineered fuels.
Although there are regulatory changes and operational issues to consider, the successful development of the MRU presents an excellent value proposition for Well Power. When deployed and implemented as a solution for wasted gas opportunities or as a temporary tie-in solution for gas awaiting pipeline infrastructure, the MRU’s mobile and modular features are expected to result in highly favorable economics.
Well Power continues to press forward with its pilot project with ME Resource and to move towards finding and choosing a fitting industry partner in Texas to implement the project. The company has also begun discussions with ME Resource to expand its licensed distribution territory beyond the state of Texas, with the ultimate goal of securing all oil and gas producing regions in the US.
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