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Global Resource is one of our highlighted companies this month. The company holds rights to a technology that has various applications to recover energy, such as oil and gas from waste materials. It has an exclusive license with Mobilestream Oil, Inc. for a family of technologies, which allow for the recycling of an automobile tire, as well as permit the economic recovery of oil from sources, such as shale, tar sands, oil resid, and existing oil wells.
In our client’s news today,
Global Resource announced that it has begun a second round of tests on coal to substantiate the first round of testing. The lab technicians found that only a tiny amount of released CO and CO2 was directly related to oxygen. If the second round of testing confirms these results, Global Resource could be the first company to gasify coal without using oxygen in gasification process.
The first round of tests demonstrated that methane, hydrogen, hydrocarbon gases, and liquids in the diesel-heating range could be successfully extracted from bituminous coal. Activated carbon and coke was the only residue left after the gasification.
Global Resource Corporation CEO Frank Pringle commented, “The potential of this development is staggering. It could contribute to energy independence for the U.S. derived from a fuel source in its own backyard.”
The company’s Chief Engineer, Hawk Hogan, is scheduled to be interviewed by Market News First from 1:30 PM to 1:45 PM today and will outline the most recent news.
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