Department of Energy Includes Global Resource Corporation's Technology as Possible Answer to U.S. Energy Independence
20 Juin 2007 - 5:34PM
PR Newswire (US)
Company's potential to unlocking billions of barrels of oil in an
environmentally friendly process cited in report WEST BERLIN, N.J.,
June 20 /PRNewswire-FirstCall/ -- Global Resource Corporation
(OTC:GBRC.PK) announced today that they were recognized by the
United States Department of Energy as a company that may one day
unlock billions of barrels of energy from domestic United States
deposits. Patent pending gasification technology, developed by
engineers at Global Resource, is applied to various materials to
unlock energy in the form of oil and gas, and this technology, when
commercialized, may succeed in satisfying domestic energy
consumption. The Department of Energy issued a report on Wednesday,
June 20, 2007, identifying 25 companies that possess unconventional
fuel production technologies. The report includes a profile on
Global Resource and its energy production technologies, which can
potentially unlock billions of barrels of oil from various oil
shale, tar sands, coal and capped oil wells located in the USA. It
is anticipated that the report will be found on the DOE's website
later today. "Our technology may one day allow the United States to
rely on its own resources for the country's energy needs, and this
report is a testament to the potential our process holds," says
Frank Pringle, CEO of Global Resource Corporation. "The experts at
the DOE see value in our system, and we are honored to be counted
among the giants of the petro-chemical industry as a company that
may one day help solve the global energy crisis." The technology
gasifies hydrocarbons, the chemical building blocks of oil and gas
products, which are found in oil shale, tar sands, coal, capped oil
wells and other natural resources. However, unlike other petroleum
production processes, Global Resource has discovered a way to cut
carbon monoxide and carbon dioxide emissions. Since no oxygen is
introduced into the process, and the process is performed in a
closed-loop vacuum, harmful pollutants are eliminated.
Representatives from the DOE have reviewed Global Resource's
technology and process in-person at the Company's test facility in
southern New Jersey. DOE experts witnessed tests performed in
Global Resource's emissions-free laboratory unit and analyzed tests
preformed on various petro-chemical byproducts. High frequency
microwaves are applied to shale, tar sands, resid oil, coal and
resources, to heat and gasify hydrocarbons. Those gases condense
when they travel through a closed-loop system, creating fuel grade
gases and oil, and are collected for storage and transportation. A
cutting edge gas chromatograph analyzes the oil and gases to
evaluate what fuels have been derived in the process at Global's
site. Global Resource's patent pending technology has been proven
in laboratory conditions, and the process is designed to be a cost
and energy efficient system. Representatives from major energy
companies and emerging energy sectors have visited Global Resource
on multiple occasions and have demonstrated faith in the viability
of the technology. The process breaks down existing domestic energy
sources and produces methane, diesel fuel and heating oil in vast
quantities. When commercialized and built on a larger scale, Global
Resource's technology will potentially produce oil and multiple
gases with minimal refining, energy input, and cost and most
importantly without harmful green house gases. ABOUT GLOBAL
RESOURCE CORP. Global Resource Corp. has a patent pending process
that allows for removal of oil and alternative petroleum products
at very low cost from various resources, including shale deposits,
tar sands, waste oil streams and bituminous coal with significantly
greater yields and lower costs than are available utilizing
existing known technologies. The process uses specific frequencies
of microwave radiation to extract oils and alternative petroleum
products from secondary raw materials, and is expected to
dramatically reduce the cost for oil and gas recovery from a
variety of unconventional hydrocarbon resources. GBRC's technology
will not only be developed to extract oil from shale, but from
depleted oil fields in the US and elsewhere, many of which still
contain more than half of the hydrocarbons originally in these
fields, because the residual hydrocarbons are too viscous to
extract with conventional technology. This news release contains
forward-looking statements regarding Global Resource Corp's
business strategies and future plans of operations. Forward-
looking statements involve known and unknown risks and
uncertainties. The forward-looking statements contained in this
news release speak only as of the date hereof and Global Resource
disclaims any obligation to provide public updates, revisions or
amendments to any forward-looking statements made herein to reflect
changes in Global Resource's expectations or future events. Press
contact: Company contact: Matt McLoughlin Frank Pringle Senior
Account Executive CEO Gregory FCA Global Resource Corporation 27
West Athens Avenue Bloomfield Business Park Ardmore, Pa. 19003 408
Bloomfield Dr. Unit 3 Main: 610.642.8253, ext. 129 West Berlin, NJ
08091 Mobile: 610.996.4264 Main: 856-767-5661 DATASOURCE: Global
Resource Corporation CONTACT: Matt McLoughlin, Senior Account
Executive of Gregory FCA, +1-610-642-8253, ext. 129, Mobile,
+1-610-996-4264, ; Frank Pringle, CEO, Global Resource Corporation,
+1-856-767-5661, Web site: http://www.mobilestreamoil.com/
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