Global Resource Corp. Signs Research Agreement With Penn State University on Commercialization of Microwave Technology To Extrac
27 Novembre 2007 - 1:10PM
PR Newswire (US)
Penn State Professor Dinesh Agrawal, a Nationally Recognized
Authority on Microwave Technology, Will Spearhead the Project WEST
BERLIN, N.J., Nov. 27 /PRNewswire-FirstCall/ -- Global Resource
Corp. (OTC:GBRC), a developer of a patent-pending microwave
technology and machinery for extracting oil and gases, announced
today that it has signed a research agreement with Professor Dinesh
Agrawal of Pennsylvania State University, a nationally recognized
authority of microwave technology, to conduct research on the
commercialization of its patent-pending microwave technology to
extract hydrocarbons from oil shale. Dinesh Agrawal is professor of
materials science and director of the Microwave Processing and
Engineering Center at Penn State. Chairman Frank Pringle of General
Resource Corp. said, "We are looking forward to working with
Professor Agrawal and Penn State on proving the commercial
viability of microwave technology for extracting hydrocarbons from
oil shale in a cost-effective and emissions-free process." "Unlike
the existing technologies for extracting energy from oil shale,"
Pringle added, "microwave technology uses less energy and is,
therefore, more efficient. Also, due to the vacuum process, there
are no CO or CO2 emissions." Pringle noted that in a report
released on July 17, the U.S. Department of Energy profiled Global
Resource and its microwave technology for oil shale recovery as a
company that could possibly help to make the U.S. energy
independent. In addition, Popular Science Magazine selected
Chairman Frank Pringle as a "Green Tech Innovator" and Global
Resource Corp.'s microwave technology as one of its "Best of What's
New '07." Time Magazine also selected the company's microwave
technology as one of the "Best Inventions of the Year" because of
its ability to "pull fuel out of shale rock, tires and even plastic
bottles." In its annual round up of "Best Inventions of the Year,"
Time Magazine selected 46 inventions in 12 categories, from Cars
& Buses to Health. Global Resource's microwave technology is
included in the environment category. About Global Resource Corp.
Global Resource Corp., (OTC:GBRC), is a developer of a
patent-pending microwave technology and machinery that extracts oil
and petroleum products from shale deposits, tar sands, capped oil
wells, bituminous coal and processed materials such as tires and
plastics as well as dredged soil from harbors and river bottoms.
Its process produces significantly greater yields and lower costs
than are available using existing technologies. Because the process
takes place in an enclosed environment it is emission-free and an
efficient and cost-effective tool for cleaning environmental wastes
and toxic materials. For more information see:
http://www.globalresourcecorp.com/ Forward-Looking Statements 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. PR/Media Relations Contact: Richard Stern Stern
& Co. Tel: 212-888-0044 Jeff Andrews CFO Global Resource
Corporation Bloomfield Business Park 408 Bloomfield Dr. Unit 3 West
Berlin, NJ 08091 Main: 856-767-5661 Investors, Arun Chakraborty,
Stern & Co. 212 888 0044 DATASOURCE: Global Resource Corp.
CONTACT: PR-Media Relations, Richard Stern, Stern & Co.,
+1-212-888-0044, ; or Jeff Andrews, CFO, Global Resource
Corporation, +1-856-767-5661, ; or Investors, Arun Chakraborty,
Stern & Co., +1-212-888-0044, Web site:
http://www.globalresourcecorp.com/
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