Global Resource Corp. Reports Successful Test of Commercial Prototype of Its Microwave Technology-Based Process
Global Resource Corp, a developer of a patent-pending microwave technology and machinery for extracting oil and gas, today announced that the Company successfully completed the testing of a commercial prototype of its microwave technology for economically converting hydrocarbons, into oil and gas, from a wide variety of sources. The Company said that as a result of its successful tests it can now begin taking orders for its machines.
Having reached the point of commercialization, the Company’s board of directors appointed, Wall Street executive Mr. Eric Swain as the new chief executive officer. As CEO, Mr. Swain will be responsible for overseeing the Company’s transition from a research and development company to a marketer, licensor and manufacturer of commercial machinery based on its microwave technology hydrocarbon extraction process to companies in a broad range of industries. He joins the Company, from Morgan Stanley, effective immediately.
In announcing Swain’s appointment, the Company’s board said, “Mr. Swain is a perfect fit to take our Company to the next level. He has the management experience and the leadership qualifications to guide our team during this crucial period of becoming a revenue generating company. We now have a well-rounded management team and board in place to help realize the commercial application of this highly economically viable and environmentally friendly source of energy. The new management appointments combined with the near-term commercialization of the technology will drive value to our shareholders.”
“I am pleased to be joining GBRC and look forward to commercializing this revolutionary technology,” stated Mr. Swain. “The alternative energy industry is one of the hottest sectors in the world. The industry is in the process of building a portfolio of alternative energy sources and GBRC’s microwave technology will be one of them. I believe that Global Resource’s microwave technology will prove itself as a leading economic and environmentally commercial energy source.”
Most recently, Mr. Swain was a Senior Vice President at Morgan Stanley. He began his Wall Street career in 1982. Over the past 26 years, he has held executive positions with several Wall Street firms, including Smith Barney Citigroup Capital Markets, Bear Stearns and First Institutional Securities Corp/Glickenhaus.
Prototype Update
Power Disbursement Tests: In the most recent tests, the Company was able to determine that the prototype is now getting a desirable pattern of energy across the feedstock. In the next few weeks the firm’s engineers will make very moderate changes in order to optimize the pattern of energy.
Power Absorption Tests: The test results showed that the microwave energy is exceeding expectations for penetrating completely through the feedstock being used at a highly rapid rate. It measures the energy being absorbed by the feedstock, and insures maximum efficiency in the conversion.
Gas Extraction Tests: The tests determined that we are successfully moving the vapor stream out of the reactor and into the gas process outside of the reactor. There were no signs of oil condensing inside of the reactor housing.
Multiple Microwave Unit Test: The tests determined that multiple microwave units will operate together in the reactor housing with very limited reflective energy and no negative impact on the microwave process.
“The entire company is extremely pleased with the most recent results from the testing of the prototype. The tests completed during the past few weeks were very successful, as anticipated, and indicate that we are now ready to enter into discussions regarding the sale or licensing of our technology,” stated GBRC’s President, Mr. Jeffrey Kimberly.
Mr. Kimberly continued, “The new design demonstrated that the three major requirements that were not possible with the original drum design have been accomplished. The testing positively shows that the microwave energy now effectively reacts with the feedstock, the heat remains in the system, and the vapor stream exits the reactor housing before condensing on the inside of the unit.”
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: www.globalresourcecorp.com.
