Thursday, May 15, 2014

Well Power, Inc. (WPWR) Collaborates with ME Resource Corp. to Develop Clean Power Solution

Well Power, a development stage company, focuses on energy solutions and technologies that have the potential of producing clean power and engineered fuels.

The company’s goal is to provide a viable yet cost-effective way of turning wasted-gas opportunities in the oil and gas sector into revenue streams and to do so with minimal capital outlay. The company’s business plan is to position itself as a technology company, which will provide oil and gas producers and operators a solution to turn otherwise wasted natural gas, including stranded, shut-in, flared and vented gas, into valued end-products including electrical power and engineered fuels (diesel, diluents, and synthetic crude).

Well Power has entered into an exclusive, five-year licensing agreement with ME Resource Corp., a Canadian company that is developing mobile and scalable Wellhead Micro-Refinery Units (MRUs). The MRUs can be deployed close to wellheads so as to transform raw natural gas into clean power and liquid fuels. As a result of the licensing agreement, Well Power can begin to make plans for initiating the distribution of MRUs throughout Texas. The license also grants Well Power first right of refusal on additional territories within the United States so it has the choice of considering whether to distribute the units from Texas into other geographical areas.

ME Resource Corp., in collaboration with Well Power, continues to develop the novel technology behind the licensed Micro-Refinery Unit. For now, individuals and companies engaged in the oil and gas sector can explore opportunities to partner with Well Power and learn more about this mobile technology which, once developed, will process wasted raw natural gas into engineered fuels and electric power.

The Micro-Refinery Unit is intended to blend a micro-synthesizing system with commercial technologies and, with the inclusion of power-generation components and catalytic reactors, to realize several liquid and power outputs. Each MRU includes a container-sized unit with the facility to convert an estimated 100,000 cubic feet of natural gas a day into various clean power and engineered fuels.

For more information, visit the company’s website at www.wellpowerinc.com

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