Well
Power, a leading innovator in gas-flare-reduction technology, has recently
secured a new investment agreement as the company moves forward with its
prototype micro-refinery unit (MRU) work that it is currently undertaking in
Texas.
Recently,
Well Power announced a deal with LG Capital for an investment in the company.
Two convertible notes were issued. The first note, due November 18, 2015 in the
principal amount of $78,750, was issued in exchange for $78,750 in cash. The
second note, due November 18, 2015 in the principal amount of $78,750, was issued
in exchange for a full-recourse collateralized promissory note from LG Capital
in the amount of $78,650.
Well Power
is currently working on its micro-refining technology, which is intended to
greatly reduce gas flaring in the U.S. Flaring has contributed to a loss of as
much as 30 percent of gas supplies due to burning off of gas with no way to
retain or re-capture it during the processing and refining cycles.
Well Power
is developing a prototype MRU, which would not only re-capture the flared gas,
but would also work to process and refine it into usable fuel. This not only
would help the environment by reducing the expended emissions from refining,
but would also improve the gas supply and output levels at various oil and gas
plays in the U.S.
In an
article posted last month, we noted that in North Dakota alone, it was
estimated that nearly one-third of all gas produced last year was flared or
lost to supplies. Flared gas has been defined as lost gas, and thus lost
revenue.
For more
information, visit www.wellpowerinc.com
About QualityStocks
QualityStocks
is committed to connecting subscribers with companies that have huge potential
to succeed in the short and long-term future. We offer several ways for
investors to find, evaluate, and learn more about investing in these companies.
Sign up
for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The
Quality Stocks Daily Blog http://blog.qualitystocks.net
The
Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The
Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
No comments:
Post a Comment