With an estimated 61% of homes throughout the country using
natural gas as a fuel for heating or cooking efforts, according to the Energy
Information Administration, the high degree of global natural gas waste is an
increasingly concerning statistic. Through gas flaring practices associated
with petroleum refining processes and industrial plants, Well Power, Inc.
(OTCQB: WPWR) estimates that roughly the equivalent of the total amount of
natural gas consumed annually for residential purposes throughout the United
States is wasted. In other terms, five percent of total global gas production
is lost as a result of outdated production and industrial practices.
In addition to economic concerns, the environmental impact
of gas flaring can be troubling as well. With environmental scrutiny continuing
to increase following recent events such as the oil spill in the Gulf of
Mexico, finding new, environmentally friendly methods of byproduct reduction is
more important than ever before for the oil and gas industry. Unlike
impractical environmental solutions that vastly increase costs and maintenance,
Well Power is working to produce an environmentally-friendly alternative that
has the potential to produce considerable savings over the life of a project.
The company, through proprietary technological solutions, is
testing a new way to process the natural gas lost through flare systems and
similar operations into clean power and engineered fuels. Using a custom
Micro-Refinery Unit, the company aims to combine proven technologies in order
to capture and process the raw natural gas onsite with a scalable, mobile and
cost effective solution. With this technology, Well Power could have the
capability to turn undervalued gas emissions including stranded, shut-in,
wasted, flared, vented and otherwise associated gas into more valued end
products, such as Engineered Fuels™, electric power and heat, with minimized
environmental impact.
Well Power has previously secured licensing rights in Texas,
as well as first right of refusal on other U.S. states, for its Micro-Refinery
Unit. With remaining regulatory issues and operational concerns needing to be
addressed before full implementation, the company is currently seeking an
appropriate industry partner with whom to launch the project.
For more information, visit www.wellpowerinc.com
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