New Natural Gas to Liquid (GTL) Technology Created by the University of Texas at Arlington
UMED Holdings, Inc, a Texas Corporation, announces a licensing agreement with The University of Texas at Arlington and 1st Resource Group, Inc. (1RG) of Fort Worth for a new and efficient process for converting natural gas to clean, synthetic fuels (GTL). UMED has entered into an agreement with 1RG to commercialize this new GTL process.
The Agreement calls for UMED to be a sub-licensee and primary source for the commercialization of the GTL Conversion Units which will generate revenues for UMED as the units are deployed. 1RG will participate in the revenues and receive warrants to purchase UMED common stock. Additional consideration will be based upon certain performance.
The units being developed are small-scale portable, modular Gas-to-Liquid (GTL) conversion units intended to help natural gas producers gain improved market advantage. The advancement of GTL technology, pioneered by 1RG, will enable natural gas producers to achieve stronger financial performance through conversion of natural gas to clean Synthetic Fuels.
"This is a terrific opportunity for UMED to enter the energy sector and provide new technology to capitalize on the significant natural gas reserves in the United States," says Randy Moseley, Chairman of UMED.
UT Arlington President James D. Spaniolo said, "The licensing agreement is a major milestone in the University's relationship with business and industry."
"This advancement demonstrates how university research can respond to market demands," Spaniolo said. "All of us understand the need to lower fuel costs and develop clean energy resources."
Gary Fewell, chief operations officer for 1st Resource, said, "The venture will succeed because natural gas prices are low and reserves are plentiful. He said the portability of the system also makes it attractive."
"When you have gas wells or reserves that are uneconomical to produce or develop under current market conditions, gas can be converted to energy products such as liquid motor fuels, new employment and financial opportunities are created, offering an interesting option for many oil and gas companies," Fewell said.
Ric Halden, president of UMED Holdings, said, "The cutting-edge process could help reduce foreign dependency on oil. This is an industry changing technology. This country needs 10,000 conversion units on the ground. The commercialization process already has started."
The University of Texas at Arlington is a comprehensive research institution in the heart of North Texas. Visit www.uta.edu/ to learn more.
1st Resource Group Inc. is comprised of oil and gas professionals and experts focused on advancing gas-to-liquid fuel conversion to help natural gas producers gain improved market advantage. Visit http://1stresourcegroup.com/ to learn more.
UMED Holdings (PINKSHEETS: UMED) is a publicly traded corporation based in Fort Worth, Texas, with interests in digital media, entertainment, precious metals exploration and energy. Visit http://umedholdings.com/ to learn more.
About UMED Holdings, Inc.
UMED Holdings, Inc. (UMED), located in Fort Worth, Texas, is a holding company positioned to acquire assets and companies in the energy, precious metals, aerospace, media and social media business sectors of our economy.