Well Power has signed an agreement with Canada-based ME Resource to obtain exclusive right to distribute its micro refinery units (MRUs) to the oil and gas industry in Texas.
An assembly of commercial technologies with a micro-processing system as the key technology component, MRUs process wasted natural gas, including stranded, shut-in, flared and vented gas. Raw natural gas flows between 75 million cubic feet (mcf) and 250 mcfcan be processed.
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According to Well Power, different kinds of liquid and power outputs can be achieved with the addition of catalytic reactors and power generation components. MRUs are also claimed to cut down carbon dioxide emissions by 542t a year, and, once optimised, a reduction of 1,224t a year can be achieved.
The factory-built MRUs generate remote power and can be adapted for various outputs including diluents, no sulphur diesel and pipeline-quality synthetic crude. The units produce end-products that include engineered fuel such as diesel, diluents, synthetic crude, and clean electrical power.
Well Power CEO Cristian Neagoe said that the company has executed the agreement and commenced its new business direction.
"With the support of our new partner, MEC, we are excited to introduce an innovative and beneficial technology to the US market," Neagoe added.
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By GlobalDataWell Power will pay a non-refundable licensing payment of $400,000 which will be used towards the engineering and development of a full-scale pilot in the licensed territory.
