Digital Gas to Commercialize Breakthrough Oil Shale Technology
Digital Gas, Inc. signed an agreement to partner with a private US-based company (PRIVATCO) that owns the exclusive rights to a high temperature fuel cell (HTFC) method which is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources.
The broadly-patented HTFC approach is designed to make it possible
to economically produce oil and gas from unconventional resources,
such as oil shale, tar sands, heavy oil deposits, and coal bed
methane, while producing electricity as a byproduct. Under the terms
of the agreement, Digital Gas intends to make an equity investment in
PRIVATCO, be responsible for drilling contract and funding matters on
PRIVATCO-controlled properties, and will have the right to use the
HTFC method on properties it acquires independent of PRIVATCO, subject
to a royalty payment. Digital Gas expects initial HTFC units to be
operational during 2006.
- Digital Gas to Commercialize Breakthrough Oil Shale Technology (Dec 12)