Well Power Inc. (WPWR) has secured the licensing rights to Texas, as well as the first right of refusal on the other U.S. states, to a new technology solution to process waste natural gas such as vented, flared or stranded gas into “clean power” and engineered fuels, including no-sulphur diesel and diluents. Based on proprietary technology, this solution is mobile, high-yield and can be deployed with minimum capital expenditure.
The company plans to be able to provide its technology with full-service engineering, design, construction, modular fabrication, maintenance, and construction management services to clients in the upstream areas of exploration and production. Well Power will also offer consulting services, process assessments, facility appraisals, feasibility studies, technology evaluations, project finance structuring and support, and multi-client subscription services.
Approximately 2.4 million barrels of oil equivalent is wasted each day by gas flaring alone, resulting in $10 billion of lost revenue and 400 million metric tons of CO2 equivalent global greenhouse gas emissions each year.
Additionally, environmental degradation associated with gas flaring has been shown to have a significant impact on local populations, often resulting in loss of livelihood and severe health issues.
Well Power’s Micro Refinery Unit (MRU) offers the opportunity to create value from a wasted resource while simultaneously enabling wider access to energy, improved environmental conditions, and economic development for local populations. By eliminating legacy flaring and minimizing new flaring, the company is well positioned to take a leadership role in the ongoing push for sustainable resource development and energy efficiency.
Well Power Website: http://www.wellpowerinc.com/
- Addressing Global Gas Flaring Issues
Licensing Rights to Conversion Technology
Access to Key Affiliates Via Strategic Partner
Advancing Pilot Project Collaboration
Strong partnership with license holder of economical, mobile and scalable technology to process raw natural gas into green fuel and clean power.
Well Power, through its partnership with ME Resource Corp. (MEC), holds the licensing rights to MEC’s solution designed to simultaneously...
Reducing CO2 emissions, create revenue streams with minimal capital expenditure.
The MRU is an assembly of proven commercial technologies with a proprietary micro-reactor system for hydrocarbon processing and catalytic reactions.
This novel system is the key technology component which enables the MRU to be an economically viable and transportable solution.
With the ability to process raw natural gas flows of between 75 Mcf to 250 Mcf, the MRU first conditions and then converts methane and condensates to Syngas (CO and hydrogen).
This is followed by a Fischer-Tropsch reaction to produce Green Fuel™ and power, which is produced from heat generated by exothermic reactions and combustion.
150 Billion cubic meters per year of flared gas is roughly equivalent to:
- Gas use in all U.S. residences for a year
5% of global natural gas production
23% of U.S. natural gas use
30% of EU natural gas use
USD$10 billion lost revenue at $2 per MMBtu
2.4 million barrels of oil equivalent per day
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