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Article: Global Resource Corporation Announces the Sale of a $3.5 Million Prototype Unit.
- Article from:
- Biotech Week
- Article date:
- November 4, 2009
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Global Resource Corporation (Other OTC:GBRC) ("GBRC"), a developer of a patent-pending microwave technology, announced the company has entered into an agreement for the sale of a 1-ton prototype unit and the grant of a worldwide exclusive license agreement ("License Agreement") with Universal Alternative Fuels, Inc. (the "Licensee") (see also Global Resource Corporation).
Under the terms and conditions of the License Agreement and Purchase Order, the Licensee is to purchase a 1-ton prototype unit for oil shale processing applications, to be developed and engineered by GBRC. The agreement calls for a total price of $3.5 million to be paid to GBRC for the unit, ...