AuraSource Licenses Low-Temperature Catalytic Process | 2009-09-21
AuraSource, Inc. (PINKSHEETS: ARAO ), a developer of hydrocarbon clean fuel technology, has entered into an agreement with the Energy and Environmental Research Institute of Heilongjiang ("EERI"), a Chinese government-owned energy research institute which is affiliated with China Chemical Economic Cooperation Center ("CCECC"). Under the agreement, EERI agreed to an exclusive license of EERI's patented technology in the Gulf of Tonkin Economic and Development Area as well as Guangxi Province.
The technology consists of extracting clean fuel, such as lightweight fuel oil and oil dry gas, from bituminous oil shale by low temperature catalyzing.
Philip Liu, AuraSource's CEO, stated, "With oil shale and low ranking coal being so prevalent worldwide, this technology will increase yields dramatically while reducing the resultant waste water, air pollution and residual pollution."
Cao Zhide, EERI's President, commented, "AuraSource's ability to secure high-grade oil shale resource together with its strategic location for processing oil shale puts it in a very unique position to utilize our technology. We look forward to a long-term cooperation between our Chinese and US companies."
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