AuraSource Purchases Stake in Ultrafine Particle Processing Technology | 2010-08-12
AuraSource, Inc. (OTCBB: ARAO), a developer of clean energy technology, today announced that its wholly owned subsidiary, AuraSource Qinzhou Co., Ltd., has entered into an agreement with Beijing Pengchuang Technology Development Co., Ltd. to purchase half the intellectual property related to ultrafine particle processing.
Pengchuang Tech developed a highly efficient and low energy consumption grinding technology, which utilizes fluid shock waves to make ultrafine particles. This technology can be applied to the coal water slurry, solid lubricant and other material grinding processes. Through the joint development and ownership agreement, AuraSource will enrich its intellectual property portfolio, enabling the further development of AuraCoal, its Hydrocarbon Clean Fuel technology.
AuraSource Qinzhou will utilize the particle grinding technology in its AuraCoal Qinzhou production line, as well as license it to others in non-related industries.
Mr. Zhang Xiaoding, the President of Pengchuang Tech, said, "It is very exciting to partner with AuraSource and join their clean coal development efforts. Our grinding technology will certainly lend to the reduction of energy consumption during the AuraCoal operations, resulting in a more efficient process."
Mr. Philip Liu, AuraSource's CEO, said, "We are very pleased that Pengchuang Tech has partnered with us to develop clean coal technologies. The particle grinding technology enables our AuraCoal system to be even more cost effective."
AuraSource, Inc. is focused on the development and production of environmentally friendly and cost effective industrial energy sources and feedstock used for industrial applications. AuraSource's core technology includes ultrafine grinding and impurities removal processes. Initial industrial applications of AuraSource technology are ultra-fine coal water mixture for heavy oil substitution, and low grade iron ore fine and slimes beneficiation.
For more information about AuraSource, please visit www.aurasourceinc.com.
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