SOURCE: Global Resource Corporation

Global Resource Corporation

August 18, 2010 08:30 ET

Global Resource Corporation Signs Off-Take Agreement to Pre-Sell 8,000 Tons of Carbon Bi-Products to GTI

MORRISVILLE, NC--(Marketwire - August 18, 2010) -  Global Resource Corporation (PINKSHEETS: GBRC), a developer of a patented energy-efficient microwave-based technologies for recycling tires, upgrading petroleum products and converting other materials to higher value hydrocarbon-based fuels or carbon materials, today signed an off-take agreement with GTI, a New Jersey-based environmental/recycling company with over 10 years of by-product synergy experience (www.gti-e.com), for the sale of all 8,000 tons per year of the carbon bi-products produced from a GBRC three ton per hour machine.

The companies have agreed in terms under which GTI will acquire all the carbon by-products produced by GBRC. In addition to purchasing the carbon bi-products, GTI will play a major role in assisting the company through identifying key end users for GBRC's patented microwave technology.

"This agreement is a major achievement for GBRC and provides confidence to our customers that there is a solid market for the carbon bi-products from our proprietary conversion process while validating our green technology has clear commercial uses. Based on the increasing demand in the United States for carbon-based products, we are continuing to build strong relationships that will allow us to penetrate new markets as we build future facilities. Our campus staff in Raleigh, North Carolina, has several strong relationships that will enable us to grow our absolute advantage in the production of high-end carbon commodities. One of our key employees, Dr. R.B. Roy, is currently involved in a consulting role with Al Gore's 'Repower America' program which is evaluating the use of carbons for extrusion products, mechanical goods, foot wear, hoses, inks, and molded products. These relationships along with the contract with GTI create strong value for our shareholders, while providing the company with a revenue annuity from our future facilities," stated Mr. Ken Kinsella, CEO of Global Resource Corporation. 

About Global Resource Corporation

Global Resource Corporation, (PINKSHEETS: GBRC), is a developer of a patented microwave technology and machinery that extracts oil and petroleum products from shale deposits, tar sands, capped oil wells, bituminous coal and processed materials such as tires and plastics as well as dredged soil from harbors and river bottoms. Its process produces significantly greater yields and lower costs than are available using existing technologies. Because the process takes place in an enclosed environment it is emission-free and an efficient and cost-effective tool for cleaning environmental wastes and toxic materials. For more information see: www.globalresourcecorp.com

Forward-Looking Statements

This news release contains forward-looking statements regarding Global Resource Corporation's business strategies and future plans of operations. Forward- looking statements involve known and unknown risks and uncertainties. The forward-looking statements contained in this news release speak only as of the date hereof and Global Resource disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Global Resource's expectations or future events.

Contact Information

  • Contact:
    Investors:
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    Alliance Advisors, LLC
    212.398.3486
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    Matt McLoughlin
    Senior Account Executive
    Gregory FCA
    610.996.4264
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