Global Resource Corp. Announces Contract With Anticipated Annual Revenues of a Minimum of $2,000,000 for Steel Output From Its T
December 18 2006 - 5:11PM
PR Newswire (US)
WEST BERLIN, N.J., Dec. 18 /PRNewswire-FirstCall/ -- Global
Resource Corp. (OTC:GBRC) (BULLETIN BOARD: GBRC) announced today
that the company has acquired a contract with C and K Scrap Metal,
a Newark, New Jersey based company, for the purchase of 100% of the
output of steel from the first tire plant utilizing its patent
pending microwave technology. GBRC expects to produce approximately
20 million pounds of scrap steel each year from the company's tire
processing plant. At current market prices of 10 cents per pound,
it is expected that GBRC will generate revenues of $2,000,000
annually from the sale of the scrap steel with the tire plant
running at optimal levels. Scrap tires are a significant problem
worldwide. Disposal of these tires presents significant
environmental and safety hazards, including fire, overflowing
landfills, and severe pollution of the atmosphere. Approximately
290-300 million scrap tires are generated in the United States each
year alone. This does not include the millions of tires currently
in landfills and that have been neglected over the years. While
existing applications do exist for the disposal of a minimal
portion of these tires, the current applications are not sufficient
to process the growing numbers of scrap tires generated annually
and by no means are these processes environmentally safe or cost
effective. GBRC's patent pending microwave technology goes beyond
addressing the current disposal issues by providing a solution that
is both cost effective and environmentally safe, and allows for the
recovery of virtually all of the original materials found within
these scrap tires. Frank Pringle, CEO of GBRC, stated: "GBRC's
technology has the means to potentially change the way hundreds of
millions of scrap tires are disposed of annually. However, we
believe in providing a method that goes beyond proper disposal in
an environmentally safe manner to address the as important recovery
aspect of valuable original materials found in these hundreds of
millions of scrap tires for reuse. GBRC's initial tire plant will
process up to 11 million tires annually. GBRC's technology will
yield 19.9 pounds of resalable material from each tire, including
carbon black, hydrocarbon gases, oil, and two pounds of steel.
Nothing short of remarkable when one considers all of this is from
one tire abandoned in a landfill." About Global Resource
Corporation: Global Resources has a patent pending process that
allows for removal of oil and alternative petroleum products at
very low cost from various resources, including shale deposits, tar
sands and waste oil streams with significantly greater yields and
lower costs than are available utilizing existing known
technologies. The process uses specific frequencies of microwave
radiation to extract oils and alternative petroleum products from
secondary raw materials, and is expected to dramatically reduce the
cost for oil and gas recovery from a variety of unconventional
hydrocarbon resources. Global's technology will not only be
developed to extract oil from shale, but from depleted oil fields
in the US and elsewhere, many of which still contain more than half
of the hydrocarbons originally in these fields, because the
residual hydrocarbons are too viscous to extract with conventional
technology. Contact: Global Resource Corporation Phone: (856)
767-5661 Fax: (856) 767-5664 This news release contains
forward-looking statements regarding Global Resource'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. DATASOURCE: Global
Resource Corp. CONTACT: Global Resource Corporation,
+1-856-767-5661, or fax, +1-856-767-5664, or Web site:
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