Rockford, Illinois - July 19, 2007 — Ingersoll Production Systems (IPS) today announced it has entered a joint cooperation relationship with Global Resource Corp. (OTC-GBRC:PK). As a Global Resource Corp. (GRC) partner, IPS will manufacture energy production systems at its Rockford, Illinois assembly plants. This partnership makes IPS the single manufacturing source for all GRC equipment, excluding its microwave components.
“The markets for environmentally conscious energy production technology are rapidly expanding, and we can confidently meet that growth with IPS supporting us,” says Frank Pringle, CEO of Global Resource Corp. “Their world-renowned manufacturing facilities will help realize the promise our technology holds. Our initial agreement is for 20 reactors to be fabricated starting August 1, 2007, through July 31, 2008. IPS is assuring GRC of increasing this fabricating amount to 25 reactor units the second year. With their ability to produce 100 percent of the hardware necessary to accommodate our sales projections, it leaves us with one piece absent of contract. That component consists of specific frequency microwave tubes required in order to meet our projected forecasts. This includes additional amplifiers, power supplies and software controls necessary to operate our patent pending process. It is estimated that the initial microwave requirements of approximately 200 units will soon be resolved.”
Jeff Kimberly, President of IPS, states, “We are very excited about our new partnership with Global Resource Corporation because their programs will reduce our dependencies on foreign oil, help clean up our environment and provide diversity and increased manufacturing capacity for our company and our surrounding economy. This partnership will allow GRC to keep up with the growing demand for their technology and provide their systems to a variety of customers worldwide.”
Global Resource Corp.’s fuel extraction technology unlocks energy in the form of oil and combustible gas, in a broad range of raw and recycled materials. The process is environmentally friendly because it produces energy without introducing oxygen, releasing no harmful emissions or other by-products. The process uses a specific microwave frequency determined through material dielectrics to extract hydrocarbons (the building blocks of oil and gas) from tires, dredge, plastics, coal, oil shale, capped oil wells, tar sands, slurry oil and drill cuttings. The hydrocarbons are then converted into clean gas or liquid diesel fuel. This process—called “cracking the hydrocarbon chain”—is performed within a closed-loop vacuum environment in which the system itself uses extracted gas as fuel. This eliminates the need for additional fuel inputs, and makes Global Resource Corp.’s high frequency attenuating wave kinetics (HAWK) microwave extraction entirely self-sufficient.
Ingersoll Production Systems LLC (IPS) was formed in October 2002 as a result of the purchase of the former Ingersoll Production Machinery Division by Dalian Machine Tool Group. IPS supplies dedicated and flexible transfer systems and automated assembly machines worldwide, specializing in the integration of the total process—fixturing, tooling, software, automation and auxiliary equipment. They are headquartered in Rockford, IL with an additional sales and service facility in Troy, MI. DMTG North America is a subsidiary company of IPS.
Global Resource Corp (GBRC) 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, waste oil streams and bituminous coal 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 off-situ raw materials, and is expected to dramatically reduce the cost for oil and gas recovery from a variety of unconventional hydrocarbon resources in-situ. GRC’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.
This news release contains forward-looking statements regarding Global Resource Corp’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 Corp. disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Global Resource Corp’s expectations or future events.
