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UMED Enters Natural GTL Technology Commercialization Agreement

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UMED Holdings, a Fort Worth, Texas-based company, declared that it has entered into a licensing deal for commercialization of new natural gas to liquid (GTL) technology, with the 1st Resource Group (1RG) and the University of Texas at Arlington (UT Arlington).

The technology to convert natural gas to clean synthetic fuels had been developed by UT Arlington and advanced by 1RG. The GTL conversion units, which are being developed in a modular, portable fashion, would enable natural gas manufactures to improve their financial outcome.

According to the agreement, UMED will be the primary source and the sub-licensee for commercializing the GTL conversion units. The company would generate revenues as and when the GTL units are deployed. 1RG would get warrants to acquire the common stock of UMED and would also receive additional consideration based upon specific sales.

Source:

http://umedholdings.com/

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