May 31 2007
Granite Energy today announced the acquisition of a worldwide Licensing Agreement with the University of Utah. The agreement will complement the new “Green” division for Granite Energy offering its clients an alternative energy perspective. This world wide licensing agreement from the University of Utah is for its patent of a small, low cost, highly efficient catalytic slurry reactor, which can be applied in exothermic synthesis gas conversion processes.
The following features distinguish this reactor from “conventional” gas-sparged slurry reactors:
- The excellent dispersion of the gas reactants with the catalyst phase.
- Short residence time.
- High throughput per unit reactor volume.
- Outstanding mass and heat transfer characteristics.
- Operate over a wide range of temperature and pressure.
- Up to one thousand times more efficient than currently known technologies.
Granite’s acquisition will position the company to deliver innovations that fulfill the increasing demand for more alternative energy solutions in the market while also continuing to develop its proven reserves that empowers investors to choose the combination of technologies that best serves their needs. Combined with Granite Energy’s recently acquired “Green Start” subsidiary, the potential exists to literally create fuels from municipal solid waste.
“Bringing Granite Energy together with the University of Utah Research Foundation will allow us to surpass what we currently deliver as an oil and natural gas company, and reinvent our industry as a technology leader. We believe Granite Energy will drive growth and innovation for the entire industry, enabling us to create a foundation to evolve into one of the leading energy companies that is differentiated by solutions that are environmentally friendly,” said Granite Energy’s Chairman, Bruce Lybbert.