UMED Holdings, University of Texas, sign agreement for new natural gas to liquid technology

UMED Holdings has signed a licensing agreement with The University of Texas at Arlington and 1st Resource Group (1RG) to commercialize a new process for converting natural gas to clean, synthetic fuels (GTL).

The process has been created by University of Texas at Arlington.

Under the agreement, UMED will be a sub-licensee and primary source for the commercialization of the GTL conversion units while 1RG will participate in the revenues and receive warrants to purchase UMED common stock.

The GTL units are expected to generate revenues for UMED as the units are deployed.

The small-scale portable, modular will enable natural gas producers to achieve stronger financial performance.

UMED Holdings president Ric Halden said the process will help reduce foreign dependency on oil.