Business
American Power Group Expands "Fueled By Flare(TM)" Initiative With Strategic License Agreement
American Power Group Expands "Fueled By Flare(TM)" Initiative With Strategic License Agreement.
About this update from American Power Group Corp.
[{"type":"text","content":"\n \n \n American Power Group Expands \"Fueled By Flare(TM)\" Initiative With Strategic License Agreement\n \n \nAmerican Power Group Expands \"Fueled By Flare(TM)\" Initiative With Strategic License Agreement\n\nCapturing Flared Gas From Remote and Stranded Well Sites Is a Growing Regulatory Necessity; Acquired Proven Mobile Natural Gas Liquids (\"NGL\") Technology Operating in the Bakken Region of North Dakota; Opportunity to Be First Company in the Bakken to Produce Premium Quality Natural Gas for Vehicular Use; Expanded Strategic Focus of Providing Integrated Alternative Energy Solutions With Known Regulatory Compliance\n\n \n LYNNFIELD, MA--(Marketwired - Aug 13, 2015) - American Power Group Corporation (OTCQB: APGI) announced that its subsidiary, American Power Group, Inc. (\"APG\") has signed a license agreement with Trident Resources, LLC (\"Trident\") for the exclusive worldwide right to commercialize Trident's proprietary Natural Gas Liquid (\"NGL\") process technology. In addition, APG purchased substantially all of Trident's operating assets including two existing mobile NGL operating systems currently servicing remote or stranded well-sites for one of the top five E&P companies in the Bakken region. APG has also secured a verbal commitment for $3.25 million of additional project lease financing from several existing shareholders and investors affiliated with members of our Board of Directors to immediately build two additional NGL operating systems. These next generation NGL systems will include the first NGL system with the capability to convert the unconventional Bakken flared gas into a premium quality natural gas for all local APG dual fuel stationary and vehicular applications. The Trident NGL equipment acquisition is forecast to be incrementally accretive in revenue and profitability and positions APG to take a vertical step in providing integrated alternative energy solutions with significant regulatory reductions in diesel and flared gas related emissions. Details of this transaction will be set forth in a Current Report on Form 8-K which will be filed with the Securities and Exchange Commission within the next several days. \n What is the NGL market and where does Trident's NGL process technology fit in? When oil is extracted from shale, a mixture of hydrocarbon gases (methane, ethane, propane, butane, ...