LAS VEGAS, NV — (Marketwire) — 07/13/12 — (OTCQB: GBEN) (PINKSHEETS: GBEN) (“Global” or the “Company”), a development stage company engaged in the clean technology development sector is pleased to announce that it has executed the close of a commercial assignment agreement with Atrius Holdings in regards to the assumption of patents and related interests in an alternative energy technology identified as the MyCroft Hydrogen R-LEG Fuel Cell.
The MyCroft technology is an innovative Recirculating Loop Electric Generator (R-LEG) which uses hydrogen as a catalyst but not as a fuel source. The technology shows considerable promise as a fuel cell power source utilizing mechanical action as opposed to chemical reaction to create electricity. Early studies show distinct promise in micro power environments with the distinct potential for eventual industrial scale applications.
Global Resource Energy believes this technology offers great promise to dramatically increase the adoption of hydrogen-based solutions as a clean, sustainable and environmentally safe alternative to many traditional power sources. The Company aims to seek qualified sources of funding in order to further the development of this innovative technology with the eventual target to fully realize the economic scope of the MyCroft Technology with proof-of-concept studies through to advanced stage application development aimed at validating a vast number of potential commercial applications. Further information regarding the technology, events and activities will be available on the company–s soon-to-be launched website at: .
In related news, the Company is pleased to announce the appointment of Mr. Thomas W. Herdman as founding member of the company–s advisory board. Mr. Herdman brings over 20 years of direct international management experience as a consultant and advisor in the areas of finance and development focused on global natural resource, new technology and energy related projects. He specializes in capital financing and project development primarily targeting asset acquisitions and divestitures. His focus is in Asian markets but recent endeavors have included participation in gold exploration ventures in Africa as well as interests in several North American downstream oil and gas projects. Other activities have included wide ranging investments in brewery operations, alternative energy, fitness organizations and language training institutions. His consulting efforts have included work on behalf of IBM Japan, Baskin-Robbins International, Honda Corporation, JRA, Daiwa Securities and several international law firms in Tokyo. He enjoyed 10 years as an instructor with the faculty of law at Chuo University in Tokyo and is the Founder and President of VQ International Management Services of Fujisawa, Japan.
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As part of the Company–s public disclosure as a reporting issuer, additional details of the Company–s business, finances, appointments and agreements are filed with the Securities and Exchange Commission–s (“SEC”) EDGAR database. For more information, visit: .
(OTCQB: GBEN)
Global Resource Energy is a development stage clean technology company interested in the development and commercialization prospects of new and innovative fuel cell technologies aimed at creating a safer and cleaner environment while improving the health of the domestic economy. Sustainable growth is the cornerstone of the Company–s mandate and vision and Management embraces the convergence of environmental solutions and economic viability as a yardstick for stakeholder success. Find out more at .
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, timelines and methods, as well as financial projections for the size of the potential market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new technologies, projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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