Next Fuel, Inc. (OTCQX:NXFI), announced that it signed an agreement to conduct coal-to-gas operations in India, on a pilot project basis.
As quoted in the press release:
Under the agreement, Next Fuel will conduct a pilot project at Visat’s site in Gujarat, India to produce CBM (natural gas) using the Company’s proprietary biogenic coal-to-gas (CTG) technology. Visat will conduct the testing in an area where it has completed CBM wells but has not documented any methane production. Upon achieving certain goals, Next Fuel and Visat have agreed to discuss a long-term partnership to expand the commercialization of the CTG technology throughout India.
Next Fuel’s President and CTO, Song Jin, said:
India is one of the few countries with abundant deposits of coal that can’t be mined due to technical and economic limitations. Our CTG technology offers a unique opportunity for coal resource owners in India and the region to produce natural gas from those reserves. Based on recently completed laboratory tests utilizing coal samples provided by Visat, we believe that we will be successful in producing fresh natural gas at the site.
Get the top stories on resource investing FREE!Learn what is going on before you buy from this FREE Special Report, Who is Kitco? to US Mint: Sold Out! – Top Articles from Resource Investing News.