Bayshore Petroleum Corp. Announces License Agreement for Desulphurization of Hydrocarbons Using Ultrasonic Process
July 30, 2014 (Source: Marketwired) — Bayshore Petroleum Corp. (“Bayshore” or the “Corporation“) (TSX VENTURE:BSH) is pleased to announce that it has entered into a Master License Agreement with International Ultrasonic Technologies Inc., (“IUT”) a private technology company based in Carstairs, Alberta, Canada (www.internationalultrasonics.com). IUT, which owns 9 U.S. patents and equivalent worldwide patents related to the use of ultrasonic waves in conjunction with catalyst to desulphurize hydrocarbons without adding hydrogen. The Master License Agreement allows Bayshore to utilize the patented ultrasonic technology in all potential hydrocarbon applications in Canada. Under the terms of the Master License Agreement, Bayshore will have an exclusive right to use and to sublicense the patented ultrasonic technology in Canada for 20 years. The Master License Agreement also grants Bayshore a 2-year option to acquire exclusive rights to this technology in other countries.
Ultrasonic desulphurization involves passing a hydrocarbon stream through an ultrasonic wave chamber with an added proprietary catalyst to separate sulphur from hydrocarbons in an economic manner. The traditional method of reducing the sulphur content of hydrocarbon streams using hydrogen is expensive and energy intensive. The patented ultrasonic wave process with catalyst is much more efficient and does not require high temperature, high pressure or hydrogen. The patented process has been field tested in different countries and successfully reduced sulphur content of different processed petroleum products including natural gas liquids (NGL), gasoline, kerosene and diesel to less than 20 parts per million, which meets the ultra low sulphur transportation fuel standards of many countries. Bayshore believes this technology has the potential to provide additional benefit to its planned heavy-to-light oil cold catalytic cracking technology worldwide, and will contribute to upgrading raw, heavy and sour crude oil directly into light, sweet product fuel.
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Bayshore is a Calgary, Alberta based corporation engaged in the technology expansion applicable to heavy oil and other unconventional oil resources. The Common Shares are listed on the TSX Venture Exchange under the trading symbol “BSH”.
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