Subsidiary of Earth Search Sciences, Inc. (ESSE.OB) Announces Formation of Technology Fund for Oil Shale Development
Earth Search Sciences, Inc. announced late yesterday that their subsidiary General Synfuels International, Inc. has formed Patriot’s Oil Shale Technology Fund L.P. They formed this to complete funding of the Phase 1 construction of a full-scale prototype oil shale plant under construction in Rock Springs, Wyoming.
Patriot’s Oil Shale Technology Fund L.P. is a $10 million partnership of American capitalists. The objective of this research and development type partnership is to prove the patented “Omnishale©” technology General Synfuels developed can recover large amounts of oil and gas products from American oil shale and oil sands in an inexpensive, economically viable, and environmentally safe manner. General Synfuels International, Inc. /Earth Search Sciences, Inc. accepted an initial Private Placement of $2 million concerning the project.
General Synfuels International, Inc. (GSI) has boutique investment bank, NBT Capital Partners LLC, and their Chairman/Founder Tobin Smith leading the Fund. Mr. Smith stated, “NBT Capital Partners was formed to help finance transformational American companies, like GSI, dedicated to extracting precious oil and gas reserves from the massively abundant oil shale and oil sands resources we have in America with an environmentally safe technology process.”
Headquartered in Kalispell, Montana, the structure of Earth Search Sciences, Inc. is as a holding company with a number of subsidiary companies. Their focus is developing advanced technology applications for the exploration and discovery of natural resources.
Headquartered in Wellesley, Massachusetts, General Synfuels International, Inc.’s commitment is to transforming fossil fuels development and moving the U. S. toward energy independence. The Company developed and patented in-situ gasification technology, “Omnishale©”, to recover oil and gas products from oil shale, tar sands, and heavy oil.
In-situ technologies are an alternative to the environmentally detrimental and expensive strip mining approach to traditional oil shale production. The Company’s in-situ gasification technology has a minimal environmental footprint, and does not pose significant subsurface structural and groundwater contamination risks. It generates very few emissions, uses very little water, and has the potential to capture and sequester all carbon dioxide produced.
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