ME Resource Corp. announced a tentative agreement with Ztek Clean Energy Corp. for an exclusive license for the use of intellectual property related to proprietary technologies involving the conversion of wasted energy into electrical power or liquid fuel in the oil and gas industry within Canada.

All material terms and conditions have been finalized. Beyond the territory of Canada this perpetual license also includes an exclusive option to license international territories for a 5 year period which continues with a right of first refusal for an additional 5 years. This provides MEC a global opportunity to export its Canadian technology to international markets.

The company will further innovate the IP to develop a mobile and modular micro-refinery unit which will be deployed at the wellhead and have the ability to process raw natural gas into either liquid fuels or electrical power. The patented technology is based on the incorporation of fuel cell design principles with a steam reformer creating a durable and robust system that acts as a fuel processor for hydrocarbon found in unprocessed natural gas.