First Titan Energy Corp., an oil and natural gas company, today noted the promising growth projections for the Gas-to-Liquids industry (GTL industry) provided by a recently published industry research report. FTTN is currently in partnership negotiations with BioFuels Power Corp, a company with state-of-the-art GTL technology that converts flared gas reserves into higher-value hydrocarbon fuel.
Energy industry research firm Energy Business Reports projects the GTL industry should experience sustained growth. The GTL market is currently estimated to be $5.29 billion. BioFuel Power Corp. plans to execute commercialization of its technology for turning flared gas reserves into liquid diesel fuel as a cost-effective fuel option for jets, buses, trucks, and other mass transportation options.
"The Gas-to-Liquids technology possessed by BioFuels Power Corp. is an attractive means to generate potential future revenues for FTTN," FTTN Interim CEO Robert Federowicz said. "The technology is cost-effective and can be used in a variety of platforms. There is a high-earning ceiling with GTL, and we are excited by the prospect of entering this large and fast-growing industry."
FTTN continues to aggressively seek and explore other energy development opportunities via its wholly owned subsidiary, First Titan Energy, LLC. For full operational effectiveness, FTTN looks to partner with companies that harness oil and gas excavation technologies or methods that are unique, more eco-friendly, or new.
For more information, please visit: firsttitanenergy.com
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