Published:
Four Crystal Funding, Inc. Makes First Strategic Investment in Gtherm, Inc.
NEW YORK, July 1 /PRNewswire-FirstCall/ -- Four Crystal Funding, Inc.
(Pink Sheets: PCTU) announced today that it has made an investment in Gtherm,
Inc., a privately held alternative energy company incorporated in theState of
Nevada, whose primary business plan is to produce inexpensive electricity
through the use of its patent pending geothermal energy technology. Because
Gtherm's technology is not limited to deriving energy from hot water areas but
can also be used to derive energy from non-productive or abandoned oil and gas
wells, the Company believes it can be a major force in the rapidly expanding
market for alternative energy sources.
The Company can produce approximately one megawatt of constant electricity
from wells with at least 265 degrees of heat at the bottom of the well. The
proprietary process can bring the heat of deep wells to the surface and use
the heat to generate electricity. Geothermal energy is now the third largest
source of renewable energy inthe United States.
The Company plans to use the technology on idle oil platforms to generate
large quantities of hydrogen which can be sold into the Alternate Fuel Vehicle
Market. This has the potential to positively affect the economics of both oil
and gas development, allowing depleted or newly drilled wells to become energy
generators.
Commenting on the announcement, Michael Parrella, Chairman and CEO of Four
Crystal Funding, Inc. said, "We believe that this geothermal breakthrough
maybe able to supply all ofNew York State's electrical needs by implementing
1,300 wells at a one time capital cost of $6.6 billion. Using a twenty year
amortization of the capital, the cost per kilowatt hour forNew York would be
$.04." In addition, "Using off shore idle oil platforms we can generate
hydrogen with the equivalence of 54,000 gallons of gasoline per month per
well. Best of all the process is completely green."
ABOUT FOUR CRYSTAL FUNDING, INC.
Four Crystal Funding, Inc. is an investment company founded in 2008, whose
purpose is to search for suitable socially and environmentally constructive
investment opportunities both inthe United States and Internationally. The
company's fund has substantial resources and is looking for opportunities in
new markets in a wide variety of industries as well as the more mature
corporate markets. Four Crystal's goal is to invest in companies that will
not only provide significant returns to investors, but will also be of benefit
to society at large. For further information on Four Crystal Funding, Inc.
please visit our website at: http://www.fourcrystal.com.
Contact: Mark Cohen
CEO
Cohen Consulting
718-428-7651
E-mail: pnaclgrup@aol.com
FORWARD LOOKING STATEMENT
Statements in this press release other than historical facts are
"forward-looking" statements within the meaning of section 27A of the
Securities Act of 1933, section 21E of the Securities Exchange Act of 1934.
Since these statements involve risks and uncertainties and are subject to
change at any time, the Company's actual results could differ materially from
expected results. Future operating results of the Company are impossible to
predict and no representation, guaranty or warranty is to be inferred from
those forward-looking statements. Readers are advised to review the
"forward-looking" statements' included in our reports which are filed with the
Securities and Exchange Commission.
SOURCE Four Crystal Funding, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Banking and Finance, Oil, Gas and Energy, Environment, , new york, nevada
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