Petro River Completes Acquisition of the Havelide SystemTM Gas-to-Liquids Technology
Acquisition Expands Technology-Focused Business of Petro Spring
Houston, TX– March 3,2015 Petro River Oil Corp. (OTCBB: PTRC) (“Petro River” or the “Company”) is pleased to report that its wholly owned subsidiary Petro Spring LLC (“Petro Spring”) has completed the previously announced acquisition of all the assets owned by chemical solutions provider Havelide GTL LLC (“Havelide”), including certain patents, intellectual property, trade secrets, and know-how related to Havelide’s process of converting natural gas to high value liquid products, including naphtha, hydrogen peroxide, and hydrogen gas (the “Acquisition”). The process known as “The Havelide SystemTM” achieves gas-to-liquid (“GTL”) conversion through a proprietary molten salt catalyst.
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