SGI International and Mitsubishi have signed an agreement to develop a joint-venture company specializing in the conversion of low-grade coal to oil and gas.
The deal hinges on the further development by Mitsubishi of a proprietary liquid-from-coal technology, owned by California-based SGI and another partner. Once Mitsubishi fulfils that and other commitments, including a cash payment, a jointly held company will be formed to hold the patent for the process.
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