NanoLogix and Welch Foods Inc. Sign Agreement for Hydrogen Bioreactor
NanoLogix Inc. (NNLX.PK) announced that it has signed an agreement to install a NanoLogix hydrogen generation system using Welch Food's waste organic matter. The NanoLogix methodology for hydrogen production is being developed for the limitless production of hydrogen from organic containing waste waters. The NanoLogix reactor will utilize multiple proprietary methodologies for synergistically creating a hydrogen bioreactor. The hydrogen production method will utilize organic waste from Welch Food's waste stream. [ more ]
NanoLogix is very much a penny stock and has been steadily declining over the last year. It now sits at a low of $0.15. They are primarily a genomics/biotechnology company and are in the process of transforming themselves into an hydrogen production company. The company first hit my radar when they started to use their biotechnology for bioremediation for toxic land cleanup. The press release above is the first news presented that details a commercialized effort to enter the hydrogen marketplace. Hopefully the press releases will keep flowing from the company to generate some interest in the stock.