Thursday, July 31, 2008

Earth Search remote sensing moving HQ to Boston

By Mass High Tech Staff

Montana-based Earth Search Sciences Inc. reports it plans to move its corporate headquarters to Boston.

Earth Search (OTCBB: ESSE) focuses on developing domestic, inland oil resources. The company cited Boston’s proximity to the venture capital community and academic institutions and financial markets as reasons for the move.

Earth Search’s technology allows for remote sensing of the chemical properties of substances on the earth’s surface from high altitudes. The company said its technology could be used to identify specific minerals and substances by their reflective patterns.

Earlier this month, the company appointed a new CEO, Luis Lugo, and bought General Synfuels Inc. Also in July, Earth Search Sciences hired Industrial Systems Inc. to design components for Earth Search’s oil shale gasification technology for testing.

Earth Search will also keep an office in Delta, Colo., where the gasification technology will be tested.

Earth Search reported a 2008 net loss of $5.1 million on zero revenue.