FORT WORTH, Texas, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Greenway Innovative Energy (GIE), a wholly-owned subsidiary of Greenway Technologies, Inc. (UMED: OTCQB), has begun construction of its first commercial synthesis gas generating module, called the G-Reformer™, which converts natural gas to synthesis gas. The G-Reformer™ is a critical component of the company’s gas-to-liquids (GTL) technology solution.
According to GIE President Ray Wright, the unit will be the foundational component of the company’s first field production plant and “marks a shift from the research and development stage to the commercialization stage for this technology. We are planning the rollout of commercial plants over coming years and look forward to supporting GTL requirements globally as our company grows.”
“In our discussions with prospective joint venture partners,” Mr. Wright said, “we are finding significant interest due to our unique ability to scale plants to meet field requirements. Our technology offers attractive economics, environmental benefits, and the ability to monetize stranded or associated natural gas resources. In addition,” he said, “our technology can be used in the field to process harmful flared and vented gas emissions, reducing their environmental impact.”
The company has invested heavily in this technology and has been doing research for over nine years. Tom Phillips, Vice President of Operations at GIE, said that the company “can build profitable, smaller-scale plants, located where needed. Our plants,” he said, “will produce liquid fuels that can be easily transported and used in local markets, if desired, without the need for further refining downstream.” He added that the company’s design specification “converts natural gas to synthesis gas at a much greater efficiency ratio than legacy GTL processing systems. Our GTL system is designed for reliability and longevity in the field, and we look forward to breaking ground on our first plant.”
The company plans to deploy its first GTL plant in the first half of 2018.
Forward-Looking Statements
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