ARLINGTON, Texas, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI), an advanced gas-to-liquids (GTL) technology development company, today revealed additional information regarding valuable outputs produced by the company’s proprietary G-Reformer™ catalyst reactor and Fischer-Tropsch (FT) technology which combine to form the “Greer-Wright” GTL solution.
Originally developed to convert natural gas into ultra-clean synthetic fuel, recent research and development activity has shown that the technology can also generate high-value chemicals and alcohols. The chemical outputs include n-Hexane, n-Heptane, n-Octane, n-Decane, n-Dodecane, and n-Tridecane. Alcohols produced include ethanol and methanol. The company has identified worldwide industrial demand for these outputs which will significantly improve the economic return on investment (ROI) of GTL plants that are based on GWTI’s technology. GWTI is a development-stage company with plans to commercialize its unique and patented technology.
These developments are the result of research and development conducted in conjunction with the University of Texas at Arlington. Prior joint efforts resulted in the development of a unique fractionation procedure that the company has named Fractional Thermal Oxidation™ (FTO). FTO utilizes GWTI’s proprietary reformer processes and catalysts to break down and transform natural gas carbon molecules into high-value chemicals and high cetane fuel as an offtake. The company’s technology is field-locatable and can process a variety of gas sources including pipeline gas, stranded gas, coal-bed methane, bio-gas, and flared gas.
Flared gas is an area where the company’s technology can reduce a significant amount of atmospheric carbon pollution. The World Bank has recognized the environmental cost of flaring and has formed the Global Gas Flaring Reduction Partnership (GGFR) consisting of oil companies, government agencies, and international organizations. The GGFR seeks to end routine gas flaring and eliminate this source of pollution.
The GWTI technology offers a solution to the gas flaring problem by converting flared natural gas into sulfur-free high cetane liquid fuels along with high-value chemicals and pure technical water. In Texas, where GWTI is based, the Texas Railroad Commission (RRC) recently revised its rules for producers to further reduce flaring across the state.
In a statement, Ray Wright, co-founder and chairman of the board said “We are pleased to have developed technologies and processes that can end gas flaring using our G-Reformer™ technology, with the added benefit of producing valuable products that can be sold to meet human and industrial needs. We have come a long way through many years of R&D work and we are excited to be close to commercializing our technology.”
Kent Harer, GWTI’s president said "The added ability to produce high-value chemicals will add significantly to plant profitability. Our commitment to investments in advanced R&D, and the multiple patents owned by the company have made all of these developments possible. We look forward to showing the world how to make high-demand products in a clean and environmentally responsible manner from natural gas that today is being vented or flared by oil and gas producers. GWTI can dramatically reduce these sources of pollution by using the gas to produce economically significant outputs consisting of chemicals, clean fuel, and technical water. GWTI has the technology to change the world’s view of clean fuels, highlighted by the use of natural gas, in a highly profitable manner.”
Mr. Harer concluded, “We are pleased to be the company leading the world in the quest to reduce carbon emissions by utilizing those emissions to create clean products that are in high demand. We will continue to strive to develop technologies by which all renewable and sustainable clean fuel solutions are measured.”
About Greenway Technologies, Inc.
Based in Arlington, Texas, the company, through its wholly-owned subsidiary, Greenway Innovative Energy, Inc., is engaged in the research and development of proprietary GTL syngas conversion systems that can be scaled to meet oil and gas field production requirements. The company’s patented technology has been integrated into its recently completed first-generation commercial G-Reformer™ unit, a unique component used to convert natural gas into synthesis gas. When combined with a FT reactor and catalyst, G-Reformer™ units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and biomass to produce fuels including gasoline, diesel, jet fuel, and methanol as well as valuable chemical outputs. When derived from natural gas, these fuels are incrementally cleaner than conventionally produced oil-based fuels.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Greenway's proprietary gas-to-liquids system, potential business developments and future interest in our clean fuel technologies.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with the University of Texas at Arlington, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
CONTACT:
Kent Harer, President
Greenway Technologies, Inc.
(800) 289-2515
Investors & Analysts Contact:
Greenway Investor Relations
(800) 289-2515
ir@gwtechinc.com
SEC filings can be found at:
http://gwtechinc.com/SEC-filings/
For more information, visit GWTI's website: www.gwtechinc.com
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