FORT WORTH, Texas, May 6, 2014 (GLOBE NEWSWIRE) -- Greenway Innovative Energy, Inc. (GIE), provider of proprietary, mobile Gas-to-Liquids (GTL) technology, has entered into a Sponsored Research Agreement (SRA) with the University of Texas at Arlington to further refine and enhance its cutting-edge technology which converts natural gas to clean synthetic fuels.
The purpose of the Research Agreement with the University is to continually improve the existing Fisher-Tropsch synthesis process for the conversion of natural gas into liquid hydrocarbons, or synthetic fuels. Greenway, a wholly-owned subsidiary of UMED Holdings, Inc.(OTCQB:UMED), and the University of Texas at Arlington have been collaborating on Greenway's small-scale, mobile, and portable, Gas-To-Liquid (GTL) conversion units that can be located next to various existing sources of natural gas. These units can produce synthetic fuel(s) such as synthetic diesel fuel or jet fuel.
Each conversion unit will produce up to 2,000 barrels of sulfur-free, clean burning synthetic fuel per day. The units will require no major change in existing infrastructure and provide up to 10 professional jobs per unit.
"We are confident that our relationship with the University will greatly enhance and effect the continual development of our industry changing technology," said Greenway President, Ray Wright.
About Greenway Innovative Energy, Inc.
Greenway Innovative Energy, Inc., located in Fort Worth, TX is comprised of oil and gas professionals developing mobile, small-scale Gas-to-Liquid (GTL) conversion units intended to take advantage of the abundant supply of natural gas resources throughout the world by way of improved and environmentally conscience technology. The advancement of this technology will enable natural gas producers to achieve stronger financial performance through conversion of natural gas to clean synthetic fuels. The conversion unit will be particularly useful in its application to stranded gas fields or stored gas facilities. Visit http://greenwaygtl.com to learn more.
About UMED Holdings, Inc.
UMED Holdings, Inc. is a Fort Worth, Texas-based global diversified holding company that owns and operates businesses in a variety of industries including energy, oil and gas, aerospace, food and beverage, and mining. Visit http://umedholdings.com to learn more.
Forward Looking Statements
This document contains forward-looking statements and information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.