FORT WORTH, TX--(Marketwired - Aug 24, 2017) - Greenway Innovative Energy, Inc. (GIE), a wholly-owned subsidiary of Greenway Technologies, Inc. (
Investor Conference Call
A shareholder call has been scheduled for 3:00 pm CDT on August 31, 2017 to update shareholders on recent events and plans.
Telephone Number: 319-527-2480
Date: Thursday, August 31, 2017
Time: 3:00 pm CDT
Speakers: Chairman and President of UMED, Pat Six, President of GIE, Ray Wright, GIE Vice President of Operations, Tom Phillips.
Greenway Gas-to-Liquid (GTL) Q&A, August 2017
Why is gas-to-liquid important?
According to the US Energy Information Administration, stranded gas represents 1/3 of all natural gas supplies. Stranded gas can't be sold because it is located too far from processing facilities. GIE has the first technology that can be field-deployed to process stranded gas.
What is the global impact?
The GIE gas-to-liquid GTL technology is akin to the mainframe-to-minicomputer-to-server evolution that revolutionized computing when large mainframes were replaced with more efficient, manageable systems. Before GIE's new technology, all functioning natural gas-to-fuel plants consisted of sprawling, large-scale facilities with price tags in the billions of dollars.
Why is this GIE's technology important?
Before GIE's GTL methodology, field-located, small-scale plants have been unsuccessful at economically converting natural gas to synthesis gas (syngas) and then to liquid fuels. GIE has proven that its process can convert natural gas to syngas in a compact module. Producing syngas is a necessary step in producing liquid fuel. To produce syngas, GIE uses its patented G-Reformer™ based on Fractional Thermal Oxidation™ (FTO), a newly developed method to convert natural gas into syngas that can be scaled for field use. The G-Reformer™ is "what's new" with GIE's patented technology.
Is only fuel produced?
The GIE GTL plants, with an expected lifespan of 20-plus years, will produce three important outputs; water, fuel, and thermal energy. The thermal energy can be converted into electricity for sale locally or for sale to the electric grid.
What is the business potential of this new GTL system?
The company is in active talks with potential joint venture partners for its first commercial field-located gas-to-liquid (GTL) plant that will produce between 125 and 500 barrels per day of fuel. The joint venture project arrangement is expected to provide the company with funding at a level of between $20M and $50M with an ongoing profit sharing arrangement to the benefit of the company and its partner.
According to Greenway Innovative Energy President Ray Wright, "In addition to joint venture partners, we are also in talks with state and local government agencies regarding programs for economic and clean energy development showing broad interest in our GTL system. GIE's GTL plant offers the unique ability to produce a range of fuels including high cetane diesel and jet fuel, from a natural gas resource, broadening the market for our unique technology."
President of Greenway Technologies Inc., Pat Six, stated that, "The expected cash infusion will help propel the company from the technology development phase into a long-term growth phase. Our immediate goal," he said, "will be to commercialize our patented GTL technology allowing numerous global deployments to harvest and monetize stranded natural gas profitably over the next 50-plus years. We visualize worldwide plant deployment benefiting natural gas holders as well as communities in need of the plant's outputs."
Where can the plants be deployed?
The GIE GTL system can be implemented anywhere where there are ample supplies of gas for conversion. Natural gas is plentiful in a variety of forms, all business opportunities for GIE, including:
Pipeline and storage facilities - gas in the system
Coalbed - methane produced in the process of coal mining
Flare - gas burned by industry, a major environmental concern
Biomass - gas from waste products
Associated - gas found onshore and offshore when drilling for oil
Coalbed, flare, biomass, and associated gas all represent environmental hazards if leaked or flared into the atmosphere. The GIE GTL solution offers a system to process these gases into incrementally cleaner liquid fuels, water, and thermal energy.
GIE's Vice President of Operations, Tom Phillips, said that, "Our GTL platform will provide life sustaining elements; clean water, clean burning fuel, and cleanly generated electricity to support underdeveloped communities that have stranded or other gas supplies and can positively impact both people's lives and our environment." He added "This is the ideal technology to process coalbed gas, one of our key markets. Plant deployment at coal mine locations," he said, "will help revitalize coal-country communities here in the United States."
Are there other environmental benefits?
In addition to processing gas that would otherwise be flared or vented into the atmosphere, the clear fuel produced by the company's plants will provide an incremental environmental improvement over petroleum-based fuel. The GIE fuel is based on natural gas, a cleaner energy source with little or no harmful emissions from the process. Also, refinery processing is not required, eliminating the cost and delays associated with further processing and distribution of the final fuel products to markets.
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.
Contact Information:
Greenway Technologies, Inc.
Contact Investor Relations
817-346-6900