Greenway Technologies Inc. (OTC: GWTI) and INFRA Technology LLC, through its wholly-owned subsidiary, Greenway Innovative Energy (GIE), have signed a non-exclusive Memorandum of Understanding (MOU) to jointly design and deliver profitable Gas-to-Liquids (GTL) plants combining their respective proprietary technologies – INFRA’s xtl and GIE’s G-Reformer®.
Fort Worth, Texas, Aug. 31, 2018 (GLOBE NEWSWIRE) -- Greenway Technologies Inc. (OTC: GWTI) and INFRA Technology LLC today announced they have entered into a non-exclusive Memorandum of Understanding (MOU) agreement for the joint design, engineering, and development of economical, transportable, reliable and profitable GTL plants using a combination of the two companies innovative and proprietary technologies.
As the industry for small scale GTL plants evolves and the technology becomes more readily available, companies have focused on only one or two of the necessary components to build and deliver a turn-key, profitable facility. INFRA is the global leader in Fischer-Tropsch (F-T) reactor and catalyst design. GIE has developed and patented a transportable, scalable and economic converter for synthesis gas generation needed to feed an F-T reactor called the G-Reformer®. In addition to these necessary components, building GTL plants requires the leadership and financial discipline of an Engineering Procurement Contractor (EPC) to deliver against top level contracts for on-time and on-budget build programs. GIE has been working with Audubon Engineering for several years and named the company its EPC firm in 2018.
This agreement addresses the need to process various natural gas streams into liquid fuels. There are worldwide initiatives underway to reduce the amount of flared and vented gases which waste valuable natural resources and contribute to CO2 pollution. By combining the capabilities of both companies, the time to deploy plants capable of processing flared or vented gas will be reduced. GTL systems from the companies can also be used to process coal and biomass assets providing the ability to convert these natural gas streams into useable products including diesel, gasoline, and jet fuel. These fuels, derived from natural gas, will be incrementally cleaner than similar petroleum-based fuels.
To date, very few small-scale (less than 1,000 bpd) plants have progressed past the feasibility and pre-FEED (Front End Engineering Design) phase. This is because no one company has had all the elements necessary to complete the component design and integration to deliver a fully functioning GTL plant. This MOU brings together the leading reformer technology from GIE, G-Reformer®, necessary to convert natural gas into synthesis gas and INFRA’s xtl, a highly efficient F-T reactor and catalyst. Together, the components from each company will combine to create a GTL solution which will maximize conversion to a desirable end product.
This MOU provides first-mover advantage for deploying small-scale GTL plants in a economical, transportable, and profitable fashion within a risk profile that is acceptable to investors and gas holders to monetize stranded gas, trapped gas, coalbed methane, biomass, as well as flared or vented gas.
Currently, INFRA’s team is performing start-up operations on a 100 bpd demonstration plant (M100) located in Wharton, Texas. The company’s plant will convert natural gas to SynCrude, with components of diesel, gasoline, and jet fuel. This demonstration plant has a modular design that will allow integration of other components for testing, such as the G-Reformer® technology from GIE, and the catalysts that produce varying fractional amounts of end-product for sale. This plant also provides the scalable design baseline for larger plants and serves as an economic model for the technology, process, and design proof.
About INFRA GTL Technology:
Based in Houston, Texas, INFRA Technology Group is an innovation-based company, developing and commercializing advanced energy and materials technologies that aim to profoundly alter energy, materials and resource systems worldwide. INFRA Technology group has developed and patented a proprietary Gas-to-Liquids (GTL) technology (INFRA.xtl), based on the Fischer-Tropsch synthesis process, for the production of light synthetic oil and clean liquid synthetic transportation fuels from natural and associated gas, as well as from biomass and other fossil fuels (XTL). INFRA has commissioned its own production of the proprietary Fischer-Tropsch catalysts. Production capacity is up to 30 tons per year. Fischer-Tropsch catalysts are being produced since June 2015. INFRA own and operate two pilot plants for design optimization of F-T reactor and catalyst processes. INFRA own and operate a Modular transportable GTL plant (M100) for processing natural and associated gas into synthetic oil, producing 100 barrels of synthetic oil from 1 million cubic feet of gas per day. M100 produces synthetic oil – a mixture of gasoline and diesel fractions in 60/40 proportion. Up to 45% kerosene fraction. The plant is located in Wharton, TX and occupies only 4,000 square feet of space.
Based in Fort Worth, Texas, Greenway Technologies through its wholly owned subsidiary, Greenway Innovative Energy is engaged in the research and development of small-scale gas-to-liquids (GTL) syngas conversion systems that can be scaled to meet individual field requirements. The Company’s proprietary and patented technology is realized in the Company’s recently completed first generation commercial G-Reformer® unit, a unique and critical component to the Company’s GTL technology solution for converting natural gas to diesel and jet fuels. The Company also owns 1,440 acres of placer mining claims on federal Bureau of Land Management land located in Mohave County, Arizona. The company was formerly known as UMED Holdings, Inc. and changed its name to Greenway Technologies, Inc. in June 2017.
Safe Harbor Statement: All statements from Greenway Technologies, Inc. in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the PSLRA of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While the Company’s management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, among others, statements regarding ability of the Company to secure new investment and financial relationships, business and operational partnerships and other activities that meet our commercialization, market and research and development investment strategies. For other factors that may cause our actual results to differ from those that are expected, see the information under the caption “Risk Factors” in the Company’s most recent Form 10-K and 10-Q filings, and amendments thereto, as well as other public filings with the SEC since such date. The Company operates in a rapidly changing and competitive environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statement.
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