Greenway Technologies Enters Non-Binding Letter of Intent with GME Hydro, LP

On December 16, 2024, Greenway Technologies, Inc. (OTCMKTS:GWTI) disclosed the signing of a non-binding Letter of Intent (LOI) with GME Hydro, LP (GME), marking a significant move for the company in the gas-to-hydrogen technology sector. The agreement entails GME’s proposed acquisition of two patented GWTI H-Reformer™ units, designed for converting natural gas to hydrogen for use in electrical generation. As part of the LOI, GME has committed to invest in Greenway by purchasing restricted stock.

The two H-Reformer™ units at Greenway will have the capacity to produce up to 20,000 KG of hydrogen daily to fuel reciprocating generators, providing adequate power generation capabilities of up to 10 MW. These units offer scalability to meet various hydrogen production needs by adjusting production configurations or through the stacking of multiple units.

The installation and operation of the H-Reformer™ units will take place at GME’s Johnstown, PA facility, utilizing both fossil and renewable natural gas sources. By incorporating 25% renewable natural gas into the process, the project is anticipated to be eligible for Federal Clean Air H2 Credits.

Kevin Jones, President of GWTI, emphasized Greenway’s decade-long dedication to developing innovative and environmentally friendly gas-to-hydrogen solutions. The collaboration with GME underscores a practical approach to hydrogen production, aiming to address challenges associated with transportation, cost, and infrastructure limitations. Jones highlighted the potential for widespread hydrogen utilization across various sectors, including power generation and transportation.

Moreover, post the initial LOI, GME and GWTI have explored further applications of GWTI’s technology, including converting methane from waste dumps into hydrogen for additional power generation and creating methanol using Greenway’s G-Reformer™ technology. The focus remains on developing low-carbon emitting processes in line with global sustainability goals.

Greenway Technologies, Inc., headquartered in Arlington, Texas, and its subsidiary, Greenway Innovative Energy, Inc., specialize in GTL and GTH syngas conversion systems tailored for diverse energy production requirements. Their innovative technologies aim to create cleaner, more sustainable fuel solutions, aligning with evolving environmental standards.

While this partnership holds promise for advancing clean energy solutions, Greenway continues to drive its R&D efforts and strategic alliances in the transition to a greener energy landscape. Investors keen on tracking the company’s progress can access Greenway Technologies’ SEC filings at gwtechinc.com/SEC-filings/.

The evolving landscape of clean energy technology underscores the importance of strategic collaborations and innovation in driving sustainable solutions for the future.

This news release may contain forward-looking statements, subject to economic, political, and technological factors that may impact actual outcomes. Investors are encouraged to stay informed and consult Greenway Technologies’ official resources for timely updates and insights.

This article does not contain the actual views or predictions of MarketBeat but conveys the content of the 8-K SEC Filing for Greenway Technologies, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Greenway Technologies’s 8K filing here.

Greenway Technologies Company Profile

Greenway Technologies, Inc, through its subsidiary, Greenway Innovative Energy, Inc, engages in the research, development, and commercialization of gas-to-liquids syngas conversion systems to meet individual natural gas field/resource requirements. The company offers G-Reformer units to process various natural gas streams, including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and/or biomass gas.