Greenway Technologies, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2020
June 02, 2020 at 06:05 am EDT
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Greenway Technologies, Inc. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced operating loss was USD 287,955 compared to USD 570,328 a year ago. Net loss was USD 562,749 compared to USD 598,948 a year ago.
Greenway Technologies, Inc. is engaged in the research and development of gas-to-liquids (GTL) synthesis gas (syngas) conversion systems and micro- plants that can meet specific gas field production requirements. Its technology G-Reformer unit (G-Reformer), a component used to convert natural gas into Syngas, when combined with a Fischer-Tropsch (FT) reactor and catalyst, produces fuels including gasoline, diesel, jet fuel and methanol. Its G-Reformer units can be deployed to process a range of natural gas streams, including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane and/or biomass gas. Its technology also allows the extraction of high-value chemicals and alcohols, including n-Hexane, n-Heptane, n-Octane, n-Decane, n-Dodecane, n-Tridecane, ethanol and methanol. It also has approximately 1,440 acres of placer mining claims located on Bureau of Land Management (BLM) land in Mohave County, Arizona. Its wholly owned subsidiary is Greenway Innovative Energy, Inc.