Greenway Technologies, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2021
August 16, 2021 at 04:11 pm EDT
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Greenway Technologies, Inc. announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced operating loss was USD 325,731 compared to USD 290,547 a year ago. Net loss was USD 473,628 compared to USD 353,434 a year ago. For the half year, operating loss was USD 646,099 compared to USD 578,502 a year ago. Net loss was USD 938,234 compared to USD 916,184 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.