Greenway Technologies Announces Letter of Intent with Plymouth GC
Rhea-AI Summary
Greenway Technologies (OTCQB:GWTI) signed a non-binding Letter of Intent on May 15, 2026 with Plymouth GC to license its gas-to-liquids (GTL) and gas-to-hydrogen (GTH) solutions. Greenway would receive recurring revenue share from liquids production, subject to definitive agreements expected to be negotiated by Q3 2026.
Leadership highlights a planned shift from pre-revenue R&D toward commercialization and expanded offerings including technology licensing, revenue share, owner-operator and technical consulting models.
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News Market Reaction – GWTI
In the May 29 session, GWTI gained 3.64%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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ARLINGTON, TX, May 29, 2026 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI) (“Greenway”), an advanced gas-to-liquids (“GTL”) and gas-to-hydrogen (“GTH”) technology development company, announced that on May 15, 2026, it signed a Letter of Intent (“LOI”) with Plymouth GC, LLC (“Plymouth”), a company focused on deploying innovative energy solutions in the US.
The LOI sets forth certain terms regarding the parties’ desire to have Plymouth license Greenway solutions for GTL and GTH technologies with Greenway receiving a recurring revenue share from the production of liquid hydrocarbons and other liquids. The LOI is non-binding with respect to any proposed transaction and remains subject to execution of definitive agreements, Greenway board approval and certain other closing conditions. Greenway expects to negotiate the definitive agreement with Plymouth by the third quarter of 2026.
In a statement, Doug Cogan, Chief Executive Officer of Greenway, said, “Greenway has been working diligently on research and development for over 10 years to develop and patent processes and procedures to perfect innovative and clean GTL and GTH solutions. Because natural gas is cost-effective and available across the globe, we believe the winning GTL solution is the one that can produce valuable liquids and hydrocarbons on site without carbon generation into the atmosphere. We are excited for our shareholders as we shift our focus from pre-revenue research and development to commercialization with Plymouth and other potential investors.”
Susanne Smithers, Executive Vice President of Plymouth, stated, “Over the past 6 months, I've gained tremendous confidence in the new leadership at Greenway along with its commitment to innovation, research and development and strategic relationships. Our proposed commercial arrangement underscores our shared vision for forward-looking solutions and strong organizational leadership to drive the G-Reformer® technology into the energy markets. We believe this technology will fundamentally change the way we think about natural gas going forward.”
Mr. Cogan added, “Greenway recently expanded its business offerings to include technology licensing, in addition to our revenue share, owner-operator, and technical consulting services. We are pleased to offer investors and strategic partners multiple pathways to participate in project development and commercialization. These offerings are designed to be flexible and can be tailored to align with an investor’s operating experience, investment objectives and desired return profile.”
About Greenway Technologies, Inc.
Based in Arlington, Texas, Greenway, through its wholly owned subsidiary, Greenway Innovative Energy, Inc., is engaged in the research and development of proprietary GTL and GTH syngas conversion systems that can be scaled to meet oil and gas field production requirements, or the requirements of various processes where natural gas is produced or available. Greenway’s patented technology can been integrated into its G-Reformer® unit, a unique component used to convert natural gas into synthesis gas (a mixture of hydrogen and carbon monoxide). In the case of hydrogen creation, an additional new technology, the H-Reformer®, has been developed which creates synthesis gas consisting of hydrogen gas and carbon dioxide. When combined with an FT reactor and catalyst, G-Reformer® units are expected to be deployed to process a variety of natural gas streams, including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and biomass to produce fuels including gasoline, diesel, jet fuel, and methanol as well as valuable chemical outputs. When derived from natural gas, these fuels are also expected to be incrementally cleaner than conventionally produced oil-based fuels.
Notice Regarding Forward-Looking Statements:
This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, are forward-looking statements. These statements are only current predictions or expectations, and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements, including those discussed under the heading “Risk Factors” in Greenway's most recent Annual Report on Form 10-K, and in subsequent filings with, or submissions to, the Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov. Except as otherwise required by law, Greenway disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date they were made, whether as a result of new information, future events or circumstances or otherwise.
Contact:
Doug Cogan, Chief Executive Officer of Greenway Technologies, Inc.
Investors & Analysts Contact:
Greenway Investor Relations
ir@gwtechinc.com
SEC filings can be found at:
https://gwtechinc.com/SEC-filings
For more information, visit GWTI's website: www.gwtechinc.com
