Kent Harer Resigns from Board of Directors

Rhea-AI Summary

Greenway Technologies, Inc. (OTC: GWTI) has announced the resignation of Kent Harer from its Board of Directors. The company, based in Arlington, Texas, specializes in advanced gas-to-liquids (GTL) and gas-to-hydrogen (GTH) technology development. Greenway's subsidiary, Greenway Innovative Energy, Inc., is collaborating with The University of Texas at Arlington to research and develop proprietary GTL and GTH systems.

The company's patented technology is integrated into its G-Reformer® unit, which forms the core of systems capable of producing hydrogen or liquid fuels, including diesel fuel blend stock and various hydrocarbon chemicals or methanol. These systems offer solutions for stranded gas conversion and on-site hydrogen production, addressing logistical challenges and providing efficient, carbon emission-free alternatives to traditional methods.

Positive

• Ongoing collaboration with The University of Texas at Arlington for GTL and GTH technology development
• Patented G-Reformer® technology capable of producing hydrogen and liquid fuels
• Solutions for stranded gas conversion and on-site hydrogen production
• Efficient and carbon emission-free alternatives to traditional fuel production methods

Negative

• Resignation of Kent Harer from the Board of Directors
• Operating in the volatile OTC market (OTC: GWTI)

ARLINGTON, Texas, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTC: GWTI), (“Greenway”), an advanced gas-to-liquids (“GTL”) and gas-to-hydrogen (“GTH”) technology development company, announces the resignation of Kent Harer from the Board of Directors.

Based in Arlington, Texas, the Company, through its wholly-owned subsidiary, Greenway Innovative Energy, Inc., is researching and developing proprietary GTL and GTH systems in association with The University of Texas at Arlington. These relatively small systems can be scaled to meet the natural gas supply wherever it is available. The Company’s patented technology has been integrated into its patented commercial G-Reformer^® unit. This unit is the core of a system that can be used to make hydrogen (GTH) or, when combined with a Fischer-Tropsch unit, liquid fuels (GTL), including diesel fuel blend stock, with an associated variety of valuable long-chain hydrocarbon chemicals or methanol. In addition to a robust return on investment, the systems solve a critical problem by enabling conventional transportation of the liquid offtake or by creating hydrogen at the point of consumption. More specifically, GTL can convert stranded gas to a liquid that can be transported by conventional logistical methods, eliminating the need for a pipeline where none exists. For GTH, the hydrogen can be created at the point of use, removing the costly need to compress and transport centrally created hydrogen. Finally, the unit does this in either case with unequaled efficiency and no airborne carbon emissions.

Notice Regarding Forward-Looking Statements:

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ongoing effects of the pandemic on delays and orders regarding Greenway's proprietary gas-to-liquids system, potential business developments and future interest in our clean fuel technologies.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic and political conditions, the continuation of the JV with t

The University of Texas at Arlington, and the ongoing impact of the pandemic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

CONTACT:
Raymond Wright
Greenway Technologies, Inc.
raymond.wright@gwtechinc.com

For more information, visit GWTI's website: www.gwtechinc.com

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FAQ

What is the main announcement in Greenway Technologies' (GWTI) recent press release?

The main announcement is the resignation of Kent Harer from Greenway Technologies' (GWTI) Board of Directors.

What are the primary technologies Greenway Technologies (GWTI) is developing?

Greenway Technologies (GWTI) is developing advanced gas-to-liquids (GTL) and gas-to-hydrogen (GTH) technologies.

What is the key product of Greenway Technologies (GWTI)?

The key product of Greenway Technologies (GWTI) is the patented G-Reformer® unit, which is the core of their GTL and GTH systems.

What are the main advantages of Greenway Technologies' (GWTI) GTL and GTH systems?

The main advantages include converting stranded gas to transportable liquids, on-site hydrogen production, high efficiency, and no airborne carbon emissions.