Image credit: US Department Of Energy, National Renewable Energy Lab, Wikimedia CommonsFORT WORTH, Texas, May 6, 2014 (GLOBE NEWSWIRE) -- Greenway Innovative Energy, Inc. (GIE), provider of proprietary, mobile Gas-to-Liquids (GTL) technology, has entered into a Sponsored Research Agreement (SRA) with the University of Texas at Arlington to further refine and enhance its cutting-edge technology which converts natural gas to clean synthetic fuels.
The purpose of the Research Agreement with the University is to continually improve the existing Fisher-Tropsch synthesis process for the conversion of natural gas into liquid hydrocarbons, or synthetic fuels. Greenway, a wholly-owned subsidiary of UMED Holdings, Inc.(OTCQB:UMED), and the University of Texas at Arlington have been collaborating on Greenway's small-scale, mobile, and portable, Gas-To-Liquid (GTL) conversion units that can be located next to various existing sources of natural gas. These units can produce synthetic fuel(s) such as synthetic diesel fuel or jet fuel.
Each conversion unit will produce up to 2,000 barrels of sulfur-free, clean burning synthetic fuel per day. The units will require no major change in existing infrastructure and provide up to 10 professional jobs per unit.
"We are confident that our relationship with the University will greatly enhance and effect the continual development of our industry changing technology," said Greenway President, Ray Wright.