Greenway Technologies, Inc., is an advanced gas-to-liquids (“GTL”) and gas-to-hydrogen (“GTH”) technology development company. On October 13, 2023, GME Hydro LP (“GME”) and Greenway signed a non-binding letter of intent under which GME would purchase two patented GWTI H-Reformer™ units (“H-Reformers™”). The H-Reformers would be used to convert natural gas (CH4) to hydrogen (H2) for use in electrical power generation. In conjunction with the execution of the agreement, GME committed to make an investment in GWTI via the purchase of restricted stock. Since that time, GME and Greenway (the Parties”) have worked together to develop a definitive agreement to effectuate the terms of the October 13, 2023 LOI. To reaffirm the commitment of the Parties, a new LOI dated December 12, 2024, was executed.
Greenway’s two H-Reformer™ units will be configured to produce a daily total of up to 20,000 KG of hydrogen that will fuel reciprocating generators, which are components of a larger power generation system, in quantities sufficient to generate 10 MW of electricity.
Greenway’s H-Reformer™ units are scalable to meet small and large hydrogen production specifications by adjusting the unit output production configuration or by “stacking” multiple units.
GME will purchase, install, and operate the two H-Reformer™ units at its Johnstown, PA facility, (or at a site to be determined) where the locations would have access to on-site fossil and renewable natural gas. By combining incoming fossil natural gas with 25% renewable natural gas, the project should be eligible for Federal Clean Air H2Credits.
GME will fully optimize Greenway’s proprietary technology to achieve its goal of a low-cost, on-site clean hydrogen production solution with very low atmospheric carbon, as H-Reformer™ units are compatible with processes that separate carbon from its only hydrogen production bi-product, CO2. The valuable liquified carbon will be sold to provide additional revenue and offset operating costs.
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Describe more in press release https://t.ly/JOmIT
