Greenway Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 15, 2021 at 04:28 pm
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Greenway Technologies, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported net loss was USD 0.474645 million compared to USD 0.903545 million a year ago.
For the nine months, net loss was USD 1.41 million compared to USD 1.82 million 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.