Greenway Technologies Inc., an advanced gas-to-liquids (GTL) technology development company, on Aug. 29 announced that it has entered into a joint venture with Mabert LLC, Tom Phillips, vice president of operations and chief engineer for the company and OPM Green Energy LLC (OPMGE) for an ownership interest in the recently acquired Infra Technologies U.S. GTL plant located in Wharton, Texas.
As previously announced, Mabert, owned and controlled by company director, Kevin Jones, originally purchased INFRA’s entire 5.2-acre site, plant and equipment, including INFRA’s proprietary Fischer-Tropsch (F-T) reactor system and operating license agreement (the INFRA Assets). The parties formed OPMGE to facilitate the creation of this joint venture, with Jones acting as OPMGE’s Member Manager.
OPMGE issued 700 units of its membership interests to initial members, Greenway, Mabert and Phillips. Of these, OPMGE issued: (i) 300 Units to Mabert, in exchange for rights to the INFRA Assets, which will be used as the field testing and certification site for the Company’s G-Reformer™ technology; (ii) 300 Units to the company for use of the first G-Reformer reactor and license to use the associated technology; and (iii) 100 Units to Phillips in consideration for the services he will be providing to OPMGE.
As consideration for its 300 Units, the company has provided a limited, non-exclusive, royalty-free license to its intellectual property, including all of the technology related to the company’s patent-pending G-Reformer natural gas reforming technology, including a G-Reformer unit, which will be integrated into the Wharton plant’s existing FT unit and production infrastructure. The company’s involvement in the joint venture is intended to facilitate the third-party certification of the company’s G-Reformer technology, related equipment and technology. In addition, the company anticipates that the joint venture will demonstrate that the G-Reformer™ is a commercially viable technology for producing syngas and marketable fuel products. As the first operating GTL plant to use the company’s proprietary reforming technology and equipment, the Wharton facility is initially expected to yield a minimum of 75 - 100 barrels per day of gasoline and diesel fuels from converted natural gas. Phillips, along with other company operations personnel and vendor partners will be responsible for integrating the company’s G-Reformer technology into the existing INFRA Assets and FT system.
“Greenway’s participation and ownership in this GTL production facility provides a direct path to gaining our engineering certifications, a necessary step for future G-Reformer™ licensing and sales,” said chairman of the board Ray Wright. “While becoming a showplace for our GTL technology, we also expect that this facility will pay for itself by producing a sustainable amount of saleable, waxless liquid fuels.”
Jones added, “I’m elated that we have this opportunity to integrate our ground-breaking technology with a proven FT reactor. Having this commercial-scale production facility creates an unparalleled opportunity for us to prove the economic viability of our unique GTL technology.”
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