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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

GWTI Notified of GTL Patent Allowance

January 5, 2021 GMT

ARLINGTON, Texas, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Greenway Technologies, Inc. (OTCQB: GWTI), an advanced gas-to-liquids (GTL) technology development company, today announced receipt of a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for another of its United States utility patent applications relating to its GTL fuel conversion technology. Hunter Adams, of “AdamsIP”, Greenway’s patent attorney stated that, “a Notice of Allowance refers to an application for which a USPTO examiner has determined that all pending claims meet conditions for patentability. The allowed patent complements GWTI’s existing patent portfolio,” he added.

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The company’s Fractional Thermal Oxidation™ GTL technology generates incrementally cleaner liquid fuels as well as high-value chemicals and alcohols. The high purity chemical outputs include n-Hexane, n-Heptane, n-Octane, n-Decane, n-Dodecane, and n-Tridecane. In addition, alcohols produced include ethanol and methanol. The system also produces pure laboratory grade water.

The company plans further additions to its patent portfolio as it begins commercial deployment of its unique technology to address industrial and governmental carbon emission reduction requirements.

The company’s technology, developed through a joint venture with the University of Texas Arlington (UTA), has broad GTL applications including reducing flared and vented gas pollution, processing bio-fuels, coal-bed methane, associated gas, and other gas sources into incrementally cleaner fuels and chemicals. The company was founded to create fuels with a reduced carbon footprint that will represent green sources of energy developed from natural gases.

About Greenway Technologies, Inc.

Based in Arlington, Texas, the company, through its wholly-owned subsidiary, Greenway Innovative Energy, Inc., is engaged in the research and development of proprietary GTL syngas conversion systems that can be scaled to meet oil and gas field production requirements. The company’s patented technology has been integrated into its recently completed first-generation commercial G-Reformer® unit, a unique component used to convert natural gas into synthesis gas. When combined with a FT reactor and catalyst, G-Reformer® units can be deployed to process a variety of natural gas streams including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and biomass to produce fuels including gasoline, diesel, jet fuel, and methanol as well as valuable chemical outputs. When derived from natural gas, these fuels are incrementally cleaner than conventionally produced oil-based fuels.

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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 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:

Kent Harer, President
Greenway Technologies, Inc.
(800) 289-2515

Investors & Analysts Contact:
Greenway Investor Relations
(800) 289-2515
ir@gwtechinc.com
SEC filings can be found at:
http://gwtechinc.com/SEC-filings/

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

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