Greenway Technologies

What Greenway Technologies does

Greenway Technologies, Inc. (GWTI) is a Texas-incorporated, publicly traded (OTC: GWTI) energy technology development company founded in 2009 and headquartered in Arlington, Texas. The company was originally organized as UMED Holdings, Inc. and rebranded to Greenway Technologies around January 2018. GWTI develops and commercializes modular gas-to-liquids (GTL) and gas-to-hydrogen (GTH) conversion systems built around its patented Fractional Thermal Oxidation (FTO) process, co-developed with the University of Texas at Arlington through a long-standing Sponsored Research Agreement and a Comprehensive IP License Agreement completed in April 2020. The core platform is the G-Reformer®, a medium-sized vessel that converts natural gas into synthesis gas (syngas) at a 2:1 hydrogen-to-carbon monoxide ratio via an exothermic reaction that eliminates the need for external carbon-emitting heating.

GWTI's product portfolio spans three configurations built on the same syngas platform: the G-Reformer® for gas-to-liquids (G65 at 65 bbl/day and G125 at 125 bbl/day, producing high-cetane diesel blend stock, jet fuel, and tech-grade water via Fischer-Tropsch synthesis with proprietary catalysts); the H-Reformer® for on-site hydrogen production (H30 at 30,000 kg/day and H90 at 90,000 kg/day, with integrated CO2 separation producing "blue" hydrogen); and the M-Reformer® for containerized methanol production suited to remote deployment. Monetization occurs through multiple channels: build-own-operate revenue-sharing partnerships, customer own-operate models with subscription services, technology licensing with milestone and royalty payments, plant/system sales, and EPC advisory services through partner Audubon Companies. Per-unit illustrative economics range from $40-50M capex (G65) to $145-165M capex (H90), with projected 5-year ROIs of 22-90% depending on configuration.

The company is transitioning from pre-revenue R&D to commercialization. Disclosed commercial signals include a non-binding $16 million term sheet with Swift Creek, LLC (announced December 2025) for the purchase of a patented GTL/GTH production unit and a non-binding Letter of Intent with Plymouth GC, LLC (signed May 2026) for licensing of GTL and GTH technologies with recurring revenue share. Target end markets are oil and gas operators with stranded or flared gas, industrial power generation facilities, remote/off-grid communities, tribal energy projects, and mining operations with coalbed methane or associated gas. Headcount is reported at 1-10 employees, and the company has not disclosed revenue.

Name

Greenway Technologies

Legal name

Greenway Technologies, Inc.

Website

https://gwtechinc.com

Company type

Public

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Greenway Technologies develops proprietary gas-to-liquids and gas-to-hydrogen conversion systems based on its patented Fractional Thermal Oxidation process, targeting monetization of stranded natural gas for oil and gas operators, industrial power generators, and remote communities.

Ownership category

akta.pro rank

Product category

Gas-to-Liquids Technology Systems

NAICS

Petrochemical Manufacturing (32511), Industrial Gas Manufacturing (325120), Basic Chemical Manufacturing (3251)

SIC

Industrial Organic Chemicals (2860), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Hydrogen Production Supply & Offtake (Green/Blue H2) for Utility Blending (EUAJAJAF)

akta.pro secondary industries

Green Methanol & E‑Alcohols (e‑methanol, ethanol, higher alcohols) (EUABAIAB), Gas Conditioning & Treatment for Industrial Use (Dehydration, Sweetening, NGL Removal) (EUALALAG)

Keywords

• Gas-to-liquids technology
• Natural gas conversion
• Syngas production systems
• Stranded gas monetization
• Hydrogen production systems

Headquarters

HQ city

Arlington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Revenue Sharing - Partnership Build-Own-Operate: GWTI builds and operates plants while the customer provides investment capital. Both parties share in off-take revenue. GWTI handles EPC completion, equipment installation, commissioning, and operations management.
2. Customer Own-Operate Model: Customer owns and operates plants while GWTI builds the facility and provides subscription services including training, remote support, and operational consultation on enhancements and upgrades.
3. Technology Licensing: Licensing agreements for multi-site development with milestone and recurring royalty payments. Customer builds and operates plants while GWTI provides technical and operational advice, acts as liaison with UTA, and offers subscription services.
4. Recurring Revenue Share from Hydrocarbon Production: Under the Plymouth GC licensing agreement, GWTI receives recurring revenue share from hydrocarbon production based on its GTL and GTH technology licenses.
5. Plant Sales: Sale of patented gas-to-liquid and gas-to-hydrogen production units. Term sheet with Swift Creek for $16 million purchase of systems.
6. Technical Consulting Services: Engineering, procurement, and construction advisory services through EPC partner Audubon Companies. Ongoing technical support and operational consultation.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Greenway Technologies develops and commercializes modular gas-to-liquids (GTL), gas-to-hydrogen (GTH), and gas-to-methanol (GTM) conversion systems based on its patented Fractional Thermal Oxidation (FTO) technology. The company's flagship G-Reformer platform converts natural gas into synthesis gas (syngas), which is then processed through Fischer-Tropsch units into liquid hydrocarbons, hydrogen, or methanol. Greenway offers complete plant solutions (GTL, GTH, GTM) along with flexible engagement models including build-own-operate partnerships, customer-owned operations, and technology licensing.

Product overview

Greenway Technologies (GWTI) offers a modular, scalable energy conversion platform centered on its patented G-Reformer® technology. The core G-Reformer® converts natural gas into synthesis gas (SYNGAS), which serves as the foundation for three specialized product lines: the H-Reformer® for hydrogen production (GTH plants), the M-Reformer® for methanol production (GTM plants), and the standard G-Reformer® for liquids production (GTL plants). The company provides turnkey plant solutions with multiple go-to-market models including build-own-operate revenue sharing, customer-owned operations with subscription services, and technology licensing. The platform targets monetization of stranded natural gas through on-site conversion to valuable hydrogen, liquid fuels, and methanol with near-zero carbon emissions.

Differentiator

Problem solved

Functional benefit

Products and services

• G-Reformer Flagship syngas conversion system that converts natural gas into synthesis gas (SYNGAS). Available in G65 model (65 barrels/day) and G125 model (125 barrels/day). Serves as the foundation for all three applications (GTL, GTH, GTM). Targeted at oil and gas operators with stranded natural gas assets.
• H-Reformer

Quantifiable outcome

• Converts 70% of stranded natural gas to value
• +4 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Plymouth GC, LLCcoreOEM/ Whitelabel/ Licensing Partner · 15 May 2026Non-binding Letter of Intent signed May 15, 2026 for licensing of Greenway's GTL and GTH technologies. Plymouth would license the technology with GWTI receiving recurring revenue share from hydrocarbon production. Agreement subject to definitive agreements, board approval, and closing conditions. Negotiations expected to conclude by Q3 2026. This represents GWTI's shift toward technology licensing model.
• Swift Creek, LLCcoreTechnology or Integration · 12 December 2025Non-binding term sheet for $16 million purchase of patented gas-to-liquid and gas-to-hydrogen production unit. Deal aims to commercialize natural gas conversion technologies producing liquid hydrocarbons, synthetic diesel, jet fuel, and sustainable aviation fuel. Focus on applications in Indian country. Negotiations to finalize by early 2026.
• INFRA TechnologyminorStrategic or Co-development Partner · 7 March 2018August 2018 agreement between INFRA and Greenway for collaboration in gas-to-liquids sector. Historical partnership from 2018.
• Audubon CompaniescoreImplementation/ SI/ Consulting Partner · 6 February 2018Houston-based EPC (Engineering, Procurement, and Construction) firm engaged since 2018 for plant design and construction. Advising on G-Reformer and associated technologies. Well-versed in energy projects and GTL plants. Handling specialized shipping container designs for remote implementations. Will serve as GWTI's choice for constructing and designing commercial plants.
• University of Texas at Arlington (UTA)coreStrategic or Co-development Partner · 1 January 2009Long-standing R&D partnership since 2009 involving Sponsored Research Agreement with UTA Chemistry and Mechanical Engineering departments. GWTI's founding partnership that led to G-Reformer development. Results in multiple US patents and the Conrad Greer Gas-to-Liquid Lab. GWTI retains sponsorship for ongoing innovation and patent development.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• CompactGTL: UK-based GTL technology developer with proprietary small-scale Fischer-Tropsch reactor systems targeting flare gas and stranded gas monetization. Closest direct competitor to GWTI on the 'field-deployable GTL' value proposition and customer segment.
• INFRA Technology: Listed GWTI collaboration partner since 2018 in gas-to-liquids, with overlapping stranded-gas-to-liquids interests making it both a peer and a potential channel partner in the GTL space.
• SunGas Renewables: US developer of biomass and natural gas-to-syngas conversion platforms for renewable fuels and chemicals production. Comparable to GWTI's G-Reformer syngas foundation and Fischer-Tropsch downstream integration model.
• Greyrock Energy: Small-scale GTL technology provider using proprietary direct Fischer-Tropsch conversion to monetize flare and stranded gas into diesel. Direct competitor to GWTI's modular GTL plant economics for oil & gas operators.
• Velocys: UK/US-listed GTL technology company developing small-scale Fischer-Tropsch plants converting natural gas and biomass to liquid fuels. Directly comparable to GWTI's G-Reformer/GTL plant offering on technology, target customers (stranded gas operators), and modular scale economics.

Emerging players

• Nel ASA: Public hydrogen technology company producing electrolyzers and hydrogen fueling infrastructure. Competes with GWTI's H-Reformer from the green-hydrogen side of the on-site industrial hydrogen production market.
• Caphenia: German developer of gas-to-liquid e-fuels using proprietary reverse water-gas shift + Fischer-Tropsch technology for synthetic diesel and sustainable aviation fuel. Comparable to GWTI on modular GTL design philosophy and decarbonization value proposition.

Broad incumbents

• Air Products: Global industrial gas major with large-scale SMR hydrogen production, CCS projects (blue hydrogen), and gasification technology. Represents incumbent competitive alternative to GWTI's H-Reformer for industrial hydrogen customers.
• Topsoe: Global industrial-scale catalysis and process technology licensor providing syngas, hydrogen, and e-fuels solutions (including SOEC electrolyzers and HydroFlex e-fuels). Competes with GWTI on hydrogen and methanol production routes, though at larger refinery scale.
• Shell GTL (Pearl): Operates large-scale commercial GTL plants (e.g., Pearl GTL in Qatar) producing liquid fuels from natural gas. The canonical incumbent whose multi-billion-dollar fixed plants contrast with GWTI's modular field-deployable positioning.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greenway Technologies