UMED Holdings, Inc. Announces Raise of $1,000,000 to Complete the Funding of the F. Conrad Greer Lab at The University of Texas at Arlington and Construct a Fully Operational Scaled Model Gas-to-Liquids (GTL)
Aug 19, 2016
OTC Disclosure News Service
– UMED Holdings, Inc. Announces Raise of $1,000,000 to Complete the Funding of the F. Conrad Greer Lab at The University of Texas at Arlington and Construct a Fully Operational Scaled Model Gas-to-Liquids (GTL)
FORT WORTH, TX–(Marketwired – Aug 19, 2016) – UMED Holdings, Inc. (OTCQB: UMED), through its wholly-owned subsidiary Greenway Innovative Energy, Inc. (GIE), using its patented and proprietary technological advancements, announces that it has raised $1,000,000 to complete the funding of the F. Conrad Greer Lab at The University of Texas at Arlington (“UTA”) and construct a fully operational scaled model of their Gas-to-Liquids (“GTL”) conversion unit in the lab at UTA. The working model, projected to be operational by the end of October 2016, will demonstrate the Company’s unique patented reforming design that will produce syngas, without the need for expensive steam methane reformers, for the Fisher Tropsch unit which will produce diesel and jet fuel. The working GTL model is being constructed so that it can easily be scaled up to the full 2,000 barrel per day unit.
Greenway will commercialize, market, and deploy these patented units for pipeline, stored natural gas facilities, and or stranded natural gas fields in the U.S. and Canada with a focus on producing high cetane rated synthetic fuels such as diesel and jet fuel.
Ray Wright, President of Greenway said, “We have advanced the construction of our first fully functional working model which will provide the Company with valuable data for the production of efficient full scale 2,000 barrels per day GTL Units. Greenway believes that its patented and proprietary modular, mobile and fixed technology can fulfill one of this country’s most important and immediate economic needs. With our full or small-scale units, we can capitalize on the abundant natural gas reserves in the U.S. and abroad. Producing our nation’s much needed diesel and jet fuel under groundbreaking ‘totally green’ conditions will establish a new standard for the oil and gas industry.”
“With this patented proprietary technology, Greenway has the opportunity to be the leader in this rapidly growing industry, creating significant value for our shareholders,” said Ransom Jones, President of UMED Holdings, Inc.
About Greenway Innovative Energy, Inc.
Greenway Innovative Energy, Inc., a wholly-owned subsidiary of UMED Holdings, Inc. (OTCQB: UMED), located in Fort Worth, TX is comprised of oil and gas professionals developing small and full scale Gas-to-Liquid (GTL) conversion units intended to take advantage of the abundant supply of natural gas resources throughout the world by way of improved and environmentally conscience technology. The advancement of this technology will enable natural gas producers to achieve stronger financial performance through conversion of natural gas to clean synthetic fuels. The conversion unit will be particularly useful in its application to stranded gas fields or stored gas facilities.
About UMED Holdings, Inc.
UMED Holdings, Inc., is a Fort Worth, Texas-based global diversified holding company that owns and operates businesses in a variety of industries including energy, oil and gas and mining. Visit http://umedholdings.com to learn more.
Forward Looking Statements
This document contains forward-looking statements and information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.
UMED Holdings, Inc.
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