FORT WORTH, Texas, March 26, 2014 (GLOBE NEWSWIRE) -- UMED Holdings, Inc. (OTCQB:UMED), through its wholly-owned subsidiary Greenway Innovative Energy, Inc. (GIE) has announced that the United States Patent and Trademark Office has issued US Patent 8,574,501 covering its mobile Gas-to-Liquids ("GTL") conversion unit for the purpose of converting natural gas to clean synthetic fuels.
Greenway will commercialize, market, and deploy these patented units for pipeline, stored natural gas facilities, and stranded natural gas fields in the U.S. and Canada with a focus on producing synthetic fuels (liquid fuels derived from natural gas or synfuels) such as diesel oil and jet fuel.
The mobile Conversion Units will encompass several proprietary technological advancements which incorporate progressive developments in engineering, manufacturing, design fabrication, and tooling. Each unit will enable an efficient F-T synthesis gas conversion to a liquid hydrocarbon (synthetic fuel) on the surface of a heterogeneous catalyst confined to very small spaces. Because the unit is a platform for a highly exothermic chemical reaction with uniform and consistent catalytic contact, it will be relatively inexpensive to operate, dependable, long lived, and highly autonomous, requiring minimal oversight. Due to their unique mobility, the Conversion Units will offer tremendous flexibility in placement options and significantly lower operating costs while creating high returns on invested capital.
Ray Wright, President of Greenway said, "We are extremely excited to have developed a technology that can fulfill one of this country's most important and immediate economic needs. With our small-scale, truly mobile units, we can capitalize on the abundant natural gas reserves in the U.S. and abroad. Producing our nations much needed diesel and jet fuel under ground breaking 'green' conditions will establish a new standard."
"With our patented technology, Greenway has a tremendous opportunity to be the leader in this rapidly growing industry, creating significant value for our shareholders," said Kevin Bentley, CEO of UMED Holdings.
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, aerospace, food and beverage, and mining. Visit http://umedholdings.com to learn more.
About Greenway Innovative Energy, Inc.
Greenway Innovative Energy, Inc., located in Fort Worth, TX is comprised of oil and gas professionals developing mobile, small-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. Visit http://greenwaygtl.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.
CONTACT: UMED Holdings, Inc. Contact Investor Relations 817-346-6900Source:UMED Holdings