FORT WORTH, TX--(Marketwired - Apr 7, 2016) - UMED Holdings, Inc. (
The small-scale version will confirm the company's unique proprietary front end design that will produce, without the need for expensive steam methane reformers, the syngas for the Fischer Tropsch unit that converts the syngas to diesel and jet fuel.
For the past five years, Greenway has been working with UTA, through sponsored research agreements, on pioneering portable, small-scale units that can convert natural gas to liquids, such as diesel fuel and jet fuel. The small-scale version is being constructed so that it can easily be scaled up to the full 2,000 barrels per day unit.
The gift to UTA, which is described at http://www.uta.edu/news/releases/2016/02/greenway-energy-gift.php. will allow Brian Dennis, professor in the Mechanical and Aerospace Engineering Department, and Fred MacDonnell, professor and chair of the Chemistry and Biochemistry Department, to exponentially increase fuel production through their innovative process.
The gift and expanded research focus in alternative fuels will help UTA fulfill its goals under the Strategic Plan 2020: Bold Solutions | Global Impact, especially under the guiding theme of creating a Global Environmental Impact.
"Greer, who recently retired as Greenway's chief executive officer, has been a longtime supporter of UTA, said Raymond Wright, Greenway's founder and current CEO. Wright said Greer is passionate about innovation in the development of alternative fuels and came up with the concept for Greenway as he watched U.S. natural gas exploration and production soar the past two decades."
"The explosion in the supply of natural gas in the U.S. opened the door to pursue the exploration of changing natural gas to liquid diesel and jet fuel with an innovative approach," Wright said, "The approach UTA has developed in conjunction with Greenway makes for the cleanest, most environmentally friendly method of converting supplies to ready-to-market fuel.
Greenway is pleased to support these world-class researchers as we know that their work will have a lasting, global impact."
Dennis and MacDonnell have perfected the gas-to-liquid technology in UTA's Center for Renewable Energy and Science Technology, or CREST Lab. The Conrad Greer Lab will be adjacent to the CREST lab in Science Hall.
"We have a system in use that produces the high-grade fuel, but the new lab will allow us to produce larger quantities," Dennis said, "It's a big step in the drive to show the scalability of the technology."
MacDonnell said, "The high-grade nature of the diesel fuel is important to energy companies that want to mix it with lower grade fuels that are plentiful."
"This high grade diesel would be sold to a refinery as an important blend feedstock," MacDonnell said. "It's a proven technology but is generally only practical at a huge scale. We are working to make it practical and affordable on the smaller scale that Greenway wants, to make the process more portable so they can target stranded gas resources that are otherwise difficult to develop."
UTA President Vistasp M. Karbhari said, "We are most appreciative for the foresight Greenway Innovative Energy has shown in its support for the critical work Dr. Dennis and Dr. MacDonnell are doing in the area of alternative fuels and allowing the U.S. to maximize its natural resources to ensure energy independence. The integration of University research and industry experience is a hallmark of enabling synergies to speed up innovation through impactful research."
Wright said that the UTA/Greenway technology "makes for a more affordable process of producing a pure high-blend diesel fuel at a low cost per barrel. The process also eliminates the need to flare natural gas into the atmosphere and converts it to diesel fuel at the production site."
About UMED Holdings, Inc.
UMED Holdings, Inc., is a Fort Worth, Texas-based global diversified holding company that has ownership in businesses in a variety of industries including energy, oil and gas, aerospace and mining. Visit http://umedholdings.com to learn more.
About The University of Texas at Arlington
The University of Texas at Arlington is a Carnegie "highest research activity" institution of more than 50,000 students in campus-based and online degree programs and is the second-largest institution in The University of Texas System. The Chronicle of Higher Education ranked UTA as one of the 20 fastest-growing public research universities in the nation in 2014. U.S. News & World Report ranks UTA fifth in the nation for undergraduate diversity. The University is a Hispanic-Serving Institution and is ranked as the top four-year college in Texas for veterans on Military Times' 2016 Best for Vets list.
Visit www.uta.edu. To learn more, and find UTA rankings and recognition.
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.