GWTI Stock Shifts from OTCQB to Pink Sheet Trading

Arlington, Texas, July 26, 2024 (GLOBE NEWSWIRE) -- Greenway Technologies Inc. (OTC: GWTI), commonly referred to as "Greenway,"  is a pioneering company that specializes in the development of advanced gas-to-liquids ("GTL") and gas-to-hydrogen ("GTH") technologies. The OTC Market's OTCQB has consistently traded the firm's shares, ensuring organized and effective stock trading.

However, according to Financial Industry Regulatory Authority ("FINRA") rules, Greenway's stock can no longer trade on the OTCQB due to the late filing of SEC filings for the 2023 Form 10-K and the Form 10-Q for the quarter ended March 31, 2024. Currently, pink sheet trading is their only option, but it poses another challenge because most brokers do not allow trades on this platform.

In response to this predicament, Greenway has now filed its overdue financial documents, specifically its Form 10-K for the fiscal year ending December 31st, 2023, with the SEC and anticipates filing its delayed first-quarter report next week. After submitting these forms to the SEC, Greenway needs to submit the Rule 15c2-11 Exemption Request Form to FINRA in order to regain trading eligibility at the OTCQB marketplace.

Through its fully owned subsidiary, Greenway Innovative Energy Inc., Greenway Technologies, based in Arlington, Texas, conducts research and development activities focused around GTL and GTH syngas conversion systems. These systems are capable of scaling up or down based on oil field production requirements or any other processes requiring natural gas availability.

The patented technology they developed has been integrated into their recently completed first-generation commercial G-Reformer unit, a unique device designed specifically for converting natural gas into synthesis gas, also known as "syngas." Syngas separates into hydrogen gas and CO when hydrogen creation is required.

When combined with an FT reactor and catalyst, the G-Reformer units can process various natural gas streams, including pipeline gas, associated gas, flared gas, vented gas, coal-bed methane, and biomass. Fuels such as gasoline, diesel, jet fuel, and methanol are the end products of these processes, along with valuable chemical outputs. The key advantage here is that the derived fuels are incrementally cleaner than conventionally produced oil-based fuels, providing a sustainable solution for energy needs.

This development places Greenway Technologies Inc. at the forefront of clean energy technology research and development. As they resolve their trading issues and continue to develop innovative solutions in GTL and GTH technologies, there remains immense potential for growth in this sector, which aligns perfectly with global efforts towards cleaner fuel sources.