GUELPH, ON--(Marketwire -05/07/12)- W2 Energy, Inc. (WTWO.PK - News) is pleased to announce that it has initiated its agreement with its joint venture partner WH2 of Luxembourg for the manufacturing, sales and distribution of W2 Energy's line of products. The value of the agreement is placed at $4,000,000.
An initial purchase order for $300,000 as Phase I of the purchase program has been received by W2 Energy. The order calls for the manufacturing of 5 combustion powered rotary engines that will convert several palm oil power plants in Germany. Future purchase orders will include the development of a 10 ton per day demo power plant which will convert bio-fuels into electricity utilizing W2 Energy's NT Plasmatron and Rotary Combustion Engine.
As previously reported, W2 Energy signed a Joint Venture Partnership with WH2 Luxembourg Holdings SA. The partnership calls for the marketing and joint development of W2's patented product lines throughout the European Union (EU) and Africa. Recently, both parties have agreed to amend the Agreement to include the Middle East and GCC. Specific products will include W2 Energy's NT Plasmatron, Grinder, SteamRay Engine, Multi-fuel Gas to Liquid Reactor, NT Plasmsatron Fuel (Bio oil/water/coal ignite) and The SunFilter Algae Bio Reactor.
Mike McLaren, W2 Energy President and CEO, stated. "This is a very exciting time for us at W2 Energy. It has taken several years for us to develop this relationship and get it to the point of where we can actually start manufacturing our product and have it successfully distributed throughout Europe." He also stated, "We now anticipate the ability to show consistent revenue streams as the various phases of the purchase orders are placed by WH2 in Europe."
About W2 Energy:
W2 Energy Inc. develops renewable energy technologies and applies it to new generation power systems. Specifically, W2 Energy's plasma assisted biomass to energy plants utilize state of the art technologies to produce green energy both fuel (sulfur free diesel) and electricity at the most efficient cost in capital investment and production per/barrel, per/Megawatt. W2 Energy Inc. has seasoned management, cutting edge technology and owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
For more information on W2 Energy please see: www.w2energy.com
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of W2 Energy, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond W2 Energy, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in W2 Energy, Inc.'s filings with the Securities and Exchange Commission.