GUELPH, ON--(Marketwire -07/11/12)- W2 Energy, Inc. (WTWO) is pleased to announce that it is in the final stages of completion for its recently acquired Bio-diesel plant.
As previously reported, W2 Energy recently purchased a fully operating turn-key bio-diesel plant from Agri-Green Biodiesel, Inc. The plant was successfully transported to the Company's 23,000 sq. ft. manufacturing facility in Guelph, Ontario last month and is now near completion. W2 Energy expects to have the plant fully functional and operating by August 01, 2012.
Current expectations are for the production of approximately 650,000 gallons of bio-diesel per year with this plant which at today's current market value should be worth close to $3 million in revenues. Future plans for the plant will include a retrofit modification of the plant in order to increase its production by up to 1.2 million gallons per year. By increasing the productions capabilities the Company expects to be able to double its revenue capabilities.
Also, as previously reported, the Company recently announced a Joint Venture Partnership in Europe with W2H Luxembourg Holdings, LLC which included the development and manufacturing of a demo plant for Dubai and a purchase order for several custom-made combustion engines.
The demo plant is fully designed and proceeding on schedule. The plant will be utilizing its new state of the art liquid plasma torch technology. Currently, parts are out for manufacture and expectations are to have this unit ready for testing later this month.
Additionally, W2's new combustion engine is now fully designed and simulated. Parts are currently out for manufacture and expectations are to have this unit manufactured by mid-August. W2 is extremely happy with the final design and believes that this engine will become a pivotal product for the Company and will be the first product to generate significant revenue.
On April 04, 2012 W2 Energy announced plans for a state of the art Fischer-Tropsch laboratory facility in Catonsville, Maryland. The Company is pleased to announce they are currently in the final stages of securing the lab in Maryland and have hired Dr. Teiseh as an employee of W2 Energy. Dr. Teiseh received his PhD in Engineering from Texas A&M. His experience in both engineering and renewable energy will provide the expertise W2 is looking for with this type of facility. Dr. Teiseh has spent the last two months in preparation for the manufacturing and testing of W2's FT catalyst once the laboratory is ready.
On March 15, 2012, W2 Energy announced plans to develop 2 acres of recently acquired land in order to construct greenhouses for W2's patented Algae Bio-Reactors. The Company is now in the final stages of submitting their environmental impact study and all required surveys in order to begin land clearing and leveling for the proposed greenhouse structures and the next generation algae bio-reactors.
Mike McLaren, President and CEO of W2 Energy, stated, "This is a very exciting time for W2 Energy and its employees. Everything we are currently working on has been a culmination of years of hard work and sacrifice. We are extremely confident that this quarter will be the first time we will have the ability to produce a revenue stream which will take us out of the research and development stage category and place us in the manufacturing and production industry."
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.