GUELPH, ON--(Marketwire -06/21/12)- W2 Energy, Inc. (WTWO) is pleased to announce the immediate development of a Coal/Waste to Liquid (CTL) prototype plant capable of producing 10 ton/day coal/waste synthetic fuel production in Selebi-Phikwe.
W2 Energy estimates the cost of manufacturing the CTL plant at $5 million. Fuel production for the 10 ton/day plant is estimated at 1,000 gallons per day. However, after the utilization of EGM's Enhanced Fuel Refinery System those estimates are expected to reach 7,571 litres or 2,000 gallons per day.
Recent diesel fuel prices in Botswana are .97 cents (USD) per litre or $3.68 (USD) per gallon. At a production level of 7,571 litres or 2,000 gallons of biodiesel per day, estimates see revenues producing approximately $2,686,000 (USD) per year. Those estimates are for fuel production only and do not take into consideration any power produced by the plant.
BCL which is 93% government owned has already committed to sign a Power/Fuel Purchase Agreement for all power and fuel produced by the plant.
Update on Agri-Green Biodiesel Plant:
As previously reported, on May 02, 2012, W2 Energy purchased Agri-Green Biodiesel, Inc. of Fernie, British Columbia. The Biodiesel plant has been shipped to W2 Energy's corporate facilities and is in the final stages of completion. The company estimates having the plant fully operational within the next 30 days.
Biodiesel prices have been ranging from $4.25 to $5.50 a gallon over the last six months. Current prices have been consistently running at approximately $4.50 a gallon. W2 Energy's new biodiesel plant processor is capable of consistently producing 657,894 US gallons or 2,490,399 litres of biodiesel per year. At today's current price, the company estimates an approximate revenue base of $2,960,523 (USD) from the production and sales of biodiesel. However, future plans are to retrofit the processing plant in order to increase production to 1.2 million gallons or 4,980,798 litres by next year.
Mike McLaren, President and CEO of W2 Energy, stated, "Several years of research and development combined with years of strategic negotiations with various JV partners have created the ability for W2 Energy to become an international manufacturer and marketer of its patent pending products." He also stated, "With biodiesel becoming one of the main renewable fuels used worldwide by commercial and government fuel consumers, we have seen biodiesel production triple over the last 12 months. This places us in a unique position where the demand for biofuel continues to exceed the supply. Our technology will help meet those demands as we anticipate consumption increases."
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
For more information on EGM World LLC please see:
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.
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