|By PR Newswire||
|November 14, 2012 08:13 AM EST||
GUELPH, Ontario, Nov. 14, 2012 /PRNewswire/ -- W2 Energy, Inc. (OTC: WTWO) Mr. Michael McLaren reports:
The company has been moving forward on all projects and has over the past few months expanding its team as it executes its business plan. We have grown our technical team by 3 more highly skilled professionals in the area of Chemical Engineering, Mechanical Engineering and Electronic Engineering.
Our Biodiesel plant has been tested mechanically and electrically and is working perfectly. We are expecting our first shipment of waste vegetable oil on November 19th and will utilize that shipment as a first run batch. Once complete we will test for ASTM specification and adjust any discrepancies. Following our first batch run we will move into production of 3500 liters per day in order to ramp up the system. We expect to move to the capacity of 7500 liters per day in the beginning of the new year. Over the past few months the company has been busy sourcing waste oil feedstock as well as solid buyers for the product.
The Company's European JV is moving forward on many fronts. We continue to develop our engine and are excited to bring to our family of products a internal combustion rotary engine class. The engine has now been modeled and fully designed and several parts are in the manufacturing stage. Our JV partner continues to source and negotiate other projects and synergistic partnerships.
We continue to focus on revenue generating projects with the clear intention on moving the company from R&D to a commercial phase. We have been working with our marketing team and our consulting groups on a daily basis and we are pleased with are results to date. The corporate rebranding is in full swing and we expect to launch our new website and corporate vision by the end of this month. Previously we had stated that we would post various pictures and blogs on our website, however we decided to wait until the release of our new website to unveil the great things happening here at W2 Energy.
On the corporate side management continues to work with its auditors and legal team to put together our registration statement to become fully reporting. Our corporate team expects to have this competed by year end as we wish to include 2012 as part of the submission.
Our Texas facility is up in full swing and Dr. Teiseh has been continuously working on productionizing our catalyst product for the the gas to liquids reactor. Once this catalyst is in a state of commercial production the team will begin developing other catalysts for use with our NT plasmatron system such as alcohols and other high value chemicals.
As we close out 2012 we are pleased to see the changes in our corporate strategy and the fruits of our labour. The company is becoming increasingly recognized as a leader in our field and we look forward to what 2013 will bring to W2 Energy and its shareholders.
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.
For further information please contact:
W2 Energy Public Relations and Shareholder Information
Mr. Joseph Vazquez
Phone: (754) 204-4549
SOURCE W2 Energy Inc.