CAMBRIDGE, Ontario, September 20, 2013 -- W2 Energy Inc. (OTC Markets: WTWO), a developer of renewable energy technologies applied to new generation power systems announced today the scheduled completion of installation for the biodiesel plant in October 2013. Pending new contracts will be announced in the near future.
“We expect to be fully installed and operational by October 1st. Once done we will run a few test batches and then begin production. We have commitments from several sources of WVO (waste vegetable oil) as well as made off-take agreements with blenders in the area,” stated Michael McLaren, Chief Executive Officer of W2 Energy. He further stated, “We have also finished installing our Coals water slurry unit in the same location and have already demonstrated it to a large prospective client. This will allow us to produce a CWO oil slurry product that has a 10% renewable component competitive the heavy fuel oil business.”
The company is developing the resources for a demo-plant in their Cambridge facility that will produce 250kw of electricity using the new Steamray engine.
W2 Energy has resolved many problems in the past several months, and is now positioned to create the projected revenues that will be earned using their intellectual property in the new biodiesel facility.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company’s progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management’s opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The company’s operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company’s periodic filings with the U.S. Securities and Exchange Commission.
For further information please contact:
W2 Energy Public Relations and Shareholder Information W2 Energy Inc.
Phone: (519) 800-7556
SOURCE W2 Energy, Inc.