CAMBRIDGE, ON - March 27, 2014 - W2 Energy, Inc. (OTC Pink: WTWO) (PINKSHEETS: WTWO) is pleased to report on first quarter 2014 progress.
Biodiesel Plant Progress
As reported in our last press release of February 26th 2014, we have completed the installation of our biodiesel plant in our new location and as of today will begin to process small batches for testing and trouble shooting purposes. This process is expected to take 30 days while we work out the bugs and kinks and begin to process on a daily basis. We are excited to be in the fuel business at last. Once we have produced a few batches we will post on our blog pictures and explanation of the process.
The company continues to develop our technologies we acquired over the last few years when time and money permit. Our strategy this year is to bring these technologies forward while remaining committed to our fuel production business. The company is also pursuing assets in the green fuel production business as well as traditional energy assets that fit our corporate vision. Coal tailings, coal waste sites and stranded or distressed gas assets are among our target acquisitions.
The company is presently focused on our coal water slurry to clean liquid fuels system and has been for the better part of the last 2 years. Our biodiesel production also plays a significant role in this product. We have continued to perfect our system and have made some major advances in which the company will apply for patents during the second quarter of this year.
The company has hired a full time chemical engineer to work specifically on the clean coal water slurry product and has applied for government research assistance on this project, which is expected to commence on April 1st 2014.
We continue to work on the solar technologies and water turbine technologies as well when time and funds permit. Our intent is to fund the continued development of these technologies from cash flow and government assistance rather than equity or debt investment at this time. During the last few months we have also made several advances in our plasma reforming technologies which the company will also apply for patent during the next quarter. Funding for the intellectual property protection through patents will come from shareholder loans.
The company continues to work on its audited financials and registration statement and will give a separate update for its status at a later date. Our effort in the short term is filing the 2013 year end on the OTC Markets website in order to remain Pink Current status. The company is also continuing to push forward on our rebranding as mentioned last year. Shareholders can expect big changes in the coming months as we position the company on our path to success.
The company is also presently searching for a qualified individual who can monitor and answer shareholder questions as well a market the company's technologies through online sales and business development.
The company's website continues to generate interest in our products, as well our management team is actively marketing a Joint Venture strategy for our fuel production systems. We continue to pursue qualified partners and expect that 2014 will bring forth several projects of this nature.
About W2 Energy Inc.
W2 Energy Inc. develops renewable energy technologies and applies it to new generation power systems. Specifically, W2 Energy's plasma assisted bio-mass to energy plants, utilizing the state of the art technologies to produce green energy in 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
W2 Energy Inc.
Phone: (519) 800-7556
SOURCE: W2 Energy, Inc.