W2 Energy, Inc. (OTC Pink: WTWO) (PINKSHEETS: WTWO) is pleased to report on its progress.
As reported in our last press release of April 24th 2014, we have begun limited batch production of biodiesel in our new location. The company has also entered into negotiations with an external consultant to assist in refining the process as well as expanding and managing the plant operations. Management has also begun negotiations with US purchasers of biodiesel to supply the product into the US as well as Canada.
The company continues to focus on biofuel production and is entering negotiations with several possible acquisition targets in this field to expand our capacity and geographical market.
Clean Coal Fuel
We have been perfecting our clean coal technologies with the emphasis on CWS (coal water slurry) and CWO (coal water oil slurry) and we now are in the position to file for patent protection on the product and the process. Once the patent is filed we will disclose the product and begin sales of the system.
Now that the process is nearing completion management has approved a budget to purchase as 150 kWh heavy fuel oil boiler, which will be coupled with our rotary steam engine and generator package. The system will be used as a demonstration unit to prove our fuels as a direct replacement of heavy fuel oils and to generate sales for our clean coal fuel and systems.
The company continues to work on its audited financials and registration statement and expect to be competed and filed in the later half of May 2014. In the meantime we will continue to file OTC Markets website in order to remain Pink Current status.
The company is also continuing to push forward on our rebranding as mentioned in previous press. The company has been given permission by the shareholders as disclosed in the company 2013 year end to change the company name and symbol as part of the rebranding strategy.
We continue to position ourselves as a clean energy company with biofuels as our principal product and market.
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.