Business & Finance
Tue, January 27, 2009Mon, January 26, 2009Sat, January 24, 2009Fri, January 23, 2009Thu, January 22, 2009Wed, January 21, 2009Tue, January 20, 2009Mon, January 19, 2009Fri, January 16, 2009Thu, January 15, 2009W2 Energy Inc.: W2 Energy and Alpha Renewable Energy Form Renewable Energy Partnership
Published in Business and Finance on Thursday, January 22nd 2009 at 4:54 GMT, Last Modified on 2009-01-22 04:55:28 by Market Wire
TORONTO--(Marketwire - January 22, 2009) - W2 Energy Inc. (
Effective as of December 30, 2008, W2 Energy, Inc. has licensed to Alpha Renewable Energy, LLC its expertise and technology for the creation of synthetic diesel and electricity from biomass. The W2 Energy technology includes its plasma reactor, GTL reactor, and small electrical generating systems.
This licensing agreement includes the use, manufacture, marketing and promotion of W2 Energy technology by Alpha Renewable Energy, exclusively in the country of India. The duration of this licensing agreement is for a term of 10 years and provides for an automatic 10 year renewal if certain conditions are met.
In exchange for the license, Alpha Renewable Energy will pay W2 Energy $500,000, payable $100,000 upon signing of the License Agreement, $100,000 upon delivery of the manufacturing drawings and plants, $100,000 upon the start of production, $100,000 within 12 months from the start of production, and $100,000 within 24 months from the start of production. In addition, Alpha Renewable Energy will pay W2 Energy a royalty equal to 6% of the gross annual sales from any equipment incorporating the licensed technology.
"Everyone knows that the future of all utilities -- waste management, as well as the production of electricity liquid fuels -- is distributed," says Mike McLaren, CEO of W2 Energy. "Our small and medium size biomass-to-energy plants are a great fit for the India, where there are so many towns that need waste remediation, electricity and liquid fuel."
"We can't wait to get started on our partnership with W2 Energy," says Ashwin Patel, President of Alpha Renewable Energy. "This partnership may start small but it is going to get up to speed very quickly. Alpha Renewables, using this great W2 Energy technology, intends to make a real statement in India with electricity and synthetic fuels from a variety of feedstocks, including but not limited to municipal solid waste."
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company that develops renewable energy technologies and applies them to new generation power systems. Specifically, W2 Energy Inc.'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.
About Alpha Renewable Energy
Alpha Renewable Energy is a company based in Atlanta, Georgia that produces renewable energy products. The company currently has developed several products including a Bio-refinery project in partnership with the University of Georgia, bio-mass wood gas stoves for rural areas and standalone power generators also used for rural areas.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
