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W2 Energy Inc.: W2 Energy Buys Parcon Waste Destruction Technology

^{Published on 2009-01-23 06:07:28, Last Modified on 2009-01-23 06:08:16 - Market Wire}
 

TORONTO--(Marketwire - January 23, 2009) - W2 Energy Inc. (PINKSHEETS: [ WTWO ]), a developer of green energy, is pleased to announce that it has purchased a mobile, plasma-based waste destruction system and associated intellectual property, known as the Parcon, from Blue Vista Technologies, Inc.

The Parcon is a transportable waste treatment facility that converts PCBs, CFCs, chemical weapons and explosives into more easily storable and in some cases saleable salts and liquids.

Additionally, W2 Energy intends to modify the Parcon to convert hazardous waste into syngas for the purpose of the production of liquid hydrocarbon fuels and electricity.

For the Parcon mobile waste treatment plant and the associated intellectual property, W2 Energy paid Blue Vista Technologies $50,000, payable in the form of a convertible debenture with a term of 24 months, convertible at the discretion of Blue Vista Technologies into common stock of W2 Energy at a price of $0.05 per share.

W2 Energy will also pay the cost associated with repairing the asphalt under the area where the Parcon unit is stored.

Blue Vista Technologies granted W2 Energy the Parcon intellectual property for all territories and countries worldwide, excluding Australia and Mexico. In addition to other payments made to Blue Vista Technology, W2 Energy will pay Blue Vista Technologies an annual license fee of $10,000 for each of these two countries if it uses the Parcon technology in those countries.

"We are thrilled to bring the Parcon technology into the W2 Energy family of technologies," says Mike McLaren, CEO of W2 Energy. "In addition to our core business of creating electricity and liquid hydrocarbon fuels from biomass feedstocks, W2 Energy will now be able to remediate, and in the future, make fuel and electricity from, almost any kind of hazardous waste. This acquisition makes W2 Energy a stronger company."

About W2 Energy Inc.

W2 Energy Inc. is a growing, publicly traded company that develops renewable energy technologies and applies it 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.

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.