Business & Finance
Tue, February 10, 2009Mon, February 9, 2009Fri, February 6, 2009Thu, February 5, 2009Wed, February 4, 2009Tue, February 3, 2009Mon, February 2, 2009Sun, February 1, 2009Fri, January 30, 2009W2 Energy Inc.: W2 Energy Acquires Plasma Assisted Gasifier
Published in Business and Finance on Thursday, February 5th 2009 at 6:47 GMT, Last Modified on 2009-02-05 06:48:38 by Market Wire
TORONTO--(Marketwire - February 5, 2009) - W2 Energy Inc. (
The Plasma Assisted Gasifier (PAG) can convert any hydrocarbon feedstock into synthesis gas. Suitable feedstocks for the PAG include natural gas, municipal solid waste, coal, agricultural waste, tires, plastics and sewage.
W2 Energy will combine the PAG technology with its proprietary gas-to-liquid catalyst in order to produce liquid hydrocarbons from synthesis gas. The W2 Energy gas-to-liquid catalyst can produce gasoline, diesel, jet fuel and/or industrial waxes from the kind of synthesis gas made by the PAG plant.
W2 Energy will pay Kinectrics $375,000 Canadian for the PAG and its intellectual property. W2 Energy will pay Kinectrics according to the following schedule: a non-refundable deposit of $37,500.00 upon execution of this agreement; $75,000 payable by July 1, 2009; $75,000 in the following 60 days; $93,750.00 in the following 60 days; then $93,750.00 in the following 60 days.
"The PAG plant represents a step forward in gasification technology. It can gasify any hydrocarbon feedstock into synthesis gas, and we can turn that into nearly any liquid fuel," says Mike McLaren, CEO of W2 Energy. "As always, W2 Energy will never use any food grade feedstock to make fuel. We don't have to. The world is our energy source."
About Kinectrics
Kinectrics ([ www.kinectrics.com ]) is an established, independent company offering clients the advantage of over 95 years of proven expertise and experience, founded on solving the most demanding technical challenges for Ontario Hydro, one of North America's largest and most reliable utilities. Their award-winning team of scientists and engineers is recognized worldwide for outstanding technical excellence in the energy sector.
Kinectrics understands how technology affects performance, the environment, safety and economics of today's complex industrial world.
Proven expertise and experience
Kinectrics' specialists in generation (nuclear, hydro and fossil), transmission, distribution, industrial energy services, and environmental technologies use innovative science and engineering to help clients improve business performance. They offer comprehensive services worldwide, in a broad range of technical disciplines across the energy sector.
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.
