Business & Finance
Business and Finance
Business and Finance
Fri, April 3, 2009
Thu, April 2, 2009
Wed, April 1, 2009 W2 Energy Inc.: W2 Energy Receives Letter of Intent for Three 4-Ton-per-Day Energy Plants
TORONTO--(Marketwire - April 1, 2009) - W2 Energy Inc., (
The purchase of the plants is subject to the parties signing a Memorandum of Understanding and full Operating Agreements between W2 Energy and AXA Investments.
AXA Investments has agreed to tender non refundable initial deposits of $10,000 US per plant to show its commitment to the project. All final agreements must be completed by August 31, 2009 and the first plant fully operational by December 31, 2009. The second plant must be operational by December 31, 2010.
W2 will complete and be ready to ship the first 4-ton-per-day waste-to-energy plant by the end of May 2009. In addition to cleaning up the garbage on the Caribbean island, a significant selling point of the W2 energy plant is its ability to process old tires without pretreatment or shedding prior to processing. The processing is done inline as part of the machine. The tires go in whole and come out as fuel, electricity or a combination of both.
Old tires are a major environmental problem on the Caribbean islands. W2 Energy's proprietary, medium temperature gasifier converts the tires into (sulfur free) diesel fuel and electricity without any carbon dioxide emissions. A 4-ton-per-day mass-to-energy plant can process 4 million tires per year.
Independent testing of the diesel fuel generated by the W2 plant shows the diesel to be so pure and clean-burning that it can be used as a fuel additive.
W2 Energy is disposing of waste, improving the environment, creating electricity and high quality liquid fuel.
About W2 Energy Inc.
W2 Energy 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.
W2 Energy Inc. trades in the United States on the OTC under the symbol "WTWO."
NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory bodies.
