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News: W2 Energy Inc. Corporate Status Report


W2 Energy Inc. Corporate Status Report

Tuesday , August 07, 2007 12:00ET


NEW YORK, NY -- (MARKET WIRE) -- 08/07/07 -- W2 Energy Inc. (PINKSHEETS: WWEN), a developer of green energy, is pleased to announce a corporate status update.

Mr. Michael McLaren reports:

Form 10 SB Statement

On July 9, 2007 the company received comments from the SEC regarding its 10 SB submission made on June 1, 2007. The company will resubmit once the June 30th statements are reviewed by its auditors. The company hopes to have the comments addressed as well as the June 30th statements before August 15th 2007.

Letter of Intent

May 31, 2007 the company announced a letter of intent with Zero Waste Energy Systems; to date the two parties have not been successful in negotiating an agreement. The company will continue to negotiate with Zero Waste but will also look for similar solutions from other parties.

Projects

On July 26, 2007 the company announced their intent to develop a reactor capable of being powered by solar energy. To date the company is in contact with several solar power providers and is working with them to find the acceptable configuration for our reactor. The company will then partner with the provider who demonstrates the best solution for the reactor.

On July 25, 2007 the company announced its intent to build a bench scale coal to diesel plant in its Toronto facility. The project is moving forward and design plans are being generated. The company will begin manufacturing of the reactor the beginning of September and is scheduled for completion in early 2008. Once the project is running on a continual basis the company will start to ship samples of the product to customers in order to satisfy the letters of request announced last year.

Financing

The company continues to entertain various financing opportunities. To date the company has been financed by insiders and arms length shareholders via restricted stock transactions. The company will continue this method of finance until it can find a suitable finance proposal that is best for the corporation and its shareholders. The company as of this date has raised approximately $1,000,000 US via qualified investors and insider loans. Current project budgets call for $100,000 dollars of capital which is already committed to via qualified investors either by shareholder loans or restricted stock transactions.

Joint Ventures, Partnerships and Acquisitions

W2 Energy is actively pursuing joint venture partnerships and acquisitions. The company is in the process of negotiations with several potential partners for joint venture relationships. W2 Energy is also in negotiations with a few potential acquisition candidates and is presently evaluating the corporate synergy and technologies of these candidates. The company is aggressively pursuing acquisition candidates with technologies in the field of alternative energy production.

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. For further information, please contact:

--------------------------------------------------------------------------------W2 Energy Inc.
[e-mail]
www.w2energy.com

Source: W2 Energy Inc.--------------------------------------------------------------------------------