W2 Energy Inc. to Acquire Four Patents
Last Update: 12:25 PM ET Aug 9, 2007
NEW YORK, NY, Aug 09, 2007 (MARKET WIRE via COMTEX) -- W2 Energy Inc. (PINKSHEETS: WWEN) (FRANKFURT: WJD), a producer of Green Energy, is pleased to announce it has negotiated to purchase four patents both US and Canadian. The patents which are versions of the rotary engine and rotary device now give W2 Energy exclusivity with this technology. The acquisition which is expected to close September 15th, 2007 would give the company both US and Canadian patents for the pump and the rotary motor for a total of four individual patents. The company will pay US $20,000 total for the patents and will retain all rights without payment of royalties.
The company will announce confirmation of the closing and description of the assets once the deal is closed in September.
Mr. Michael McLaren, CEO, states, "We are very happy to be acquiring these patents which add to our asset base but also give us exclusivity with these technologies. The rotary device is used in both the V90 pump and V70 motor for use in the low head turbine. This low impact hydro device is used as a stand alone or as part of W2 Energy's SEGS system which combine the low head turbine, wind energy and the company's biomass to syngas tornado reactor. The system is intended for remote or small off grid communities that require 100 KW to 1MW of power."
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company on the OTC (PINKSHEETS: WWEN) and FRANKFURT (FRANKFURT: WJD) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces Green Power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing biomass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial 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. info@w2energy.com www.w2energy.com
SOURCE: W2 Energy Inc.
