WTWO (.065) W2 Energy Inc. Corporate Status Report
Tuesday, June 24 2008 10:34 AM, EST
Market Wire "US Press Releases "
NEW YORK, NY -- (MARKET WIRE) -- 06/24/08 -- W2 Energy Inc. (PINKSHEETS: WTWO) ( FRANKFURT : WJD), a developer of green energy, is pleased to announce a corporate status update.
Mr. Michael McLaren reports:
Bulletin board status
The company has received comments from FINRA regarding its latest submission for an OTCBB listing. The company is addressing the comments and will be re-submitting the application shortly.
Quotations
The company continues to quote micro GTL (Gas to Liquid) systems and has increased to the level of 2000 barrels per day and smaller. W2 Energy is rapidly becoming the supplier of choice with these systems.
Joint Venture Partnerships
Cobal Chile
W2 Energy and Cobal Chile have now completed their financing application for the 2 40-ton plants and are awaiting approvals on the financing in order to begin construction of the plants.
TecFuels
W2 Energy and TecFuels are presently working on a finance package for the 40-ton plant. We are completing our finance package and will be submitting within the next few weeks.
Better World Energy
Initial approvals are being sought and the joint venture is beginning the finance process for this project.
Pilot Plant
W2 Energy is in the process of setting up a 4 ton per day pilot plant that the company will use for demonstration purposes for potential customers, partners and investors. The plant will be located in Toronto, Ontario .
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.
For further information, please contact:
W2 Energy Inc.
info@w2energy.com
www.w2energy.com
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