WTWO
W2 Energy, Inc. (PINKSHEETS: WTWO) is pleased to announce that it is has completed the fabrication and installation of its recently acquired Bio-diesel plant.
As previously reported, W2 Energy recently purchased a fully operating turn-key bio-diesel plant from Agri-Green Biodiesel, Inc. The plant was successfully transported to the Company's 23,000 sq. ft. manufacturing facility in Guelph, Ontario last month and is now fully functional and operating.
The Company is now in the process of sending out sample runs to an independent laboratory in order to obtain its government ASTM spec certification. In the interim, the Company will be running a series of sample runs in order to prepare for full production.
The Company is also in the process of negotiating with buyers for contracts on their bio-diesel fuel once full production starts to commence.
Current expectations are for the production of approximately 650,000 gallons of bio-diesel per year with this plant which at today's current market value should be worth close to $3 million in revenues. Future plans for the plant will include a retrofit modification of the plant in order to increase its production by up to 1.2 million gallons per year. By increasing the productions capabilities the Company expects to be able to double its revenue capabilities.
Mike McLaren, President and CEO of W2 Energy, stated, "We consider the timely completion of our bio-diesel plant, to be a testament to the hard work and dedication of our engineers, who have been working around the clock, seven days a week, in order to meet our corporate deadline. We now fully expect the 3rd quarter to be our first quarter of revenue generating production."
W2 Energy expects to post a blog and new pictures of their new bio-diesel plant on its corporate website by August 08, 2012.
