Can't wait to here the update from this.
ITS COMING IMO.
W2 Energy, Inc. (PINKSHEETS: WTWO) is pleased to announce the immediate development of a Coal/Waste to Liquid (CTL) prototype plant capable of producing 10 ton/day coal/waste synthetic fuel production in Selebi-Phikwe.
W2 Energy estimates the cost of manufacturing the CTL plant at $5 million. Fuel production for the 10 ton/day plant is estimated at 1,000 gallons per day. However, after the utilization of EGM's Enhanced Fuel Refinery System those estimates are expected to reach 7,571 litres or 2,000 gallons per day.
Recent diesel fuel prices in Botswana are .97 cents (USD) per litre or $3.68 (USD) per gallon. At a production level of 7,571 litres or 2,000 gallons of biodiesel per day, estimates see revenues producing approximately $2,686,000 (USD) per year. Those estimates are for fuel production only and do not take into consideration any power produced by the plant.
BCL which is 93% government owned has already committed to sign a Power/Fuel Purchase Agreement for all power and fuel produced by the plant.
Update on Agri-Green Biodiesel Plant:
As previously reported, on May 02, 2012, W2 Energy purchased Agri-Green Biodiesel, Inc. of Fernie, British Columbia. The Biodiesel plant has been shipped to W2 Energy's corporate facilities and is in the final stages of completion. The company estimates having the plant fully operational within the next 30 days.
Biodiesel prices have been ranging from $4.25 to $5.50 a gallon over the last six months. Current prices have been consistently running at approximately $4.50 a gallon. W2 Energy's new biodiesel plant processor is capable of consistently producing 657,894 US gallons or 2,490,399 litres of biodiesel per year. At today's current price, the company estimates an approximate revenue base of $2,960,523 (USD) from the production and sales of biodiesel. However, future plans are to retrofit the processing plant in order to increase production to 1.2 million gallons or 4,980,798 litres by next year.
Mike McLaren, President and CEO of W2 Energy, stated, "Several years of research and development combined with years of strategic negotiations with various JV partners have created the ability for W2 Energy to become an international manufacturer and marketer of its patent pending products." He also stated, "With biodiesel becoming one of the main renewable fuels used worldwide by commercial and government fuel consumers, we have seen biodiesel production triple over the last 12 months. This places us in a unique position where the demand for biofuel continues to exceed the supply. Our technology will help meet those demands as we anticipate consumption increases."
AI
