W2 Energy Begins Biofuel Production
April 24 2014 - 9:05AM
Marketwired
W2 Energy Begins Biofuel Production
Waste Vegetable Oil Biofuel Plant Begins Production at Cambridge
Facility
CAMBRIDGE, ON--(Marketwired - Apr 24, 2014) - W2 Energy,
Inc. (PINKSHEETS: WTWO) is pleased to report our biofuel plant
installation is beginning production at our Cambridge facility.
Over the last month as communicated in our press release of
March 27th 2014 we tested various small batches of fuel and now are
confident the plant is running well and will produce ASTM
specification fuel on a consistent basis.
The company will begin production on a batch basis and using
cash flow from sales will ramp production up while remaining cash
flow positive. Once we reach a consistent production rate the
company will apply for credit lines that will allow us to move to
full production and beyond.
Mr. Michael McLaren, CEO, states, "We are very excited now to be
finally here and in the biofuel business. Our current plan is
to ramp up production with our system to its maximum of 7,500
liters of waste vegetable oil per day. Once we hit those
targets we will expand the plant to double that capacity to 15,000
liters per day."
Now that the company has begun production we will apply for the
government biofuel production subsidy.
On April 9th the company informed its landlord at 155B Turnbull
Crt Cambridge Ontario that it will be vacating the premises due to
significant and unattended leaks in the roof that were potentially
causing damage to our machinery and equipment. As a result the
management contacted the landlord at 120 Turnbull Crt. Cambridge
and was able to negotiate a deal to annex Unit G and consolidate
all operations at 120 Turnbull Crt. The resulting move took
some time and resources from our focus on the biofuel plant however
we still made our target of production by month end. The
resulting consolidation has resulted in a reduction of overhead of
approximately $1000.00 per month.
The company will begin posting pictures and movies of the plant
on our blog later in the month.
About W2 Energy Inc.
W2 Energy Inc. develops renewable energy technologies and
applies it to new generation power systems. Specifically, W2
Energy's plasma assisted bio-mass to energy plants, utilizing the
state of the art technologies to produce green energy in both fuel
(sulfur free diesel) and electricity at the most efficient cost in
capital investment and production per/barrel, per/Megawatt. W2
Energy Inc. has seasoned management, cutting edge technology and
owns a large technology portfolio of patents and know-how that has
been extensively validated and ready for commercial production.
For more information on W2 Energy please see www.w2energy.com
.
Safe Harbor
This release contains statements that constitute forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended. These statements appear in a number of places
in this release and include all
statements that are not statements of historical
fact regarding the intent, belief or current expectations of W2
Energy, Inc., its directors or its officers with respect to, among
other things: (i) financing plans; (ii) trends affecting its
financial condition or results of operations; (iii) growth strategy
and operating strategy. The words "may," "would," "will," "expect,"
"estimate," "can," "believe," "potential" and similar expressions
and variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond W2 Energy, Inc.'s
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors. More information about the potential factors
that could affect the business and financial results is and will be
included in W2 Energy, Inc.'s filings with the Securities and
Exchange Commission.
For further information please contact: W2 Energy Public
Relations and Shareholder Information W2 Energy Inc. Phone: (519)
800-7556 Email: info@w2energy.com