Cambridge, Ontario, April 24, 2014-- W2 Energy, Inc. (OTC: 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