Business
W2 Energy Begins Biofuel Production
W2 Energy Begins Biofuel Production.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"\n \n \n W2 Energy Begins Biofuel Production\n \n \nW2 Energy Begins Biofuel Production\n\nWaste Vegetable Oil Biofuel Plant Begins Production at Cambridge Facility\n\n \n 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.\n 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. \n 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. \n 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.\"\n Now that the company has begun production we will apply for the government biofuel production subsidy.\n 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.\n The company will begin posting pictures and movies of the plant on our blog later in the month.\n About W2 Energy Inc.\n 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 pr...