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W2 Energy Inc. and National Coal sign term sheet to build clean coal to diesel pilot plant
W2 Energy Inc. and National Coal sign term sheet to build clean coal to diesel pilot plant.
About this update from American Energy Partners, Inc.
[{"type":"text","content":"W2Energy, Inc. (PINKSHEETS: WTWO) (W2) is pleased to announce that it has signeda term sheet with National Coal Corp. (NASDAQ:NCOC), www.nationalcoal.com (NCC) to form Tennessee Clean Coal, LLC, a company whichwill initially build a one ton per day pilot plant to convert Tennessee coalinto gasoline, ultra low sulfur diesel, JP8 jet fuel, and electricity. ForTennessee Clean Coal, W2 will provide all of the technology and all of thefinancing; NCC will provide theland and the feedstock. In2009 NCC sent a shipment of itsbituminous coal to W2 for testing purposes. Using its NT Plasmatron lowtemperature gasifier, W2 successfully gasified the coal in three forms: powderform, mixed with water and mixed with waste vegetable oil. Inaddition to producing liquid fuel and electricity, Tennessee Clean Coal willdemonstrate that coal-based energy and power generation can be done more cleanly.W2 Energy’s SunFilter Algae Reactor will sequester some or all of thegreenhouse gases normally associated with coal-based power generation. “TennesseeClean Coal will demonstrate that Tennessee coal can create the liquid fuel andelectricity that this country craves while also taking care of theenvironment,” says David Freund, VP of Business Development for W2. “Inaddition to generating cost-effective fuel and electricity, Tennessee CleanCoal will bring high quality jobs to the Tennessee coal industry.” OnceTennessee Clean Coal’s first plant is proven and operational, the partnershipwill immediately begin planning for much larger plants that will providesubstantial amounts of electricity and liquid fuel for the Tennessee economy. “NationalCoal is very excited to be a partner in Tennessee Clean Coal,” says DanielRoling, President and CEO of National Coal. “We think this business venturewill prove out an entirely new business case for the coal industry.” W2Energy trades in the United States on the OTC, under the symbol “WTWO”. Forfurther information, please contact Mike McLaren at 519-341-3185 or visit www.w2energy.com. NOTE:Certain statements in this press release are “forward-looking statements”within the meaning of the Private Securities Act of 1995. Such statementsinvolve known and unknown risks, uncertainties and other factors that may...