W2 Energy Inc. (PINKSHEETS: WTWO), a developer of green energy, is pleased to issue this corporate status update.
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Corporate
On May 8, 2008, the company announced that it expected $5,000,000 dollars in revenue before the year end of 2008. Although its joint venture partners have been making great strides in the development of its projects, to date the projects have not produced any revenue. W2 Energy continues to support and assist its joint venture partners in bringing these projects to fruition. Current economic conditions unfortunately have hindered the projects financially and financing that was previously available has been delayed indefinitely.
OTCBB listing
The company, through its sponsoring market maker, continues to push forward on the application to have its common stock traded on the OTCBB. The application is still in the comment phase.
Biodiesel
On June 30, 2008, the company announced its intention to form a biodiesel subsidiary. To date the company has been in negotiations to secure a site to produce this fuel. The company is also seeking financing for the bio-diesel equipment and is in negotiations with several equipment finance vendors.
Joint Ventures The joint ventures between Cobal Chile of Santiago, Chile and Better World Energy of Bangkok, Thailand are all moving forward, but are all waiting for financing.
Projects
W2 Energy is preparing to embark on an engineering study which will provide conclusive, 3rd party test data on the operation of the pilot unit.
The company will be processing coal, municipal solid waste, tires, plastics and agricultural waste in the pilot unit, then recording the output of electricity and liquid fuels and hydrocarbon products such as synthetic (zero sulfur) diesel, gasoline, Naphtha, and industrial waxes.
Once the study is complete the company will be publicizing these electricity and hydrocarbon output figures so that potential joint venture partners can provide these figures to their project development and financial partners.
These output figures will be available on the W2 Energy website ( www.w2energy.com )
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
For further information, please contact: W2 Energy Inc. info@w2energy.com www.w2energy.com
SOURCE: W2 Energy Inc.
$0.012 (11/06/08)
