GUELPH, Ontario, June 20, 2012 /PRNewswire/ -- W2 Energy, Inc. (OTC: WTWO) is pleased to announce that its Joint Venture Partner W2H Luxembourg Holdings SA and EGM World LLC has signed an Agreement with BCL Limited (BCL) based in Botswana, Africa.
The Agreement calls for a Joint Venture (JV) between the parties in order to develop the legal, financial, technical framework, and feasibility studies for the exclusive development of a Petrochemical Industry in Botswana, Africa.
The Agreement also calls for the immediate development and implementation of a Coal/Waste to Liquid (CTL) prototype plant capable of producing 10ton/day coal/waste synthetic fuel production in Selebi-Phikwe.
Upon the completion of the CTL technology project and a feasibility study made on the prototype plant, plans are for the successful development of a comprehensive marketing plan that will encompass all forms of energy produced from a full scale petrochemical plant in Africa.
Additionally, after the formation of the JV Company, the partners will begin with EGM fuel tests on the BCL fleet. The test goal is to reduce BCL fuel purchases from wholesalers by up to 50% utilizing EGM's "Enhanced Fuel Refinery System" developed in Germany and funded by the Royal Group of Abu Dhabi and the Matt Lamb Foundation. This technology employs a proprietary "Vortex Systems" within an ultrasonic cavitation chamber to perform molecular bounding in order to produce a high quality/ultra-low emission fuel. Upon the successful completion of the tests, the partners plan to market and sell fuel on a wholesale basis through long term contracts in Botswana and the rest of Africa, which will justify financing for a full scale petroleum plant.
Under terms of the Agreement, BCL has granted W2H and EGM the exclusive rights in the outlined territory for the business and has agreed to sign a Power/Fuel Purchase Agreement for power and fuel produced by the prototype plant.
BCL shall also supply coal, waste water and other raw materials to the CTL project.
Karl Neubacher, Chairman of W2H Luxembourg SA, stated, "BCL is the biggest employer in Botswana with close to 5000 employees. They are also the highest energy consumer in the country. The Botswana Government currently owns a 93% stake in BCL and has the best educated engineers in the region." He also stated, "BCL has all the resources needed for the successful completion in establishing a successful Petrochemical Industry in Botswana with 8 Million Liters of Fuel production per day. We are very happy that BCL decided to choose our CTL technology over the well established CTL technology from SASOL in South Africa."
About W2 Energy:
W2 Energy Inc. develops renewable energy technologies and applies it to new generation power systems. Specifically, W2 Energy's plasma assisted biomass to energy plants utilize state of the art technologies to produce green energy 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
For more information on EGM World LLC please see: www.egm-international.com
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
Mr. Joseph Vazquez
Phone: (754) 204-4549
SOURCE W2 Energy, Inc.