GUELPH, Ontario, Aug. 8, 2012 /PRNewswire/ -- W2 Energy, Inc. (OTC: WTWO) is pleased to announce that it has received initial deposits of $80,000 for its first purchase order of W2 Energy Combustion Powered Rotary Engines.
The Company announced on May 07, 2012, it had received an initial purchase order for $300,000 as Phase I of a purchase program worth $4,000,000. The initial order calls for the manufacturing of 5 combustion powered rotary engines that will convert several palm oil power plants in Germany.
This purchase program also includes the development and manufacturing of a demo plant for Dubai. The demo plant is now fully designed and ready for production. Plans are for the plant to utilize its new state of the art liquid plasma torch technology.
The new demo reactor is now in production and is expected to be ready by the end of August. Additionally, the Company expects to have its new generation combustion motor up and running by mid- September.
Mike McLaren, W2 Energy President and CEO, stated, "We consider this initial deposit a milestone for the Company and its relationship in Europe. We are extremely confident that this is the beginning of several opportunities beyond what we already have under contract."
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
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
Email: [email protected]
SOURCE W2 Energy Inc.