SOURCE: W2 Energy Inc.
December 10, 2008 12:38 ET
W2 Energy Inc. Issues Update on Joint Venture Projects
TORONTO--(Marketwire - December 10, 2008) - W2 Energy Inc. (PINKSHEETS: WTWO) is pleased to
provide this update on the status of its joint venture projects with both
Cobal Chile and Better World Energy.
On July 22, 2008, the Company announced that it had received a purchase
order from Combustibles Alternativos (Cobal) Chile for a waste-to-energy
plant that they expected to install by the end of 2009. To date, the
Company has not received a deposit, and thus has not started to design the
plant or recognize any revenue from the project. Cobal has experienced a
delay in obtaining the necessary financing for the project.
On July 30, 2008, the Company announced that it had received a purchase
order from Better World Energy for a waste-to-energy plant in Thailand.
Although the Company issued an invoice to Better World, the Company has not
received a deposit, and thus has not started to design the plant or
recognize any revenue from the project. Better World has also experienced
a delay in obtaining the necessary financing for the project amid the
tumultuous political environment in Thailand.
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company that develops
renewable energy technologies and applies it to new generation power
systems. Specifically, W2 Energy Inc.'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.
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.