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.