NEW YORK, May 22, 2006 (PRIMEZONE) -- W2 Energy Inc., a developer of green energy, is pleased to announce it has issued a letter of intent to TechnoJunk and GreyMatter of Christchurch, New Zealand to build a plant for an ongoing producing coal mine.
Mr. Michael McLaren states, "The project immediately gained my interest as it was an opportunity to show the real value of our technology." The plant would produce both diesel fuel and electricity to overcome a unique transportation problem with the material handling of the coal.
The project which will be at least a 10,000 bbp plant will be exceptional in that it will show our technologies capabilities to produce clean energy from coal in the cleanest place on earth. The 10,000 bbp plants produce approximately $US310M per year in product.
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 biomass to energy plants utilize state of the art technologies to produce green energy as both fuel (sulfur free diesel) and electricity at the most efficient cost in capital investment and production per/barrel, per/Megawatt.
The W2 Energy GAT reactor breaks down biomass or coal using the chemical energy stored in the biomass itself; the plasma acts as a high temperature catalyst. Unlike typical plasma reactors that utilize convection of the intense heat produced by the plasma, our GAT reactor can amazingly produce enough Syngas (H2, CO) to feed a 10,000 barrel per day synthetic diesel plant and 100 Megawatt steam turbine with a mere 4 MW input. Since our unique process works in this manner, most if not all the CO2 produced by the process is converted into carbon suboxides in the form of humic acid, and is mixed within the ash to produce high grade organic fertilizer. Therefore the process is completely C02 neutral even using coal or peat as base fuel.
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.