NEW YORK, July 25, 2006 (PRIMEZONE) -- W2 Energy Inc., a developer of green energy, is pleased to announce it has concluded its first run of test materials in its plasma assisted biomass to liquid fuel test facility. Among those materials tested were peat, lignite (brown coal) and sewage sludge.
Mr. Michael McLaren states, "We have completed first run tests of various feed stock in our plasma assisted biomass to liquid fuel plant with resounding results." He also stated, "The tests showed that we are able to produce a quality liquid fuel product for as low as $0.14 per gallon or $5.88 per barrel base manufacturing cost."
W2 Energy continues to push forward on the scale-up construction of our 100 BBD plant and feel confident the plant will be able to produce sample runs of product by Q1 2007. W2 Energy currently has approximately US$1.7B in production requests for their diesel product. With approximately 97 Million shares outstanding this translates to a per share book value of $17.50 per share.
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.
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.