Date: July 17, 2008
Source: W2 Energy Inc.
Better World Energy Purchases Waste-to-Energy Plant From W2 Energy Inc.
W2 Energy Inc. OTC (PINKSHEETS: WTWO) is pleased to announce that Better World Energy of Thailand has issued a purchase order for a waste-to-energy plant that will convert 40 tons of municipal waste into electricity and 70 cetane synthetic diesel. The plant will use W2 Energy's proprietary plasma and gas to liquid technologies.
Better World Energy will pay $7,950,000 to W2 Energy. W2 Energy will build, install and commission the plant. The plant includes a waste handling section, a reactor which turns the municipal solid waste into syngas, a gas-to-liquid section which converts the syngas into synthetic diesel, and a steam turbine which converts the heat produced into electricity.
"This will be the first of many projects we will develop with Better World Energy," says Mike McLaren, CEO of W2 Energy. "Better World Energy and W2 Energy share the same world view. Both companies are committed to creating clean energy without using food as a feedstock."
Dullajit Apaivongse, Managing Director of Better World, states, "We are thrilled to have W2 Energy as our joint venture partner. They have brought to market the best small-scale waste-to-energy and gas-to-liquid systems in the world."
W2 Energy expects to begin construction of the plant within the next 90 days. The joint venture expects to commission the plant by July of 2009. The plant will produce approximately 100 barrels of synthetic diesel per day and will have a 5 MW steam turbine for electricity production.
W2 Energy and Better World Energy have formed this joint venture to develop renewable and sustainable energy sources which grow the world economy.
About W2 Energy Inc.
W2 Energy is a growing, publicly traded company that 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.
About Better World Energy
Better World Energy works in Thailand and the Far East to help clean the environment and provide energy for the global economy. They build waste-to-energy plants which remediate municipal solid waste, human and animal waste, agricultural waste and commercial and industrial waste, and turn those feedstocks in to electricity, liquid fuels and valuable commodity by-products.
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.