NEW YORK, May 16, 2006 (PRIMEZONE) -- Mr. Michael McLaren reports:
Operations
The company for the better part of last year was completing its restructuring plan to provide a strong platform for growth. During this time the corporate officers were busily building strategic alliances and partnerships that would be the foundation of our company becoming a multinational corporation.
We have built several solid relationships with other multinational companies such as Aker Kvaerner http://www.akerkvaerner.com who will provide their vast engineering experience to construct our biomass to diesel/electricity plants. As we continue down the path of bringing to commercialization this unparalleled technology we continue to receive letters of request for production quantities as well as government officials appealing for plants to be commissioned in their area.
Technologies
W2 Energy Inc. continues to expand the plasma reactor capabilities and has begun to experiment with the chemical decomposition of waste plastic utilizing the technologies. We feel this multi-billion dollar market was largely being ignored. Although certain papers were written regarding the gasification of these materials, the cost involved largely overrode the desire for companies and governments to adopt a strategy like this.
The W2 Energy reactor is capable of high temperature chemical decomposition of the products and is able to break the plastics down into usable components regardless of their chemical composition both efficiently and cost effectively. Thus we are able to recoup most of the usable products within the plastics and reform them into other products such as fuel and other carbon based products.
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 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 manor most if not at 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.