NEW YORK, June 14, 2005 (PRIMEZONE) -- W2 Energy Inc. (Pink Sheets:WWEN) a developer of Green Energy technologies, is pleased to announce they have signed a definitive GSA (General Services Agreement) with Aker Kvaerner (Canada) http://www.akerkvaerner.com of Norway.
The intent of the agreement is for Aker Kvaerner to provide its extensive engineering and technology expertise for the engineering, design and constriction of W2 Energy Inc.'s Combination Biomass to Electricity and GTL Fuel plants. Mr. Michael McLaren, CEO W2 Energy Inc. stated "With their unparalleled expertise and knowledge in design, engineering and construction of similar types of cutting edge plants and facilities as W2's Biomass to GTL/Electricity plant, Aker Kvaerner was the logical choice as our long term partner." Mr. McLaren also stated "The Corporation is looking forward to breaking ground and receiving draft designs of the plant in the next few months."
About Aker Kvaerner
Aker Kvaerner ASA is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Pharmaceuticals & Biotechnology, Mining & Metals, Power Generation and Pulp & Paper.
The Aker Kvaerner group consists of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities. The parent company of the group is Aker Kvaerner ASA.
Aker Kvaerner has aggregated annual revenues of approximately NOK 35.6 billion and employs approximately 21,000 people in more than 30 countries.
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company on the OTC (Symbol WWEN) that develops renewable energy technologies and applies it to new generation electrical power systems. Specifically, W2 Energy Inc. produces Green Power utilizing its core-patented technologies to produce green power generating and clean transportation fuel plants utilizing bio-mass and GTL technologies. W2 Energy Inc. has seasoned management and cutting edge technology. W2 Energy Inc. owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
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.