Pink Sheets Penny Stock News
Jul 30, 2008 9:45:00 AM
NEW YORK, NY -- (MARKET WIRE) -- 07/30/08 -- W2 Energy Inc. (PINKSHEETS: WTWO), a developer of green energy, is pleased to announce a corporate status update.
Mr. Michael McLaren reports:
Bulletin board status
The company received comments from FINRA regarding its latest submission for an OTCBB listing. The company has addressed the comments and re-submitted the application on July 22, 2008.
On July 15th 2008, the company de-listed its common stock from the Frankfurt exchange. The company is presently working on a fully reporting listing with a separate class of shares and different CUSIP number and expects the listing to be active within the next 120 days.
The company continues to receive several inquires per day for our Modular Micro GTL plants. The demand for our product is increasing rapidly and we are pursuing the qualified applications. The company expects to execute on 5 more joint venture partnerships before end of 2008
Joint Venture Partnerships
W2 Energy received a purchase order from Better World Energy on July 17 2008 for US$7,900,000 the company will now issue an invoice with terms and conditions and accept a deposit of 20%, following the receipt of the deposit the company will begin the design of the 40 ton plant. Once the design plans are approved the company will receive 50% of the plant cost and then 20% upon completion of the manufacturing stage. The company will receive the last 10% prior to shipping the product overseas.
On July 22, 2008 W2 Energy received a purchase order from Cobal Chile for US$12,900,000 the company will now issue and invoice with terms and conditions and accept a deposit of 20%, following the receipt of the deposit the company will begin the design of the 40-ton plant. Once the design plans are approved, the company will receive 50% of the plant cost and then 20% upon completion of the manufacturing stage. The company will receive the last 10% prior to shipping the product from W2 Energy.
W2 Energy's plants are skid mounted and modular and flexible systems, they are manufactured and tested prior to shipping.
The company is presently pursuing a number of technologies that are complementary to our Modular Waste to Energy plants. These technologies include algae production systems, solar generators for the remote production of liquid fuel from stranded natural gas wells and stranded coal deposits.