W2 Energy, Inc. (PINKSHEETS: WTWO) is pleased to announce that it has initiated its agreement with its joint venture partner WH2 of Luxembourg for the manufacturing, sales and distribution of W2 Energy's line of products. The value of the agreement is placed at $4,000,000.

An initial purchase order for $300,000 as Phase I of the purchase program has been received by W2 Energy. The order calls for the manufacturing of 5 combustion powered rotary engines that will convert several palm oil power plants in Germany. Future purchase orders will include the development of a 10 ton per day demo power plant which will convert bio-fuels into electricity utilizing W2 Energy's NT Plasmatron and Rotary Combustion Engine.

As previously reported, W2 Energy signed a Joint Venture Partnership with WH2 Luxembourg Holdings SA. The partnership calls for the marketing and joint development of W2's patented product lines throughout the European Union (EU) and Africa. Recently, both parties have agreed to amend the Agreement to include the Middle East and GCC. Specific products will include W2 Energy's NT Plasmatron, Grinder, SteamRay Engine, Multi-fuel Gas to Liquid Reactor, NT Plasmsatron Fuel (Bio oil/water/coal ignite) and The SunFilter Algae Bio Reactor.

Mike McLaren, W2 Energy President and CEO, stated. "This is a very exciting time for us at W2 Energy. It has taken several years for us to develop this relationship and get it to the point of where we can actually start manufacturing our product and have it successfully distributed throughout Europe." He also stated, "We now anticipate the ability to show consistent revenue streams as the various phases of the purchase orders are placed by WH2 in Europe."

(0)

(0)

Investors Hangout

Whats Hot