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W2 Energy Inc. to Build Bench Scale Coal-to-Liquid Plant to Enter Into Diesel Fuel Market
Market Wire, July, 2007
W2 Energy Inc. (PINKSHEETS: WWEN) (FRANKFURT: WJD), a developer of Green Energy, is pleased to announce that it will build a bench scale coal-to-diesel plant at its Toronto facility. The purpose of the plant will be to allow W2 Energy to enter into a previously untapped market for the company. Until now W2 Energy has concentrated fully on its biomass-to-liquid fuel plants which continue to move forward as per W2 Energy's business plan.
Mr. Michael McLaren states, "We have received overwhelming requests to modify our technology to efficiently gasify coal as a sole feedstock. The officers and directors decided that it would be in the best interest of the company to answer that demand at this time in conjunction with the commercialization of the biomass-to-liquid fuel plant."
The plant will also act as a demonstration facility for new customers and potential partners to view company's unique plasma technology using coal as the feedstock.
The unit will also be used for as a blueprint for scale-up to larger coal-to-diesel plants. Since the company's revolutionary plasma technology is capable of zero CO2 production from the plasma assisted partial oxidization of coal this makes the W2 plasma reactor superior to other coal gasification technologies.
The technology is also smaller, more compact and requires less components than traditional coal gasification processes making the capital expenditure a fraction of the cost of competing technologies.
Mr. Michael McLaren states, "The United States has coal reserves with an estimated 268 billion recoverable tons. If there was the possibility to convert just 5 percent of there reserves to fuel this would equate to the existing U.S. crude reserves of 29 billion barrels. The country could virtually double our nation's domestic motor fuel supply without drilling a single a well or building a new traditional oil refinery."
Coal-to-liquid fuel is already in use throughout the world, like South Africa, where it meets 30 percent of the country's transportation fuel needs.
In addition to being cheaper than oil, coal-to-liquid derived fuel is more environmentally friendlier than oil as the sulfur and contaminates are filtered out during the gasification process producing a pure hydrocarbon. The use of our nation's coal reserves to produce fuel would also greatly help in the country's goal to wean itself of foreign oil imports.
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.
For further information, please contact: W2 Energy Inc. info@w2energy.com www.w2energy.com