CAMBRIDGE, ON -- (Marketwired) -- 03/19/15 -- Converde Energy (OTC PINK: XFUL) is pleased to announce that it has received a $2,465,323.00 USD purchase order from BCL Mining and Smelting in Botswana, Africa to design, fabricate and install a demonstration plant that will use locally available coal to generate electricity and produce liquid hydrocarbon fuels.
The plant will use Converde's clean coal water slurry product using a modified burner in a conventional boiler and the company's Steamray Engines to produce 1MW of power. The CWS unit will produce 30 tons per day of clean CWS of which 4.8 tons per day will be used in Converde's NT Plasmatron and turned into syngas and ultimately into liquid hydrocarbon fuel using the company's proprietary gas to liquids reactor and catalyst.
The company has already executed and delivered the first phase of the project, which was a Basic Engineering Package that was delivered in December of 2014 and accepted by the customer. Converde was paid $150,000 USD for phase 1. For the following phase the company will be paid over the next 9 months every 2 months as per a predetermined cash flow plan. The target for a final delivery and commissioning is mid December 2015.
Michael McLaren, CEO of Converde Energy Inc., states, "We are excited to be executing on commercializing our systems. We are confident we will deliver the most robust, profitable cutting edge system in the market. Being able to utilize coal in a clean manner not only greatly reduces pollution derived from the use of coal fuels but will access a cheap and abundant form of carbon energy for many years to come."
For more information on Converde's latest technology and its recent name change please go to www.converdeenergy.com.
About Converde Energy, Inc.:
Converde Energy Inc. develops renewable energy technologies and applies it to new generation power systems. Specifically, Converde's plasma assisted bio-mass to energy plants, utilizing the state of the art technologies to produce green energy in both fuel (sulfur free diesel) and electricity at the most efficient cost in capital investment and production per/barrel, per/Megawatt. Converde Energy Inc. has seasoned management, cutting edge technology and owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
For more information on Converde Energy please see www.converdeenergy.com
Safe Harbor:
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of W2 Energy, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond W2 Energy, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in W2 Energy, Inc.'s filings with the Securities and Exchange Commission.
CONTACT:
Converde Energy, Inc.
Public and Shareholder Information
Email: ir@converdeenergy.com
