Converde Energy 2104 Year End Shareholder Update
30 December 2014 - 4:15AM
eTeligis
CAMBRIDGE, ON(Eteligis Inc.)
CAMBRIDGE, ON, Canada, via ETELIGIS INC., 12/29/2014 - -
Converde Energy USA Inc. Formerly W2 Energy, Inc. (OTC Pink: WTWO)
(PINKSHEETS: WTWO), is pleased to report on the year end 2014.
Revenue
Management is pleased to report the company has had its best
year financially to date and will be reporting in excess of
$200,000 in collected income. 2015 will be stellar year for the
company as we begin to realize income from the various purchase
orders and sales of biofuel from our plants.
Biodiesel Plant Progress
As reported in our last press release of June 26th 2014 certain
upgrades were needed for the plant, we have now completed the first
phase of installation of the upgrade to the plant. As reported
after hiring an outside consultant it was discovered that extra
equipment was needed to bring the plant up to a level where it
could produce ASTM spec biodiesel on a consistent basis from waste
vegetable oil. Starting in the New Year the plant will begin to run
small batches of fuel and begin to ramp up over the course of the
year. The plant will continue to operate as a batch mode system for
production. Once the plant is running at full capacity the company
will begin executing on its expansion plans.
Acquisitions
Our acquisition strategy continues to focus on the development
of technologies we acquired over the last few years when time and
money permit. Our strategy in 2015 is to bring these technologies
forward while remaining committed to our Joint Venture projects and
fuel production business. The company continues to pursue assets in
the green fuel production business as well as traditional energy
assets that fit our corporate vision. Coal tailings, coal waste
sites and stranded or distressed gas assets are still among our
target acquisitions.
Technology Advances
The company continues to concentrate on our coal water slurry to
clean liquid fuels and electricity production. Our biodiesel
production also plays a significant role in this product. The
company filed a patent which was published on December 8th 2014
"Method of separating solids using Bio-oils" PCT application WO
2014/190420 A
The company has now hired a 2 full time Masters degree level
Chemical Engineers, 1 full time Masters degree level Mechanical
Engineer and a full time CAD/CAM Engineer to work specifically on
the clean coal water slurry to liquid fuels and power projects.
During the first quarter we expect to add to our team an
electrical/electronic Engineer as well as an experienced project
Engineer.
We continue to work on the solar technologies and water turbine
technologies as well when time and funds permit. Our intent is to
fund the continued development of these technologies from cash flow
and government assistance rather than equity or debt investment at
this time. During the last few months we have also made several
advances in our plasma reforming technologies which the company
will also apply for patent in the first quarter 2015. Funding for
the intellectual property protection through patents will come from
shareholder loans and revenue.
Corporate Developments
Management made the decision in the last quarter to postpone the
audited financials until after year-end 2014 due to the fact of
financial delays. The Company felt it made sense to postpone until
after the year-end of 2014 as the year-end was quickly approaching.
Management will deliver audited financials to the shareholders now
for the years ending December 2013/2014 on or before the due date
in 2014.
We continue to move forward on the corporate rebranding strategy
and during the year changed the name of the company to Converde
Energy USA Inc. As part of this strategy we also filed for
trademark of "Converde" in the USA, Canada and the EU.
Sales
The companies hired during the 2014 year a Director of Business
development on a contract basis who is actively marketing a Joint
Venture opportunities for our fuel production systems. We continue
to pursue qualified partners and expect that 2015 will bring forth
several projects of this nature.
Website
Over the month of December we began to port over and merge the
W2 Energy Website into the Converde Energy website. Management
expects this to be complete in the first 2 weeks of January
2015.
About Converde
Energy
Converde Energy USA Inc. develops renewable energy technologies
and applies it to new generation power systems. Specifically,
Converde Energy'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 USA 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 Converde Energy USA 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 Converde Energy USA 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 Converde Energy USA Inc.'s filings with the Securities
and Exchange Commission.
CONTACT:
For further information please contact:
Converde Energy Public Relations and Shareholder Information
Converde Energy.
Phone: (519) 800-7556
Email: info@w2energy.com
SOURCE: Converde
Energy USA Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28706
- Link to submission on http://www.eteligis.com