Converde Energy Receives Purchase Order and Initial Payment from BCL Mining and Smelting for 2.4 Million U.S. Dollars
19 March 2015 - 7:30AM
eTeligis
CAMBRIDGE, ONTARIO(Eteligis Inc.)
CAMBRIDGE, ONTARIO, Canada, via ETELIGIS INC., 03/18/2015 - -
Converde Energy (OTC Pink: XFUL) (PINKSHEETS: 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 companies
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
SOURCE: Converde
Energy USA, Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28171
- Link to submission on http://www.eteligis.com