GUELPH, Ontario, March 12, 2012 /PRNewswire/ -- W2 Energy, Inc.
(OTC: WTWO) is pleased to announce that it is has signed a Letter
of Intent to acquire a 51% majority interest in Arctic Solar
Engineering, LLC ("ASE") from U.S.-based EGPI Firecreek, Inc.
(OTCBB: EFIR).
Arctic Solar Engineering, LLC integrates Solar Thermal Energy
technology patented over 30 years ago by Daimler Aerospace in
Germany. This technology is
effectively being used throughout Germany and other parts of Europe, Asia
and the Middle East. ASE's
competitive advantage is product knowledge and knowledge of how
water based energy systems work. ASE and its Solar Thermal Energy
Systems can be successfully implemented to reduce an average
building's energy consumption by up to 70%.
ASE's Solar Thermal Energy System was recently installed in the
Chesterfield, MO, City Hall. The
system consisted of 110 solar thermal arrays and an 8000 gallon
thermal mass energy storage tank, which has a name plate capacity
of 82 kilowatts and an estimated annual production of 110 megawatt
hours. Energy savings to the City are expected to pay back
100% of the City's investment within 7 years, which will eventually
equate to zero costs to the city for energy produced by the
system.
Fred Sussman, Arctic Solar
Engineering CEO, stated, "From the inception of our company, we had
the foresight to see that our technology would help establish a
significant importance in the way local, state and federal
governments looked at cost effective renewable energy sources and
energy conservation." He also stated, "We are excited at the
prospects of having W2 Energy's expertise and commitment in
expanding our presence in the water-based energy sector of the
market."
Mike McLaren, W2 Energy President
and CEO, stated, "We believe that Arctic Solar and its Solar
Thermal Energy Systems will be an excellent addition to our service
and product lines. By taking a majority interest in ASE, this
strategic acquisition will enable us to expand our business base,
while increasing our presence in the alternative energy market." He
also stated, "We are confident that acquisitions like ASE will be
an integral part in our Company's ability to show exponential
growth. We look forward to working together with ASE and its
management in order to effectively offer solutions to current
demands by federal, state and local municipalities, as well as
various commercial industries."
About W2 Energy:
W2 Energy, Inc. develops renewable energy technologies and
applies it to new generation power systems. Specifically, W2
Energy's plasma assisted biomass to energy plants utilize state of
the art technologies to produce green energy both fuel (sulfur free
diesel) and electricity at the most efficient cost in capital
investment and production per/barrel, per/Megawatt. W2 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 W2 Energy please see:
www.w2energy.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.
For further information please contact:
W2 Energy Public Relations and Shareholder Information
Mr. Joseph Vazquez
Phone: (754) 204-4549
Email: infinityglobalconsulting@gmail.com
SOURCE W2 Energy, Inc.