US based W2 Energy has signed a joint venture partnership (JVP) with W2H Luxembourg Holding, Europe, to jointly market and develop W2’s patented products.
Under the agreement, marketing and development of W2 Energy’s products like NT Plasmatron, Grinder, SteamRay Engine, Multi-fuel Gas to Liquid Reactor, NT Plasmatron Fuel (Bio oil/water/coal ignite) and The SunFilter Algae Bio Reactor throughout the European Union (EU) and Africa are included.
W2 Energy president and CEO, Mike McLaren said the expansion of W2 Energy into the European and African markets, under the leadership of W2H Luxembourg Holding SA , will ensure W2 the exposure and marketability it needs in order to enter the European market.
"Based upon certain business developments and initial orders stemming from Europe, we are very excited at the prospects this new partnership brings to W2 Energy in the form of consistent revenue streams," said McLaren.
The first order for W2 Energy’s JVP will include upgrading the Bio-mass power plants across Europe using its patented technology.
The JVP will also give $120,000 to develop W2’s Hydrogen powered rotary engine, and sell 100 of these engines in the European market for a value of $4m.
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By GlobalDataW2H has also committed $150,000 to modernise W2 Energy’s combustion engines for many palm oil plants in Germany and it plans to retrofit 5 engines initially at a cost of $300,000 in April 2012.
W2H Luxembourg is a holding company committed to renewable energy technologies and under the agreement it holds many proprietary rights to W2 Energy’s mass-to-energy technology.
This technology converts any hydrocarbon feedstock into electricity and liquid fuel and also filters harmful byproducts and it also results in fuel out of greenhouse gases.
