W2 Energy Inc OTC and Cobal Chile, S.A. announce the formation of a joint venture to build two waste-to-energy plants which will each convert 40 tons of municipal solid waste (MSW) into electricity and 70 cetane synthetic diesel. The plants will use W2 Energy’s proprietary plasma technology and Cobal Chile’s expertise in developing waste-to-energy plants worldwide.
“These two plants will be the first of several waste-to-energy plants we will be developing with Cobal Chile,” says Mike McLaren, CEO of W2 Energy. “They have the kind of global vision and strong local connections that make them an excellent development partner.”
Jorge Reyes, Research and Development Director of Cobal Chile states, “W2 Energy provides the highest quality waste-to-energy technology. The efficiency of their plant designs allows us to create profitable projects that appeal to the municipalities and the investors.”
The joint venture will pay W2 Energy for design, construction, delivery and commissioning of the waste-toenergy plants, which will each produce approximately 100 barrels of synthetic diesel per day and will each have a 10 MW steam turbine for electricity production.
W2 Energy, as the technology partner, will retain 40% of the joint venture. W2 Energy will also receive a 2.5% royalty on synthetic diesel sales.
W2 Energy and Cobal Chile have formed this joint venture to promote and implement sustainable and renewable energy sources worldwide. Both companies use clean energy technologies to lower our dependence on polluting energy technologies.
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