W2 Energy Establishes Solar Energy Subsidiary – W2 Solar |
Laurel, MD, March 6, 2009. W2 Energy, Inc., announces that as of March 1, 2009, it has established a wholly owned subsidiary, W2 Solar, which will be designing, building, selling and deploying solar-based electricity and process heat systems throughout the world.
“W2 Energy is first and foremost a renewable energy company, and there is no energy more renewable than solar energy,” says Mike McLaren, CEO of W2 Energy. “Having W2 Solar as a part of W2 Energy enhances our company and our brand.”
David Freund, the President of W2 Solar, also serves as the Vice-President of Business Development for W2 Energy.
“W2 Energy was looking to make solar-based steam for our biomass-to-energy plants. We were also building our SteamRay steam engine to convert steam from our plants into electricity,” says Mr. Freund, President of W2 Solar. “We realized that we could make steam with concentrated solar energy and feed it directly into the SteamRay, without first going into a biomass-to-energy plant. That’s when W2 Solar was born.”
W2 Solar is developing several proprietary technologies in order to efficiently turn solar power into electricity and process heat. They are developing the SunCatcher line of parabolic solar collectors and heat exchangers to turn solar heat into steam, and also the Steam Ray line or rotary steam engines for turning that steam into electricity.
“We have some cutting edge technology at W2 Solar,” says Freund. “At a time when the United States and the world needs green energy and green jobs, we think our company will be a big part of the overall energy and economic solution.”
About W2 Energy Inc.
W2 Energy Inc. is a growing, publicly traded company that develops renewable energy technologies and applies it to new generation power systems. Specifically, W2 Energy Inc.’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.
About W2 Solar
W2 Solar develops, builds, sells and deploys solar energy technologies worldwide. W2 Solar uses SunCatcher brand solar collectors, heat exchangers and steam generators, and SteamRay brand rotary steam engines, to generate steam, process heat and electricity from solar energy.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, statements are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted projections. These risks and uncertainties include, among other things, energy market volatility, product demand, market competition, and risk inherent to the company's research and development operations.
For further information, please contact W2 Energy Inc.