SOURCE: W2 Energy Inc.

May 07, 2008 11:18 ET

W2 Energy Inc. Corporate Status Report

NEW YORK, NY--(Marketwire - May 7, 2008) - W2 Energy Inc. (PINKSHEETS: WTWO) (FRANKFURT: WJD) a developer of green energy, is pleased to announce a corporate status update.

Mr. Michael McLaren reports:

W2 Energy to pursue joint venture with Cobal Chile S.A

On April 23, 2008 the company announced the formation of a joint venture to build 2 waste-to-energy plants to produce 100 barrels of synthetic diesel per day each with Cobal Chile www.cobal.cl. W2 Energy will retain 40% of the equity as well as a 2.5% royalty on liquid fuel sales. Sales from the project are expected to be in excess of US$15 Million per year.

Cobal Chile is a global developer of Alternative energy projects specifically in the market of solid waste to energy.

Zelinsky Institute

September 26, 2007 the company announced it had engaged Zelinsky Institute of organic chemistry to develop a robust nitrogen tolerant solid catalyst. To date the company has received several progress reports and the project is on time and on budget. W2 Energy is presently building a bench scale GTL (GAS To Liquid) reactor to test the new catalyst formula, which will allow W2 Energy to generate liquid fuel from low grade or hydrogen poor syngas. The advantage of this is the reduction of components within the system to boost the hydrogen to carbon ratio, which will allow W2 Energy to scale the system to micro levels and directly run the GTL unit directly from the BPR reactor.

Projects

On July 26, 2007 the company announced their intent to develop a reactor capable of being powered by solar energy. To date the company is in negotiations with 2 different vendors, which have similar products that are believed to be capable of driving the reactor off grid. It is the intent of the project to power the reactor off grid for remote areas on a micro GTL level.

Financing

The company continues to entertain various financing opportunities. To date the company has been financed by insiders and arms length shareholders via restricted stock transactions. The company will continue this method of finance until it can find a suitable finance proposal that is best for the corporation and its shareholders.

Joint Ventures, Partnerships and Acquisitions

W2 Energy is actively pursuing joint venture partnerships and acquisitions. The company is in the process of negotiations with several potential partners for joint venture relationships. W2 Energy is also in negotiations with a few potential acquisition candidates and is presently evaluating the corporate synergy and technologies of these candidates. The company is aggressively pursuing acquisition candidates with technologies in the field of alternative energy production.

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.

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