SOURCE: Converde Energy USA, Inc.

May 28, 2015 08:20 ET

XFuels LLC Is Acquired by Converde Energy

XFuels Team, Joint Venture Projects and Branding Are Integrated

PORTLAND, OR--(Marketwired - May 28, 2015) - Converde Energy USA, Inc. (OTC PINK: XFUL), today announced the completion of the purchase of XFuels, LLC, for 500,000 shares of the company's capital stock. This acquisition positions the combined company as a clear leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve life on our planet.

XFuels LLC brings with it an active 50/50 joint venture project for the sale of a $6M energy system producing 1MW of power with JV Partner, Metalwork & Stamping, S.A. de C.V., with facilities in Saltillo, Coahuila, and Monterrey, Nuevo Leon, Mexico. XFuels has collected a deposit totaling $460,000 which paid for engineering design, project planning, and associated project travel expenses. The balance of approximately $2,500,000 is due later this year.

The new combined company will adopt the XFuels brand identity (OTC PINK: XFUL) and be headquartered in Portland, Oregon. Since the joint relationship agreement came under discussion, the two companies have been preparing an assimilation plan for efficient integration of operations. The plan is now substantially complete, and the integration of the companies will begin in concert with this announcement and press release.

XFuels President and Chief Operating Officer, Isaac Benjamin Voss, who will lead the new company, said the combination of the two companies "strengthens our resolve and our ability to deliver on low cost best-in-class modular carbon-neutral energy systems, capable of converting nearly any carbon-based materials -- from coal to woody biomass -- into reliable low cost electricity and petrochemical-equivalent fuels." Mr. Voss has spent the last six years as a global brand advocate for clean energy companies, via his leadership role at Cleantech Venture Capital, successfully sourcing clients from his travels to India, China, and throughout Mexico. Mr. Voss was responsible for establishing a Latin American presence for the firm, overseeing the architectural design and completion of XFuels offices and energy facility footprint in Monterrey, Mexico, in 2014, which will help serve as a base for further expansion of combined company operations throughout Mexico and beyond in the coming years.

"As the world moves closer to not just acknowledging the importance of the health of our planet, but also taking action to ensure the energy we create today supports a clean planet tomorrow, XFuels is uniquely positioned with solutions for both," Voss commented. "Supported by a strong portfolio of research and development, with multiple highly credible third-party validated studies, our customers and partners will enjoy industry leading return on investment while practicing environmentally responsible solutions implementation."

"The completion of this acquisition is a significant step forward and enables us to execute on our long-term vision of bringing value to our clients and partners via the combined strength of our companies and teams," said Mike McLaren, CEO of Converde Energy USA, Inc. "With reliable and efficient low-cost energy systems priced below our competition, we have an attractive answer for small to mid-size industrial power and fuel users, who can reduce their energy costs and their carbon footprint with our modular XFuels systems."

The new company website can be found at www.xfuels.com.

About XFuels

XFuels (OTC PINK: XFUL) The CleanPetroleum & Power Company™, is a publicly held energy company based in Portland, Oregon USA, established to design, build, and operate regionally-integrated, small-to-midcap electricity and petroleum production facilities. XFuels is a leader in carbon-neutral energy solutions, as well as providing water and food technologies specifically designed to improve life on our planet.

The company's legally-defensible (patented and patent-pending) IP delivers one of the highest energy yields (electricity at sub-5 cents per kWh, and diesel fuel profitable at $25 a barrel oil -- without government subsidies), from a broad range of carbon-bearing inputs (forestry, agricultural, and urban waste -- including municipal solid waste and plastics), with one of the lowest capital expenditures of any known energy production method. Literally, Garbage-To-Gas.™

XFuels offers a range of low cost attractive modular systems via its hydrocarbon biorefinery platform (the XRefinery™), which produce low cost electricity and advanced petroleum-equivalent fuels and chemicals in partnership with select small to mid-size industrial energy users (info@xfuels.com) in target markets.

CleanPetroleum™ chemicals and fuels have the same molecular composition as traditional petroleum, offer premium performance with NEAR-ZERO environmental footprint, and face very few hurdles to full market penetration in today's existing petroleum vehicle fleet and distribution infrastructure. To learn more, visit www.xfuels.com or email info@xfuels.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., (and/or Converde Energy USA, Inc., and/or XFuels, LLC) its/their directors or its/their 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 (and/or that of Converde Energy USA, Inc., and/or XFuels, LLC) 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 (and including the brand names "Converde Energy USA" and "XFuels") filings with the Securities and Exchange Commission.

Contact Information

  • Contact Information:

    Media Contact:
    Isaac Benjamin Voss
    XFuels, LLC
    ike@xfuels.com
    +1 (971) 800-1601

    Investor Contact:
    Mike McLaren
    Converde Energy USA, Inc.
    mikem@converdeenergy.com
    +1 (519) 800-7556