W2 Energy Buys Waste Destruction Technology

W2 Energy Inc., a developer of green energy, has purchased a mobile, plasma-based waste destruction system and associated intellectual property, known as the Parcon, from Blue Vista Technologies, Inc.

The Parcon is a transportable waste treatment facility that converts polychlorinated biphenyls, chlorofluorocarbons, chemical weapons, and explosives into more easily storable and, in some cases, saleable salts and liquids. Additionally, W2 Energy intends to modify the Parcon to convert hazardous waste into syngas to make liquid hydrocarbon fuels and electricity.

For the Parcon mobile waste treatment plant and the associated intellectual property, W2 Energy paid Blue Vista Technologies $50,000, payable in the form of a convertible debenture with a term of 24 months, convertible at the discretion of Blue Vista Technologies into common stock of W2 Energy at a price of $0.05 per share. W2 Energy will also pay the cost associated with repairing the asphalt under the area where the Parcon unit is stored. Blue Vista Technologies granted W2 Energy the Parcon intellectual property for all territories and countries worldwide, excluding Australia and Mexico. In addition to other payments made to Blue Vista Technology, W2 Energy will pay Blue Vista Technologies an annual license fee of $10,000 for each of these two countries if it uses the Parcon technology in those countries.

"We are thrilled to bring the Parcon technology into the W2 Energy family of technologies," says Mike McLaren, chief executive officer. "In addition to our core business of creating electricity and liquid hydrocarbon fuels from biomass feedstocks, W2 Energy will now be able to remediate, and in the future, make fuel and electricity from, almost any kind of hazardous waste.."

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