W2 Energy nears completion of its newly acquired biodiesel plant
W2 Energy Inc. announced it is in the final stages of completion for its recently acquired biodiesel plant. W2 Energy recently purchased a fully operating turn-key biodiesel plant from Agri-Green Biodiesel Inc. The plant was successfully transported to the company's 23,000-square-foot manufacturing facility in Guelph, Ontario, last month and is now near completion. W2 Energy expects to have the plant fully functional and operating by Aug. 1.
Current expectations are for the production of approximately 650,000 gallons of biodiesel per year with this plant which at today's current market value should be worth close to $3 million in revenues. Future plans for the plant will include a retrofit modification of the plant in order to increase its production by up to 1.2 MMgy. By increasing the productions capabilities the company expects to be able to double its revenue capabilities.