Xfuels Inc. Shareholder Update
(firmenpresse) - DIDSBURY, AB -- (Marketwired) -- 08/16/16 -- (OTC PINK: XFLS) is pleased to report on company progress.
Our joint venture with Converde, Area 2 Energy is working well and producing cash flow. The company is now beginning to implement maintenance plans to increase production prior to the winter high season. It is expected that the first round of maintenance will increase production by 400-500 mcf per day, bringing our total production to 1,500,000 mcf per day. However, this is dependent on how well the wells respond to the repairs and once it''s done we will report final numbers.
Our team brought our new non-thermal plasma reactor up to temperature on natural gas this past week and it responded well. It was running at temperature for 48 hours without issue and now the next phase our team will integrate a catalyst bed to the unit to begin producing liquids. This phase is expected to be complete sometime in late September and we are looking to stay on schedule to implement the unit at the Area 2 facility in October.
We continue to concentrate our attention on sales and now we are in the progress of performing various testing on feedstock samples sent from customers in Europe, Canada and the United States.
We have almost completed a round of testing for coal from Slovenia and results are promising. The next steps the company will present our findings and move toward a pilot project, a combined CTL and power solution.
The company also continues to promote our grinding technologies and contract grinding facility and has been working on various contracts to produce specialty ground products for customers in Canada and the USA.
Converde Inc., our parent company, is presently in the process of applying for government fund to expand our GTL unit on the Area 2 site to a 40 ton per day plant once the pilot project is complete. The company is still collecting various government incentives like SR&ED (Science Research and Experimental Development) tax credits for this project and expect to continue into 2018.
Xfuels, The Clean Petroleum & 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 the quality of life on our planet.
The company''s (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. One of Xfuels'' technologies literally converts garbage to gas.
Xfuels offers a range of low cost attractive modular systems via its hydrocarbon bio refinery 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 () in target markets.
Xfuels Clean Petroleum chemicals and fuels have the same molecular composition as traditional petroleum, offer premium performance with NEAR-ZERO environmental footprint, and with easy integration to full market penetration in today''s existing petroleum vehicle fleet and distribution infrastructure.
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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 Xfuels Inc., its directors or its 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 Xfuels Inc.''s 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 Xfuels Inc.''s filings with the Securities and Exchange Commission.
Bruce Haase
RedChip Companies
Tel: +1 407-644-4256
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Datum: 16.08.2016 - 09:32 Uhr
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