Converde Energy Shareholder Update
February 26 2015 - 9:38AM
eTeligis
CAMBRIDGE, ON(Eteligis Inc.)
CAMBRIDGE, ON, Canada, via ETELIGIS INC., 02/26/2015 - -
Converde Energy USA Inc. (OTC Pink: XFUL) (PINKSHEETS: XFUL), is
pleased to report on company progress.
Rebranding
Management is pleased to report the rebranding of the company is
almost complete and as of today the company has two more actions to
complete to finish the overall rebranding strategy previously
reported.
The company is also pleased to announce we have been granted
trademark protection on our name Converde in both the US and
European Union to date.
Sales
As reported in the 2014 yearend update the company has hired a
full time business development professional. The company is now in
the process of entering into several joint venture opportunities
which center around our offering of a 4-ton pilot plant for coal
slurries to liquids and electricity using our coal slurry product
as feedstock.
As these opportunities come to fruition we will report to the
shareholders the details of the transactions.
Ikindgom Joint Venture
Management reports that to date the company received a
$50,000.00 deposit on a $250,000.00 dollar purchase order to
produce a simultaneous grinding and oil extraction unit to extract
Cannabinoids and Terpenes from Hemp. Although Converde continued to
develop the machine, the company has lost touch with the principals
at Ikingdom. Ikingdom is now in default of further payment on the
project and has been notified by management of the default. The
company has also notified Ikingdom's management via email that it
will now source a new joint venture partner to continue the
project. Converde management believes in our technology and
expertise and is happy with the progress made on the unit to date.
The company will continue development on the product and will
report to shareholders any updates that may come available.
The company also plans to utilize the technology to
simultaneously grind and extract oils from algae sources as well as
a secondary technology, which allows further processing to extract
high value proteins for human consumption.
The company welcomes a new addition to our team a full-time
biochemical engineer who holds a masters degree in Biochemical
engineering from University of Waterloo. They will be in charge of
re-establishing the algae bioreactor project as well as overseeing
work on all levels of development with the oil and protein
extraction technologies.
Biodiesel Plant Progress
As reported in our 2014-year end press release we have begun
small runs of biodiesel to work out the start up issues. The
company will begin running full batches of fuel in the next few
weeks and will report on results and progress.
Corporate Developments
Management is now working on audited financials for 2014 and
will deliver on or before the due date as previously reported.
About Converde
Energy
Converde Energy USA Inc. develops renewable energy technologies
and applies it to new generation power systems. Specifically,
Converde Energy's plasma assisted bio-mass to energy plants,
utilizing the state of the art technologies to produce green energy
in both fuel (sulfur free diesel) and electricity at the most
efficient cost in capital investment and production per/barrel,
per/Megawatt. Converde Energy USA Inc. has seasoned management,
cutting edge technology and owns a large technology portfolio of
patents and know-how that has been extensively validated and ready
for commercial production.
For more information on Converde Energy please see
www.converdeenergy.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 Converde Energy USA 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 Converde Energy USA 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 Converde Energy USA Inc.'s filings with the Securities
and Exchange Commission.
CONTACT:
For further information please contact:
Converde Energy Public Relations and Shareholder Information
Converde Energy.
Phone: (519) 800-7556
Email: info@w2energy.com
Source: Converde
Energy USA Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28105
- Link to submission on http://www.eteligis.com