Company to Focus on Stranded Gas Opportunities
CAMBRIDGE, ON / CRWEPRESSRELEASE / August 10, 2015 /Converde Energy USA Inc. (OTCMKTS:XFUL) (OTCMKTS:XFUL), is pleased to report that it will open a location in Calgary, Alberta Canada to exploit stranded natural gas opportunities in the area.
Converde has been working on different business opportunities in the conversion of stranded natural gas assets to liquid fuels. During this time the company has determined a large market exists in the area with low barriers to market entry.
Management has decided to expand the company into Alberta to maximize our exposure into the market. The company will set up a small system at the Alberta location for customer demonstrations.
CEO Mr. Michael McLaren will lead the expansion into Alberta and eventually concentrate Liquid fuel production systems and R&D in that location. Our Cambridge location will focus on Grinding systems, Grinder Manufacturing and contract grinding as previously announced on July 29th 2015.
Mr. Michael McLaren, CEO, states, “Our expansion into Alberta is an exciting time for us. After trying to develop opportunities over the last few years, we decided it would be best to take a ‘Boots on the ground’ strategy in the area.” He also stated, “Since the downturn in oil many opportunities exist for stranded wells that are not financially viable to run without such a high value proposition as gas to liquids. Converde has several opportunities in our sights and are looking to execute on those in the 2015 year.”
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 please see www.xfuels.com
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.
For further information please contact:
Xfuels Public Relations and Shareholder Information Xfuels Inc.
Phone: (519) 800-7556
SOURCE:Converde Energy USA Inc.