| From: straight-->arrow | 10/29/2009 9:28:16 AM |
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SOURCE: Coastal Capital Acquisition Corp.
Oct 29, 2009 09:12 ETCoastal Capital Acquisition Corporation Announces JV Letter of Intent With W2 EnergyATLANTA, GA--(Marketwire - October 29, 2009) - Coastal Capital Acquisition Corp (PINKSHEETS: CCAJ) and W2 Energy (PINKSHEETS: WTWO) Sign JV Letter of Intent.
CEO of Coastal Capital Acquisition Corporation Tracy Anderson said, "I am pleased to announce I have signed a Joint Venture Letter of Intent with W2 Energy Inc. The scope of this joint venture is to design, construct and operate an Algae to Bio-diesel facility in the state of Florida. After discussions with W2 Energy we felt a JV partnership would be a great first step in utilizing Green Technologies as a way to grow value for the company and our shareholders."
W2 Energy has an all in one Algae production that grows, harvests, and dries Algae for use in the production of Bio-diesel. This technology also creates a valuable by-product in dried Algae for feedstock. W2 Energy is a manufacturer of green products and is looking to expand our Algae to Bio-diesel business. W2 Energy looks forward to working with Coastal Capital in this venture and the signing of a formal Joint Venture agreement in the near future.
Coastal Capital Acquisition Corp CEO Tracy Anderson also said, "We are presently in discussions with a particular property owner to execute a long term lease or purchase agreement for 2.5 acres in Florida. This property will house the facility we are looking to construct. I look forward to updating you, the shareholders, on our continued progress with W2 Energy and other joint ventures we are currently negotiating." |
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