Xfuels Joint Venture Sales Up 180%
Area 2 Energy Gas sales increase from May Acquisition
DIDSBURY, Alberta, September 21, 2016 /PRNewswire/ --
Xfuels Inc. (OTC: XFLS) is pleased to report on Area 2 Energy progress.
July sales for Area 2 Energy were $75,817.33 with a summarized net operating income of $55,004.63. July sales increased by 180% from the May acquisition due to implementation of the capital plan and increased gas prices. August and September sales are on target as sales prices have hit highs of $2.70/GJ and futures show a continuing uptrend over $3.00/GJ through 2017 and 2018.
As per the news release of September 7th, 2016 Converde and Xfuels are implementing the capital plan to increase production through cash flow and shareholder financing from Converde for the immediate future. Once Xfuels has completed its S1 registration statement, as per the terms of the equity purchase agreement announced on August 30th, 2016, the company will continue increasing its investment into the field.
Mr. Michael McLaren states "The growth in revenue increases our bottom line and allow us to continue growing the business and implementing our technology." He further stated "The company continues to move forward on other profitable projects and having this consistent cash-flow allows us to effectively execute our venture upside projects."
The company continues to manufacture and test a demo 4-ton system at our Didsbury location which will produce about 500 gallons of fuel per day with the integration of the catalytic reactor portion of the system. Our engineers are satisfied with the performance of the upgraded reactor and proprietary power supply and look to begin testing the production of fuel at this time. The company is working in conjunction with government to implement the system in the field at their Atlee location.
About XFuels, Inc.
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 (Gas. Coal, 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 (firstname.lastname@example.org) 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.
For more information on Xfuels Inc. please see http://www.xfuels.com
Also you can visit us at Investors Hangout: http://investorshangout.com/Xfuels-Inc-XFLS-88175/
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.
SOURCE Xfuels Inc.