Shares of W2 Energy Inc. (PINK: WTWO), a developer of renewable energy technologies, are soaring in trading today.
At last check, WTWO shares were trading 31.58% higher at $0.0075 on above average volume of 10.05 million. The stock has now gained more than 166% in the last three trading sessions.
W2 Energy last week announced that it is in the final stages of completion for its recently acquired Bio-diesel plant. WTWO acquired a fully operating turn-key bio-diesel plant from Agri-Green Biodiesel Inc. Following the acquisition, the plant was successfully transported to WTWOâ€™s 23,000 sq.ft. manufacturing facility in Guelph, Ontario last month.
The plant is expected to be fully functional and operating by August 1, 2012, WTWO said last week.
Mike McLaren, President and CEO of W2 Energy, said that this is a very exciting time for WTWO and its employees, and the company is extremely confident that this quarter will be the first time it will have the ability to produce a revenue stream which will take it out of research and development stage category and place it in the manufacturing and production industry.