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.
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.
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.
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 http://www.converdeenergy.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:
Converde Energy Public Relations and Shareholder Information Converde Energy.
Phone: (519) 800-7556
Source: Converde Energy USA Inc.