Coastal Capital Acquisition Corp. announced that it has 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. 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.

Coastal Capital Acquisition Corp. announced that its board of directors has appointed Tracy Anderson to the board of directors as president and CEO of the company. The company accepted the resignations of Mr. Francis Manzo, Mr. Paul Joseph, and Mr. Wayne Pederson and appointed Mr. Greg Pasco as director, leaving one seat open for a later appointment.

Coastal Capital Acquisition Corp. announced that the appointment of two new CCAJ board members, Lance Berger and Tom Allinder: Mr. Berger is a highly respected and well known small cap consultant who has been working with public and private companies alike for over 15years. His specialties include strategic planning, investor relations, mergers and acquisitions. Mr. Allinder brings to the table many valuable years of merger, acquisition, media and investor relations experience in the small and micro cap arena.