PRRY Planet Resource Recovery Inc (PK)

Planet Resource Recovery, Inc. (PINK�SHEETS:PRRY), developer, manufacturer and marketer of the PetroLuxus� family of products, announced today that the company has entered into a Letter of Intent to acquire a fifty percent interest in Pearland, Texas-based RADA Technologies, Inc. Planet Resource Recovery, Inc., will acquire its stake through a combination of cash and stock. The transaction is anticipated to be closed by mid-May 2007, subject to performance of complete due diligence by both parties. Founded in 2004, RADA Technologies, Inc., designs and manufactures inventory management and custody transfer systems for liquid bulk storage and distribution applications in the oil & gas industry. RADA Technologies� systems provide solutions for the efficient handling of liquid and dry bulk products so that the customer can minimize their losses and maximize their gains. In addition, the company has developed solutions for its customers that focus on liquid product integrity and quality. The company services major oil & gas companies, commercial & general aviation facilities, US Department of Defense, US Department of Energy, and National Aeronautics and Space Administration (NASA) the Johnson Space Center � Houston, Texas. For more information visit - http://www.radatechnologies.com/ RADA Technologies, Inc. is an engineering and design based company that provides operational and equipment based solutions to their clients. The association of the two companies will provide the capability to expand Planet Resource Recovery�s offering of PetroLuxus� to include equipment and technology packages that are complimentary and proprietary to the use of our products in a variety of enhanced oil recovery and remediation markets. RADA Technologies is a profitable entity that has realized an annual growth rate of over forty percent annually since inception in 2004. The company is a member of the Houston Minority Business Council. About Planet Resource Recovery, Inc. Planet Resource Recovery, Inc. is an innovative PetroChemical/Oil Services company that has developed a proprietary, environmentally-friendly chemical that dislodges hydrocarbons in practically all-natural and man-made environments. The company�s flagship product, PetroLuxus�, and its derivative product lines have a strong affinity` and rapid dispersement qualities to break hydrocarbon chains on a molecular level for cost-effective remediation and recovery of petroleum products. The company�s prospective markets for remediation and recovery include: oil tank farm cleaning, marine ship cleaning, oil sludge pits, contaminated soil/oil spills, biodiesel, waste oil segregation, heavy oil, tar sands, and Enhanced Oil Recovery, to name a few. Planet Resource Recovery�s pilot manufacturing plant is fully operational with PetroLuxus� ready for commercialization. For an audio/visual demonstration of PetroLuxus�, click on the link below. http://www.planetresource.net/test76u31b.htm For more information please visit www.planetresource.net or http://www.petroluxus.com "Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.