Planet Resource Recovery, Inc. Issues Progress Report on Affordable Bio Feedstock Collaboration
10 June 2008 - 9:00PM
Business Wire
Planet Resource Recovery, Inc. (PINK SHEETS:PRRY) is pleased to
announce a follow up to the press release on 5-28-08 regarding
collaboration with Affordable Bio Feedstock of Florida.
Representatives from both companies have joined together and
completed tests to evaluate processes and techniques for utilizing
Planet Resource Recovery, Inc.�s premier product, PetroLuxus�, for
separation and recovery of oils from trap grease and other sources
for waste grease. Tests have proven that a high percentage of oil
can be separated and recovered while providing residual water that
is environmentally friendly and reduces disposal issues. The most
recent tests and study have culminated in the design of a process
to be initiated with building the first plant to extract a quality
grease feedstock from waste trap grease. Affordable Bio Feedstock
has determined the plant location and has ordered the necessary
equipment to build their first grease extraction facility. The
company stated that it was on a fast track for construction of the
plant with the intention to be operational within thirty to
forty-five days. Waste grease sources have been established for
initial production and several clients for the finished grease
feedstock are committed. Discussions are currently underway to
develop a model that determines projections for production
requirements of PetroLuxus� beyond the initial phase of operation.
Plans are for Affordable Bio Feedstock to systematically expand the
initial plant capabilities and to build additional, strategically
placed facilities in other locations with waste grease resources
which will gradually increase their demand for PetroLuxus�
products. About Planet Resource Recovery, Inc. Planet Resource
Recovery, Inc. is the developer, manufacturer and marketer of the
PetroLuxus(TM) family of products, a proprietary environmentally
friendly chemical compound that dislodges oil in practically all
natural and man-made environments. The PetroLuxus(TM) family of
products are effective and efficient solutions for the remediation
and recovery of petroleum-based products. PetroLuxus(TM)
applications include Enhanced Oil Recovery, Oil Sands, oil spills,
oil tank farm cleaning, marine ship cleaning, remediation of oil
sludge pits, treatment of raw fuel feedstocks, waste oil
segregation and biodiesel, to name a few. Through the acquisition
and formation of wholly owned subsidiaries, Planet Resource
Recovery, Inc. deploys the PetroLuxus(TM) products. Oil Recovery
Ventures, Inc. deploys PetroLuxus(TM) through joint ventures in the
Enhanced Oil Recovery market. For an audio/visual demonstration of
PetroLuxus(TM), click on the link
http://www.planetresource.net/index-21.html For more information
visit: http://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.
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