Planet Resource Recovery, Inc. Announces Expansion Initiative to Increase Capacity
May 08 2007 - 1:02PM
Business Wire
Planet Resource Recovery, Inc. (Pink Sheets:PRRY), developer,
manufacturer and marketer of the PetroLuxus� family of products,
announced today that the Company has launched an aggressive
initiative to immediately bolster production capacity. Current
anticipated demand for the Company product line has resulted in the
Company�s need to accelerate expansion plans. The Company has
commenced the search for temporary facilities to house additional
units while simultaneously commencing a search for approximately 30
acres of land to construct a permanent facility to meet all future
demand for PetroLuxus�. Since the launch of commercialization of
PetroLuxus�, numerous oil & gas industry veterans have
approached the Company to develop specific blends of PetroLuxus� to
address unique problems in niche markets that make up the Oil &
Gas industry. In addition to previously identified markets,
PetroLuxus� has demonstrated effective results in the treatment of
Utah tar sands, oil-based drilling muds, desulphurization of crude
oil, paraffin treatment and control, and jet fuel & aviation
fuel treatments. The new applications have greatly increased market
demand from end-users to effectively treat problems in these areas.
Management�s strategic plan to address increased production
capacity immediately calls for the construction of four to six
additional production units to be housed in temporary facilities.
Design plans for permanent facilities call for an initial building
of 30,000 sq. ft to house twenty production units that will
generate approximately $100 million of PetroLuxus� products on an
annualized basis. The current building design allows for a scalable
plan to bring the units on-line in a systematic manner. The Company
has begun the search for a property that will accommodate ten
production buildings in total, along with administrative offices.
Planet Resource Recovery, Inc.�s management is currently in
discussions with funding sources to capitalize these expansion
plans. Management will negotiate the best offer that limits
shareholder dilution to bolster shareholder value. Additionally,
the company has entered into talks with numerous specialty
equipment design and manufacturing companies in the Oil & Gas
sector to co-develop proprietary separation/treatment equipment for
specific niche markets. Each application is a multi-million dollar
market that PetroLuxus� blends can dramatically impact economically
and environmentally. These relationships will result in specialty
equipment designed specifically around PetroLuxus� for maximized
efficiencies in various niche markets. 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.
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