Planet Resource Recovery, Inc Provides Update on Affordable Bio Feedstock Collaboration
August 18 2008 - 7:00AM
Business Wire
Planet Resource Recovery, Inc. (PINK SHEETS:PRRY) is pleased to
provide update on collaboration with Affordable Bio Feedstock (ABF)
that commenced on May 28, 2008. After representatives from both
companies jointly completed testing and evaluation of 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, ABF launched into the
construction of their pilot plant in July. To date, ABF is
approximately 75 percent completed and is estimated to be online by
mid-September 2008. ABF has designed and is constructing a pilot
plant to process 20,000 gallons per day of waste trap brown grease
in the Orlando, Florida area. Septic Tank companies collecting
brown waste grease from the food service industry, schools, hotels,
penitentiaries, etc. will now have a cost-effective solution to
dispose of their collected waste. Once treated with PetroLuxus and
processed in the pilot plant, ABF will be able to harvest the oils
to provide an affordable bio feedstock to the biodiesel industry.
Additionally significant is that the water with entrained brown
grease can be recycled as opposed to current costly disposal
methods. Based on market research, the State of Florida alone will
require approximately 110 plants to treat and process waste brown
grease. ABF�s technology has been developed solely around the
efficacy of PetroLuxus� and will be an additional revenue stream
for Planet Resource Recovery, Inc. Planet Resource Recovery, Inc.
representatives will meet with ABF at the end of August to execute
a long-term contract. Planet Resource Recovery, Inc. will work
exclusively with ABF for the treatment of waste brown grease in the
United States. 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. The company is currently
focused on the deployment of PetroLuxus(TM) products to the EOR
(Enhanced Oil Recovery) industry. Oil Recovery Ventures, Inc., a
wholly-owned subsidiary, 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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