Planet Resource Recovery Chairman and CEO Issues Shareholder Update Letter
October 22 2009 - 11:50AM
Marketwired
Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY),
developer, manufacturer and marketer of PetroLuxus(TM) and other
green remediation and recovery technologies, issues shareholder
update letter from Kurt E. Neubauer, Chairman of the Board and CEO.
Dear Fellow Shareholder:
It gives me great pleasure to inform you that the summer months
of 2009 have been extremely busy with new advances in our new
technologies and endeavors. Years of development of our core
technology, PetroLuxus(TM), has opened the door to numerous new
green technologies and applications which will be environmentally
friendly and economically beneficial technologies that we
anticipate will change many of the existing technologies in the
remediation and recovery of commodities on a worldwide basis.
We originally launched Planet Resource Recovery with the goal to
develop and commercialize our green technology, PetroLuxus(TM), for
the recovery of hydrocarbons to the Oil and Gas Industry.
Throughout our R&D efforts on the development of PetroLuxus(TM)
we continually observed the effects of our experimental compounds
and lab processes on metals in heavy oil and other hydrocarbon
bearing materials. These observations, coupled with requests from
EPA contractors after the successful remediation of a contaminated
underground storage tank in Oreland, Pennsylvania, we embarked on
additional R&D efforts for the development of new green
technologies for the remediation and recovery of metals, heavy
metals and precious metals.
As we begin the final calendar quarter of 2009, our R&D
efforts in the remediation & recovery of metals is bearing
fruit. We have completed the first phase of the development of
compounds for the harvesting of metals and have devoted the last
few months in the development of the mechanical processes to prove
up our proof of concept. Our preliminary results have been very
encouraging which we are extremely excited about the development of
these proprietary compounds and processes as the remediation and
recovery of metals is a multi-billion dollar market.
PetroLuxus(TM)
We continue to deploy our PetroLuxus(TM) product through our Oil
Recovery Ventures, LLC subsidiary to the Oil & Gas industry. We
have been marketing the product to Oil & Gas operators for the
treatment of marginal oil wells in the US. We continue to realize
oil production increases and efficiencies in equipment performance.
Every well we treat is one more well to add to our growing list of
treated wells for validation of the effectiveness of PetroLuxus(TM)
for different formation types, depths and crude oils of marginal
wells.
On-Going Collaborations
We continue working with Cedar Marine Terminals, a subsidiary of
Vertex Energy, LP, to develop a compound and method to remediate
waste oil into a more environmentally friendly source of fuel.
Testing continues with successes as we develop and pilot special
blends of PetroLuxus(TM) to attain the stated goals. The creation
of a new platform to refine a new cleaner source of fuel from a
recyclable material will provide the company with a steady source
of revenue while additionally providing a much needed green
technology. As we progress we will issue update press releases.
We are excited about the developments that our technical
personnel have achieved on the experimental compounds and concept
design of new technologies for the recovery of base and precious
metals. We continued to collaborate with Gold and Minerals Company,
Inc., and El Capitan Precious Metals Inc. for the development of
green technologies to enhance the recovery of metals at their 7000
acre property in New Mexico. We feel we are well positioned in
these mining technologies with the soaring prices of commodities on
a global basis.
Our work in the development of remediation and recovery
technologies for metals has opened the door to other potential
markets. We are currently conducting preliminary testing and proof
of concept on green technologies to address the many toxic heavy
metals EPA Superfund sites that litter the nation and globally.
These technologies, once proven, can have a positive impact on our
planet and the recovery of commodity metals.
Personnel Changes
The Company has terminated Mr. Rick Burton's employment with the
Company effective September 16, 2009. The Company additionally
terminated Mr. Patrick Richard's employment agreement on September
1, 2009. Mr. Neubauer, Chairman of the Board and CEO, has been
reinstated as the company's President.
We re-allocated, contracted and expanded our technical research
staff to expedite our R&D efforts on the above stated new
technologies. These internal personnel allocations have bolstered
these efforts while adding creative minds to these new
technologies. Their progress has been remarkable and anticipate to
launch the commercialization of these technologies in the very near
future.
In closing, the future for Planet is extremely promising. We are
expanding from a company primarily focused in the Oil & Gas
Industry and Environmental remediation industries to a developer of
environmentally friendly technologies for the remediation and
recovery of the Earth's commodities and resources. We will continue
to generate revenues from our PetroLuxus(TM) product in the Oil
& Gas industry while we continue the development of
technologies for new applications in the remediation and recovery
of Earth's resource that represent multi-billion dollar markets. I
am very proud of what has been accomplished and look forward to the
deployment of these new technologies. On behalf of Planet Resource
Recovery, Inc., I personally want to thank you for your support and
confidence in our company.
Sincerely,
/s/ Kurt E. Neubauer
Chairman & CEO
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc (the "Company") has developed a
proprietary product known as PetroLuxus(TM). The Company
manufactures and markets PetroLuxus(TM) which represents a
disruptive technology for use in petrochemical industries.
PetroLuxus(TM) is comprised of a series of compounds with a wide
array of applications, all of which benefit from its unique ability
to dislodge hydrocarbons from organic and inorganic materials. The
Company's Phase I revenue approach is comprised of three distinct
business units: i) Environmental Remediation ("ER"), ii) Enhanced
Oil Recovery ("EOR") and iii) Strategic Business Combinations.
PetroLuxus(TM) is a "Green Technology." It is a non-toxic,
nonflammable and environmentally friendly method of separating
hydrocarbons from both man-made and naturally occurring materials.
PetroLuxus(TM) truly is a Disruptive Technology. It will disrupt
currently accepted best practices and change the way hydrocarbons
are being managed and harvested throughout the world. Founded in
2005, the Planet corporate offices are located in Houston, Texas.
For more information visit: www.planetresource.com or
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. Planet takes no
obligation to update or correct forward-looking statements, and
also takes no obligation to update or correct information prepared
by third parties that are not paid for by Planet.
Company Contact: Enrique M. Salinas III 281-996-5315 ext. 3006
Email Contact Media Contact: Rod Mitchell 281-350-5506 Email
Contact
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