Planet Resource Recovery, Inc. and Affordable Bio Feedstock to Develop New Technology Utilizing PetroLuxus(TM) to Optimize Waste
May 28 2008 - 6:30AM
Business Wire
Planet Resource Recovery, Inc. (PINK SHEETS: PRRY), is pleased to
announce the collaboration between the company and Affordable Bio
Feedstock of Florida. The collaboration is aimed at developing a
process utilizing PetroLuxus� products for the separation and
recovery of oils from waste trap grease materials rendering an
affordable, marketable grease feedstock for biodiesel producers.
Planet Resource Recovery, Inc. will supply PetroLuxus� products,
technical advice and assistance on the design and development of
the process. Affordable Bio Feedstocks will develop and build the
modular process units. Affordable Bio Feedstock will own the
process technology and equipment. Affordable Bio Feedstock has been
in discussions with numerous domestic and international biodiesel
producers seeking an affordable alternative feedstock. To date,
Affordable Bio Feedstock has purchase commitments from Biodiesel
producers approaching 50 million gallons of raw feedstock annually
once the technology is developed and deployed. This quantity of raw
feedstock represents an estimated $25 million per year revenue
stream for Planet Resource Recovery, Inc. Rising commodity prices
for feedstocks have greatly hindered the growth of the once
burgeoning Biodiesel manufacturing industry. Surging raw feedstock
costs have halted the construction of new biodiesel plants and have
greatly narrowed margins of existing producers. A potentially
viable feedstock to replace current costly feedstocks is grease
trap grease commonly known as �brown grease.� Today brown grease
generators such as restaurants and food service facilities are
burdened with the costly handling and disposal of this waste
stream. These entities pay trap grease haulers to pump out grease
traps and haul off for disposal in municipal landfill sites. The
National Renewable Energy Lab estimates the US generates 495
million gallons of waste grease trap material yearly � which does
not include millions of gallons of waste grease captured at
municipal water treatment plants. Despite an abundant source of raw
material for fuel, no viable technology has been developed to
convert this trash into a marketable source of biodiesel feedstock
due to chemical and engineering challenges. Affordable Bio
Feedstock provided Planet Resource Recovery, Inc samples of brown
grease from different sources for testing to determine: the
quantity of oil in the raw samples and the potential recovery of
oil from these samples using PetroLuxus� products. Independent lab
tests verified that the two raw samples of brown grease contained
40% and 44% oil. After treatment with PetroLuxus� products,
utilizing minimal heat, it was verified that the recovery rate of
approximately 75% of the oil was realized. This high rate of
recovery makes the treatment of brown grease with PetroLuxus�
commercially viable resulting in an affordable bio feedstock for
biodiesel producers. 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. Currently,
PetroLuxus� is chiefly being deployed to the Enhanced Oil Recovery
market where increased oil production is being realized at 100 �
500% per treatment. Other applications under development include:
Oil sands, oil tank farm & marine ship cleaning, remediation of
oil spills & oil sludge pits, treatment of raw fuel feedstocks
for biodiesel, to name a few. For an audio/visual demonstration of
PetroLuxus�, click on the link
http://www.planetresource.net/index-21.html or
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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