Planet Resource Recovery, Inc. To Expand Manufacturing Plant; Increase Manufacturing Capacity by 500%
September 24 2008 - 7:55AM
Business Wire
Planet Resource Recovery, Inc. (Pink Sheets:PRRY), is pleased to
announce that the company has reached an agreement with the
landlord of the company�s manufacturing and R&D facility in
Pearland, Texas to expand the building space to accommodate
expansion of manufacturing capacity. The Landlord has commenced the
survey and retention of a contractor to add on approximately an
additional 8,000 square feet to the existing 5,000 square feet
currently occupied by Planet Resource Recovery, Inc. Additional
space will provide room for additional proprietary PetroLuxus�
manufacturing units that will increase capacity by 500 percent.
Planet Resource Recovery, Inc. currently leases 5,000 square feet
on approximately 1.3 acres in Pearland, Texas. The additional
manufacturing square footage will allow the company to increase
PetroLuxus� manufacturing capacity by 500 percent. Surveying and
permits are anticipated to be completed and acquired in the next 60
days. Construction of new additional square footage is anticipated
to be completed 120 days after surveying and permits. Once building
is completed, the company anticipates a term of 60 days to bring
additional capacity on line to provide PetroLuxus� products to the
growing demand. 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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