Planet Resource Recovery's CEO Addresses Shareholders on Gulf of Mexico Clean Up
May 21 2010 - 9:24AM
Marketwired
Planet Resource Recovery, Inc. (PLANET) (PINKSHEETS: PRRY),
developer, manufacturer and marketer of PetroLuxus™ and other
"Green" technologies for the remediation and recovery of the
planet's resources, publishes letter to shareholders from CEO, Kurt
E. Neubauer, regarding PLANET's activities regarding the Gulf of
Mexico oil spill.
Dear Shareholder:
Since the tragic explosion aboard the Deepwater Horizon Drilling
Rig and the resultant disastrous oil spill in the Gulf of Mexico,
PLANET has been inundated with an overwhelming amount of emails,
calls and communications from shareholders requesting information
on how we intend to get involved in clean up. Let me assure you
that since the event we have been working on a complete solution to
address all phases of the oil clean up: marine, beaches, wetlands
and equipment.
The advantage that we have is that we have developed PetroLuxus™
and other eco-friendly technologies to address these issues.
Knowing the vast capabilities of PetroLuxus™ in the remediation of
hydrocarbons and its cost-effective nature gives us a leg up.
At present the technologies being utilized in the Gulf are aimed
at dispersing the oil with the hope of rendering smaller molecules
for nature to breakdown. We believe this approach to be misguided.
While the oil is dispersed and not as visible on the surface, it
still exists! Out of sight, Out of mind! Due to the dispersants,
the oil plumes now resides at varying sea depths in the Gulf as
they either: slowly migrates to the ocean floor -- killing marine
life along the way and wiping out the fertile spawning beds of
crustaceans -- or waiting to migrate and be propelled by currents
dropping the problem elsewhere.
Our development of PetroLuxus™ was aimed at creating an
environmentally friendly, cost-effective product to remediate and
recover hydrocarbons. Unlike technologies currently being used, our
goal has always been RECOVERY! This has been accomplished. The
challenges we faced after the sinking of the Deepwater Horizon were
deployment and processes to have a positive impact on the cleanup
efforts.
Shortly after the sinking of the Deepwater Horizon and
recognizing that crude oil leakage was imminent, I instructed my
engineering and scientific staff to develop methods for the
deployment and recovery of crude oil using PetroLuxus™. The methods
for the oil slicks and plumes are very ingenious and will only work
with PetroLuxus™. The beach cleanup methods relied on identifying
"off-the-shelf" equipment that could be adapted to use PetroLuxus™
for their deployment. My staff met their target of devising the
necessary procedures for presentation to PLANET's partners and
other resources.
On May 10, I assembled an engineering team at our Houston
corporate office to present our plan to our partners and resources.
In addition to my engineering staff and Ken Wolcott, Planet's
petrochemical engineer, the team consisted of Jonathan Brewer, CEO
of Earthworks USA, from Odessa, Florida, Bert Davi from MidWest
General Contractors, Gregg Orrell from Lancer Industries, an oil
gatherer, Emil Pena from The National Corrosion Center and others.
The parties involved contributed greatly to our combined efforts to
develop a strategy to deploy PLANET's technologies.
Shortly after our meeting, all parties involved went to work
placing calls to contacts and resources to schedule meetings to
present our plans. Early Wednesday, the Planet team traveled to New
Orleans and spent four days in earnest attempting to meet officials
from British Petroleum to discuss our strategies for cleaning up
the huge oil spill off the coast. After four days, it became
obvious to us that both BP and elected government officials were
not talking with anyone. There were many technologies in New
Orleans attempting to vie for BP's attention. None thus far have
made any progress. The Planet team did however, finally meet with a
group where we were finally able to discuss our proposals and
showcase our technologies. Planet has since been informed our
products have been tried with success and we have been requested to
make a return visit to New Orleans with the next ten days.
In closing, our activities over the past few weeks have been
devoted to showcasing PetroLuxus™ and it many benefits. We will
continue to pursue every path to help with the cleanup efforts in
the Gulf. We at Planet are very close to the fallout from this
tragic event. Most of us either live near the coast or at the very
least enjoy the bounty that comes from the Gulf. The thought of the
Gulf of Mexico being polluted from this oil spill has really hit
close to home. Our efforts are not just to clean up the spill but
to preserve the sea life. The thought of never eating fish, shrimp,
crabs or oysters from the Gulf is a terrible thought.
I appreciate your continued support. I look forward to providing
you with our progress reports. This shareholder letter and
additional information is also available as an audio update at
PLANET's website --
http://www.planetresource.net/Audio/Gulf_Oil_Update_052010.wma
Sincerely, Kurt E. Neubauer
About Planet Resource Recovery, Inc.
Houston, Texas-based Planet Resource Recovery, Inc. is the
developer, manufacturer, and marketer of unique, environmentally
friendly proprietary chemical compounds and processes that will
usher in a new paradigm shift in industry. The company is primarily
focused on three distinct sectors: 1) Oil & Gas Industry with
PetroLuxus™, 2) Remediation of mining toxic byproducts and 3)
mining of base and precious metals. The company has developed
multi-dimensional compounds and their related processes,
technologies and methodologies to provide these sectors enhanced
benefits and revenue opportunities. 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.
Media Contact: Rod Mitchell 281-350-5506 Email Contact A.S.
Austin Company 858-537-7439 Email Contact
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