Planet Resource Recovery (PK) (USOTC:PRRY)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Planet Resource Recovery (PK) Charts. Click Here for more Planet Resource Recovery (PK) Charts.](/p.php?pid=staticchart&s=NO%5EPRRY&p=8&t=15)
Planet Resource Recovery, Inc. (Pink Sheets:PRRY), developer,
manufacturer and marketer of the PetroLuxus™
family of products, announced today that the Company has launched an
aggressive initiative to immediately bolster production capacity.
Current anticipated demand for the Company product line has resulted in
the Company’s need to accelerate expansion
plans. The Company has commenced the search for temporary facilities to
house additional units while simultaneously commencing a search for
approximately 30 acres of land to construct a permanent facility to meet
all future demand for PetroLuxus™.
Since the launch of commercialization of PetroLuxus™,
numerous oil & gas industry veterans have approached the Company to
develop specific blends of PetroLuxus™ to
address unique problems in niche markets that make up the Oil & Gas
industry. In addition to previously identified markets, PetroLuxus™
has demonstrated effective results in the treatment of Utah tar sands,
oil-based drilling muds, desulphurization of crude oil, paraffin
treatment and control, and jet fuel & aviation fuel treatments. The new
applications have greatly increased market demand from end-users to
effectively treat problems in these areas.
Management’s strategic plan to address
increased production capacity immediately calls for the construction of
four to six additional production units to be housed in temporary
facilities. Design plans for permanent facilities call for an initial
building of 30,000 sq. ft to house twenty production units that will
generate approximately $100 million of PetroLuxus™
products on an annualized basis. The current building design allows for
a scalable plan to bring the units on-line in a systematic manner. The
Company has begun the search for a property that will accommodate ten
production buildings in total, along with administrative offices.
Planet Resource Recovery, Inc.’s management is
currently in discussions with funding sources to capitalize these
expansion plans. Management will negotiate the best offer that limits
shareholder dilution to bolster shareholder value.
Additionally, the company has entered into talks with numerous specialty
equipment design and manufacturing companies in the Oil & Gas sector to
co-develop proprietary separation/treatment equipment for specific niche
markets. Each application is a multi-million dollar market that
PetroLuxus™ blends can dramatically impact
economically and environmentally. These relationships will result in
specialty equipment designed specifically around PetroLuxus™
for maximized efficiencies in various niche markets.
About Planet Resource Recovery, Inc
Planet Resource Recovery, Inc. is an innovative PetroChemical/Oil
Services company that has developed a proprietary,
environmentally-friendly chemical that dislodges hydrocarbons in
practically all-natural and man-made environments. The company’s
flagship product, PetroLuxus™, and its
derivative product lines have a strong affinity and rapid dispersement
qualities to break hydrocarbon chains on a molecular level for
cost-effective remediation and recovery of petroleum products. The
company’s prospective markets for remediation
and recovery include: oil tank farm cleaning, marine ship cleaning, oil
sludge pits, contaminated soil/oil spills, biodiesel, waste oil
segregation, heavy oil, tar sands, and Enhanced Oil Recovery, to name a
few. Planet Resource Recovery’s pilot
manufacturing plant is fully operational with PetroLuxus™
ready for commercialization.
For an audio/visual demonstration of PetroLuxus™,
click on the link below. http://www.planetresource.net/test76u31b.htm
For more information please visit 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.