Planet Resource Recovery, Inc. Enters into LOI to Acquire Fifty Percent Stake in Oil & Gas Process Equipment & Instrumentation F

  
    
  
  
    
      Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), developer, 
      manufacturer and marketer of the PetroLuxus™ 
      family of products, announced today that the company has entered into a 
      Letter of Intent to acquire a fifty percent interest in Pearland, 
      Texas-based RADA Technologies, Inc. Planet Resource Recovery, Inc., will 
      acquire its stake through a combination of cash and stock. The 
      transaction is anticipated to be closed by mid-May 2007, subject to 
      performance of complete due diligence by both parties.
    
    
      Founded in 2004, RADA Technologies, Inc., designs and manufactures 
      inventory management and custody transfer systems for liquid bulk 
      storage and distribution applications in the oil & gas industry. RADA 
      Technologies’ systems provide solutions for 
      the efficient handling of liquid and dry bulk products so that the 
      customer can minimize their losses and maximize their gains. In 
      addition, the company has developed solutions for its customers that 
      focus on liquid product integrity and quality. The company services 
      major oil & gas companies, commercial & general aviation facilities, US 
      Department of Defense, US Department of Energy, and National Aeronautics 
      and Space Administration (NASA) the Johnson Space Center – 
      Houston, Texas. For more information visit - http://www.radatechnologies.com/
    
    
      RADA Technologies, Inc. is an engineering and design based company that 
      provides operational and equipment based solutions to their clients. The 
      association of the two companies will provide the capability to expand 
      Planet Resource Recovery’s offering of 
      PetroLuxus™ to include equipment and 
      technology packages that are complimentary and proprietary to the use of 
      our products in a variety of enhanced oil recovery and remediation 
      markets.
    
    
      RADA Technologies is a profitable entity that has realized an annual 
      growth rate of over forty percent annually since inception in 2004. The 
      company is a member of the Houston Minority Business Council.
    
    
      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.