HOUSTON--(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.
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.