SOURCE: Planet Resource Recovery, Inc.

April 29, 2010 08:00 ET

Planet Resource Recovery Acquires Innovative, Eco-Friendly "Sprayed in Place Pipe™" Technology

New Technologies Remediate Existing Pipe to Save Millions to Industry in Corrosion & Replacement Costs

HOUSTON, TX--(Marketwire - April 29, 2010) -  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, is pleased to announce that the company has closed on an asset purchase agreement for the acquisition of new, innovative, eco-friendly technologies to remediate existing piping infrastructure. These technologies target the remediation and rebuilding of structural pipe "in place" thus significantly reducing the high costs associated with removal, replacement and downtime expenditures. PLANET has purchased the technology, including robotic intellectual property and proprietary pipe lining blends from Inspar Field Services, LLC to remediate and extend the life of pipes to save associated pipe replacement costs and maintenance. The cost of the acquisition of the assets was 15 million shares of PLANET's restricted common stock.

Founded in 1996 by Mr. Kent Weisenberg, Inspar Field Services, LLC of Florida provides custom-engineered pipelining solutions to a wide array of global industry and market segments. PLANET's pipelining solutions acquired by Inspar rebuild existing pipes while addressing issues such as: internal pressures, soil loads, high heat, abrasives and chemical erosion. Mr. Weisenberg is the developer of numerous technologies utilizing robotic pipelining systems and applications that virtually eliminate any requirement for personnel to work in potentially unsafe and confined spaces. Inspar's intellectual portfolio which was purchased by PLANET consists of 7 US and Foreign patents with multiple new inventions in various stages of the patent process for the pipeline remediation marketplace.

The assets purchased from Inspar include innovative technologies serving diverse industries such as nuclear, coal-fired and gas-fired power plants, chemical and petroleum processing facilities, mining sites, fossil fuel transmission lines and facilities, public entities working on local, state, federal and international levels. Clients include General Motors, Pfizer, ConocoPhillips, XcelEnergy, Kiewit, Progress Energy, Entergy, Veolia, American Electric Power, PPG, Citgo, etc. For a complete overview and history of Inspar visit http://www.planetresource.net/pdf/inspar_abstract.pdf or http://www.inspar.com

PLANET has formed a new wholly-owned subsidiary, Inspar Robotic Technologies, Inc., to operate the assets acquired from Inspar. Mr. Weisenberg has been appointed President, CEO and Director of Technology Development of the new subsidiary.

Mr. Kurt Neubauer, President and CEO of PLANET, said about the acquisition, "The acquisition of Inspar's technology assets is extremely synergistic with PLANET. We believe that the combined technologies of Inspar and PLANET will provide a complete solution to corrosion mitigation and pipeline remediation to the marketplace. Utilizing PLANET's corrosion products to mitigate corrosion and then rehabilitating pipes with Inspar's technologies will provide the one stop solution. Additionally, Inspar's footprint and reputation within the industries opens the door for PLANET to offer its other products to Inspar's customers."

PLANET will provide additional detailed information on these technologies and market segments in the future.

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.

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