SOURCE: Planet Resource Recovery, Inc.

June 23, 2010 12:28 ET

Planet Resource Recovery, Inc. Becomes Equal Partner Through Licensing Agreement With Lerro Processing Group, LP

HOUSTON, TX--(Marketwire - June 23, 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 it has become an equal partner and entered into a licensing agreement with Lerro Processing Group, LP (LERRO). Recently formed, Lerro Processing Group, LP is comprised of industry veteran executives, including Mr. Gregory T. Orrell of Lancer Industries, Inc., who have serviced a large customer base of clients throughout the global petroleum refining, marketing and transportation sectors.

As an equal partner in Lerro Processing Group, LLC, PLANET will license its multiple technology platforms, including: PetroLuxus™ compounds as well as new chemical and mechanical technologies currently under development. PLANET will retain sole ownership of all its existing and any newly developed technologies which may be patented or remain as proprietary trade secrets.

LERRO will treat customer's crude oil, petroleum and other products with PLANET's technologies at either its company-owned facilities or those facilities owned by LERRO's customers. LERRO will also market and sell treated products directly to its customer base.

LERRO has identified numerous market segments where PLANET's technologies can be deployed. LERRO will immediately deploy PLANET's technologies in three specific markets: Desulfurization Technologies -- developed to reduce sulfur content from diesel fuel to meet Ultra Low Sulfur Diesel standards of 15 ppm or less as mandated by the Federal government; Skim Oil -- the recovery of oil from water; and refining of Number 6 fuel oil.

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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