SOURCE: Novo Energies Corporation

Novo Energies Corporation

October 14, 2009 03:00 ET

Novo Energies Corporation Provides Shareholder Update: Company's Progress and Strategy

NEW YORK, NY--(Marketwire - October 14, 2009) - Novo Energies Corporation (OTCBB: NVNC) ("Novo" or "Company"), a public company traded on the Over the Counter Market (OTCBB) under the symbol "NVNC," is pleased to provide its latest shareholder update, which includes Company news, industry related developments and growth strategy.

Corporate Update:

Over the past several months we were able to assemble an experienced and talented management and technical team with over 100 years of combined experience. Our Board of Advisors now includes previous members of the Canadian Parliament and United States Congress as well as an international energy expert.

We continue to educate and increase awareness about the importance of protecting and conserving the environment by recycling plastic and tire waste and intend to start participating in high profile events. In 2005, over 230 Million Metric tons of plastic was produced globally and this plastic market is growing at a rate of 7% per year (Source: Environmental Protection Agency.) It is estimated that in the United States only 4% of the plastic produced is recycled. Each year motorists in the United States generate about 1 tire for every man, woman and child in the country. This makes the total volume of scrap tires in the United States about 4,105,000 tons of tires equivalent or over 353 Million tires (Source: Rubber Manufacturers Association.) 12% of these tires are buried into landfills all over the country.

Novo Energies through its research has been able to identify, develop and assemble a technology that could successfully and economically transform plastic and tire waste into liquid fuel and fuel additives. Based on our in-house tests & independent lab results, we believe that the technology will be able to generate the following yield results for plastics and tires:

Plastic     Barrels     Litres     Gallons (U.S.)
1 ton           3.6        576               152
15 ton           54      8,640             2,286
30 ton          120     19,200             5,079


Tires       Barrels     Litres     Gallons (U.S.)
1 ton             2        331                 87
15 ton           31       4,960             1,312
30 ton           70      11,200             2,963

Novo is able to achieve the above yields while maintaining low cost of production and sustaining competitive prices when compared with other renewable sources of energy.

We are confident that our technical team will further improve our technology, and steer Novo towards reaching its business goals.

We continue to work with several potential strategic partners to start building our Pilot plants to recycle both plastics and tires. Our objectives are as follows:

1. Reduce: To reduce the amount of plastic and tires in landfills

2. Reuse: To recover energy from plastic and tires

3. Refuel: To generate clean and sustainable forms of energy and refuel our economy

We will keep our shareholders abreast on these developments. Our latest developments support our unique positioning as a source of solutions to address the major industry concerns -- how to help the environment, reduce waste and improve profitability.

Sincerely,
Antonio Treminio, CEO & Chairman

About Novo Energies Corporation: Novo is a public company trading on the Over the Counter Bulletin Board Market ("OTCBB") under the symbol NVNC, with offices in New York city, Montreal and Quebec city. The Company's mission is to continue expanding within the renewable energy sector by developing and implementing renewable energy solutions while maintaining its commitment to conserve energy, natural resources and help reduce pollutants and unwanted wastes. Based upon a novel technology, Novo's wholly owned subsidiary WTL Renewable Energy, Inc. will plan, build, own and operate renewable energy plants throughout North America that will transform residual plastics and tires to valuable liquid low carbon fuels such as diesel, gasoline and fuel additives.

Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on the Company's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors that the Company has little or no control. Such forward-looking statements are made only as of the date of this release and the Company assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in the Form 10-K of the Company for the fiscal year end August 31, 2008, and other documents filed from time to time by the Company with the Securities and Exchange Commission.

Contact Information

  • For more information, please contact:

    Mr. Antonio Treminio
    Chairman and Chief Executive Officer
    New York Tel: +1-212-315-9705
    Montreal: +1-514-840-3697
    Email: Email Contact