HOUSTON, TX--(Marketwire - May 21, 2010) - Planet Resource Recovery, Inc. (PLANET) (
Dear Shareholder:
Since the tragic explosion aboard the Deepwater Horizon Drilling Rig and the resultant disastrous oil spill in the Gulf of Mexico, PLANET has been inundated with an overwhelming amount of emails, calls and communications from shareholders requesting information on how we intend to get involved in clean up. Let me assure you that since the event we have been working on a complete solution to address all phases of the oil clean up: marine, beaches, wetlands and equipment.
The advantage that we have is that we have developed PetroLuxus™ and other eco-friendly technologies to address these issues. Knowing the vast capabilities of PetroLuxus™ in the remediation of hydrocarbons and its cost-effective nature gives us a leg up.
At present the technologies being utilized in the Gulf are aimed at dispersing the oil with the hope of rendering smaller molecules for nature to breakdown. We believe this approach to be misguided. While the oil is dispersed and not as visible on the surface, it still exists! Out of sight, Out of mind! Due to the dispersants, the oil plumes now resides at varying sea depths in the Gulf as they either: slowly migrates to the ocean floor -- killing marine life along the way and wiping out the fertile spawning beds of crustaceans -- or waiting to migrate and be propelled by currents dropping the problem elsewhere.
Our development of PetroLuxus™ was aimed at creating an environmentally friendly, cost-effective product to remediate and recover hydrocarbons. Unlike technologies currently being used, our goal has always been RECOVERY! This has been accomplished. The challenges we faced after the sinking of the Deepwater Horizon were deployment and processes to have a positive impact on the cleanup efforts.
Shortly after the sinking of the Deepwater Horizon and recognizing that crude oil leakage was imminent, I instructed my engineering and scientific staff to develop methods for the deployment and recovery of crude oil using PetroLuxus™. The methods for the oil slicks and plumes are very ingenious and will only work with PetroLuxus™. The beach cleanup methods relied on identifying "off-the-shelf" equipment that could be adapted to use PetroLuxus™ for their deployment. My staff met their target of devising the necessary procedures for presentation to PLANET's partners and other resources.
On May 10, I assembled an engineering team at our Houston corporate office to present our plan to our partners and resources. In addition to my engineering staff and Ken Wolcott, Planet's petrochemical engineer, the team consisted of Jonathan Brewer, CEO of Earthworks USA, from Odessa, Florida, Bert Davi from MidWest General Contractors, Gregg Orrell from Lancer Industries, an oil gatherer, Emil Pena from The National Corrosion Center and others. The parties involved contributed greatly to our combined efforts to develop a strategy to deploy PLANET's technologies.
Shortly after our meeting, all parties involved went to work placing calls to contacts and resources to schedule meetings to present our plans. Early Wednesday, the Planet team traveled to New Orleans and spent four days in earnest attempting to meet officials from British Petroleum to discuss our strategies for cleaning up the huge oil spill off the coast. After four days, it became obvious to us that both BP and elected government officials were not talking with anyone. There were many technologies in New Orleans attempting to vie for BP's attention. None thus far have made any progress. The Planet team did however, finally meet with a group where we were finally able to discuss our proposals and showcase our technologies. Planet has since been informed our products have been tried with success and we have been requested to make a return visit to New Orleans with the next ten days.
In closing, our activities over the past few weeks have been devoted to showcasing PetroLuxus™ and it many benefits. We will continue to pursue every path to help with the cleanup efforts in the Gulf. We at Planet are very close to the fallout from this tragic event. Most of us either live near the coast or at the very least enjoy the bounty that comes from the Gulf. The thought of the Gulf of Mexico being polluted from this oil spill has really hit close to home. Our efforts are not just to clean up the spill but to preserve the sea life. The thought of never eating fish, shrimp, crabs or oysters from the Gulf is a terrible thought.
I appreciate your continued support. I look forward to providing you with our progress reports.
This shareholder letter and additional information is also available as an audio update at PLANET's website -- http://www.planetresource.net/Audio/Gulf_Oil_Update_052010.wma
Sincerely,
Kurt E. Neubauer
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.
Contact Information:
Media Contact:
Rod Mitchell
281-350-5506