SOURCE: SNRG Corp.

October 19, 2009 08:45 ET

SNRG Corporation Announces Shift in Business Model

HOUSTON, TX--(Marketwire - October 19, 2009) - SNRG Corporation (PINKSHEETS: SNRG) announced this morning that the Company's Board of Directors has approved a significant shift in its business model and focus to operations that involve the implementation and redevelopment of advanced waste processing and materials recovery technologies. Specifically, SNRG has begun the necessary steps to acquire a facility that will be dedicated to developing, improving and operating advanced de-manufacturing technologies and services.

The operating facility, which SNRG has targeted for potential acquisition, is planned to receive and process a wide mix of waste materials for the purpose of extracting these material's core, or "virgin", chemical elements or materials component, and then returning and selling these recycled products back into the marketplace at a level of quality equal to -- and in certain cases superior to -- their virgin product equivalents.

SNRG plans to initially target those waste products whose recycled value justifies their extraction cost, and those for which the optimal usage is as a recycled material. SNRG's targeted facility, whose specific location and onsite improvements must remain confidential during the negotiation process, is hoped to ultimately provide SNRG with numerous revenue streams and steadily be transformed into the premiere producer of high-end, recycled materials in the U.S.

According to CEO of SNRG Corp. D. Elroy Fimrite, "The world is choking on waste and is simultaneously facing critical shortages of virgin materials. Many of the products used in society are carbon-based, and many are derived from oil and gas. Our planet has become inflicted with the 'end of life' waste stream of these products, and with the environmental pollution released during their production."

"All materials, organic and inorganic, that are being produced as a result of growing populations worldwide, are recoverable in the form of the basic chemical elements that they are constituted from. Long-term plans for SNRG involve acquisition and development of integrated technologies that will be utilized for the processing and recovery of virgin quality materials from all forms of waste: benign or toxic, organic or inorganic, solid or liquid, and hazardous or non-hazardous," added CEO Fimrite.

The Company is currently in negotiations to raise the necessary capital to execute on its new business model, and to complete the planned acquisition of the de-manufacturing facility; funds for which the Company does not currently have. Additional information on these activities will be made available as soon as is appropriate.

FORWARD-LOOKING STATEMENTS AND SAFE HARBOR STATEMENT:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "will," "plans," "hopes," "anticipated," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with the Company's business focus; the Company's ability to acquire its target facility(ies) and raise needed funding; the potential productivity of our proposed properties; changes in the operating costs and changes in economic conditions and conditions in the recycling and de-manufacturing industry and the unproven nature of such technologies and their commercial viability. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. SNRG Corporation 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 the Company.

Contact Information

  • CONTACT:

    D. Elroy Fimrite
    President & CEO
    800-585-6988