SOURCE: EcoPlus, Inc.

July 15, 2008 11:50 ET

South Carolina County Council Agrees to Negotiate With EcoPlus for Siting of Waste to Energy Facility

Company Intends to Maximize Use of Federal Grant and Loan Programs

CHARLOTTE, NC--(Marketwire - July 15, 2008) - EcoPlus, Inc. (PINKSHEETS: ECPL) announced today that is has received formal documentation of a unanimous resolution by the Berkeley County, South Carolina, County Council voted upon on June 28, 2008, "...authorizing the Berkley County Water and Sewer Authority to negotiate with EcoPlus, Inc. for the location of a Recycling/Waste to Energy Facility." The body of the resolution is as follows.

WHEREAS, Berkeley County Water and Sewer Authority (the "Authority") receives large quantities of fats, oils and greases ("FOG") from various haulers unloading from the restaurants of the Trident area; and

WHEREAS, the FOG results in significant additional cost and expense to the operation of the sewer and treatment facilities operated by the Authority; and

WHEREAS, EcoPlus, Inc. ("Eco") has developed a process by which it can receive the FOG from the haulers and convert the FOG into a solid containing significant energy for the generation of power from recycled materials; and

WHEREAS, Eco believes that (i) it qualifies for federally sponsored renewable fuels programs and (ii) it can relieve the Authority from a substantial burden of the treatment and processing of FOG; and

WHEREAS, the Authority and Eco are interested in pursuing the location of the recycling facility for FOG adjacent to existing treatment facilities of the Authority and to that end seek to enter into a letter of intent (the "LOI"') (i) to allow Eco and the Authority to negotiate either a long term ground lease or the purchase of land from the Authority and (ii) to allow Eco to enter upon the land and perform environmental assessment, geotechnical assessment, wetlands survey and similar due diligence.

NOW, THEREFORE, the Authority is hereby authorized to enter into the LOI with Eco for the purpose of determining the suitability of the lands for a FOG recycling facility on property owned by and adjacent to existing facilities of the Authority. PROVIDED, the Authority is not authorized to enter into any agreement for the sale or ground lease of such land without further permission of the Berkeley County Council.

Phil Hicks, President of EcoPlus. Inc., noted that, "Our patented technology for FOG conversion is unique and gaining profile, due to its ability to produce a high quality fuel. Should the siting phase and follow-on evaluations result in completion of a facility, EcoPlus intends to be owner-operator." Hicks continued by noting that "This project is within the footprint of the greater Charleston, South Carolina, area, and provides substantial opportunity for biofuel production and for increasing shareholder value for EcoPlus. We look forward to working with Berkeley County on the upcoming LOI and potential processing facility siting."

Forward-Looking Disclaimer

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such proclamations about the Company's future expectations, including future revenues and earnings, technology effectiveness and all other forward-looking statements be subject to the safe harbors created thereby. EcoPlus, Inc. is a development stage company that depends on outside resources to maintain its continuation. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Factors that may affect forward-looking statements and the Company's business generally include but are not limited to (i) the risk factors and cautionary statements made in the Company's NASD or SEC filings; and (ii) other factors that EcoPlus is currently unable to identify or quantify, but may exist in the future.

Forward-looking statements speak only as of the date the statement was made. EcoPlus does not undertake and specifically declines any obligation to update any forward-looking statements.

Contact Information

  • Contact:
    EcoPlus, Inc.
    Investor Relations
    Toll-free: 877-494-0064