HOUSTON, TX -- 10/19/09 --
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:
D. Elroy Fimrite
President & CEO
800-585-6988