SNRG Corporation Announces Shift in Business Model
19 Outubro 2009 - 10:45AM
Marketwired
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
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