PRRY Planet Resource Recovery Inc (PK)

Planet Resource Recovery, Inc. (Pink Sheets:PRRY), developer, manufacturer and marketer of the PetroLuxus� family of products, announced today that the company has closed on its transaction to acquire a fifty percent in Pearland, Texas-based RADA Technologies. The acquisition terms were $90,000 and 48,500 restricted common shares of Planet Resource Recovery, Inc. RADA Technologies, Inc. realized revenues of $ 1,020,000 in 2006. RADA Technologies, Inc. is an engineering and design based company that provides operational and equipment based turn-key solutions to their clients in the oil & gas sector. Since 2004, RADA Technologies, Inc has provided engineering and consulting services, inventory management and custody transfer systems for liquid bulk storage facilities. The company services major oil & gas companies, commercial & general aviation facilities, US Department of Defense, US Department of Energy, and National Aeronautics and Space Administration (NASA) the Johnson Space Center � Houston, Texas. For more information visit - http://www.radatechnologies.com/. This strategic acquisition provides Planet Resource Recovery, Inc. with the knowledge, experience and customer base of RADA Technologies, Inc. This will allow us to expand the offering of the PetroLuxus� family of products. RADA Technologies capabilities to engineer new equipment and technology, coupled with PetroLuxus� will offer the oil & gas new cost-effective, eco-friendly platforms to address their needs. Engineering new technologies and equipment will expedite PetroLuxus� market penetration through the offering of complete proprietary package solutions to the industry. �The benefits of PetroLuxus� are numerous. The potential is enormous. This chemical will revolutionalize many aspects and applications of the oil & gas industry,� stated Robert Arias, President of RADA Technologies, Inc. �After interacting with Planet Resource Recovery, Inc management, we felt we could play a critical role in the deployment of the chemical throughout the industry with our engineering experience and customer base. PetroLuxus� can immediately address many issues our current customer base is experiencing.� Mr. Kurt Neubauer, President and CEO of Planet Resource Recovery, Inc. said, �This is an ideal acquisition for both parties. In essence, RADA Technologies will engineer the proverbial �razor�, while we provide the �razor blades� � PetroLuxus�. Our joint efforts will provide much needed solutions to the industry which will grow market penetration resulting in increased shareholder value.� About Planet Resource Recovery, Inc. Planet Resource Recovery, Inc. is an innovative PetroChemical/Oil Services company that has developed a proprietary, environmentally-friendly chemical that dislodges hydrocarbons in practically all-natural and man-made environments. The company�s flagship product, PetroLuxus�, and its derivative product lines have a strong affinity` and rapid dispersement qualities to break hydrocarbon chains on a molecular level for cost-effective remediation and recovery of petroleum products. The company�s prospective markets for remediation and recovery include: oil tank farm cleaning, marine ship cleaning, oil sludge pits, contaminated soil/oil spills, biodiesel, waste oil segregation, heavy oil, tar sands, and Enhanced Oil Recovery, to name a few. Planet Resource Recovery�s pilot manufacturing plant is fully operational with PetroLuxus� ready for commercialization. For an audio/visual demonstration of PetroLuxus�, click on the link below. http://www.planetresource.net/test76u31b.htm For more information please visit www.planetresource.net or http://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.