Planet Resource Recovery, Inc. has closed on an asset purchase agreement for the acquisition of new, innovative, eco-friendly technologies to remediate existing piping infrastructure. These technologies target the remediation and rebuilding of structural pipe “in place” thus significantly reducing the high costs associated with removal, replacement and downtime expenditures. PLANET has purchased the technology, including robotic intellectual property and proprietary pipe lining blends from Inspar Field Services, LLC to remediate and extend the life of pipes to save associated pipe replacement costs and maintenance. The cost of the acquisition of the assets was 15 million shares of PLANET’s restricted common stock.
Enhanced oil recovery treatment using PetroLuxus MMMF on oil wells in Texas results in increased extraction of 300 percent
Oil Recovery Ventures, LLC, developer, manufacturer and marketer of the PetroLuxus family of products, has received results from the first phase treatment of oil wells in Central Texas. The first phase treatment with PetroLuxus MMMF increased oil extraction production by over 300 percent. Oil Recovery Ventures has schedulled second phase treatment to commence in order to continue Enhanced Oil Recovery treatment.