HOUSTON - February 9, 2016 - Planet Resource Recovery, Inc. (PINK SHEETS: PRRY) announced today that the Company's CEO has issued a shareholder letter:
Dear PRRY Shareholders:
It is with great pleasure that I write to you today to share the successes and achievements that the Company realized in 2015. By changing our emphasis to the AquaLuxus Line for water well remediation, we have experienced tremendous acceptance and increased revenues from sales of AquaLuxus WC. This achievement in ground water solutions industry will propel the Company into 2016 and beyond on a firm financial footing.
AquaLuxus WC
We made significant strides with our AquaLuxus WC (Well Clean) product in 2015. AquaLuxus WC is NSF approved, biodegradable, non-toxic, drinking water approved, green technology. With its simple introduction into a water well, within a few days the bacteria, sediment clogging materials and smell are removed increasing water flow, water purity and longevity of the well. This treatment has a considerable cost savings over traditional water well remediation methods.
In late 2014 and early 2015, we began a large commercial water field test in New Mexico to prove the efficacy of AquaLuxus WC in irrigation wells. Many large commercial irrigation wells were treated with AquaLuxus WC to determine the initial and long term effects of the treatments. The wells were treated in the off season and monitored over the peak growing season when water is in the highest demand. The results after treatment showed water production improvements ranging from 50-400%. These water production increases were maintained throughout the peak growing season convincing growers of the value and effectiveness of AquaLuxus WC to their farming operations.
These results lead us into a sales agreement with Champion Seed Company, a 75 year old vegetable seed company to distribute AquaLuxus WC to the agricultural industry. The Champion Seed agreement is a milestone for Planet as it brings us a national distribution partner with sales representatives in the US and Mexico agricultural markets. For more information visit: www.championwellclean.com
In addition to the agricultural irrigation market, we embarked into the municipal and industrial well markets. At the end of 2015, the Mexican Water Commission, ConAgua, treated a municipal water well in Mexico City with the results "exceeding all expectation." Our AquaLuxus WC representative is currently negotiating with other cities for the AquaLuxus WC treatments.
Another testimonial was received from a Well Contractor in Cadillac, Michigan that was having difficulties maintaining the water production from a well that had been treated using traditional methods. After two failed attempts to rehabilitate the well, the well contractor used AquaLuxus WC to treat the well. He stated, "After redeveloping the well once again with vigorous swabbing methods, and your product [AquaLuxus], we removed a huge amount of bacterial growth and residual drilling mud. The well was brought back to 100% of the original capacity. The owner reported that after 6 months, the water was still free from the foul smell that was present before the treatment, and that the chlorine demand was reduced 70%."
PetroLuxus Products
During the first half of 2015 we had a strong focus in the Oil & Gas Industry. Our PetroLuxus� family of products has realized significant successes in Well Clean and Sludge Pit Remediation. Although the lower price of crude oil had an impact on the Industry, which had an impact on the Company. But we continue to grow sales.
R&D Pipeline
While we remain focused on marketing our AquaLuxus WC and the PetroLuxus� products, our Technical staff have been developing new chemistries and solutions for large companies in multi-billion dollar markets. These new chemistries and solutions are at varying stages of development and testing, but all are showing exceptional promise.
2016 Outlook
This year is extremely bright for Planet. The prospects for AquaLuxus WC in all water markets; agricultural, municipal, industrial and domestic are exceptional. We continue to receive stellar reports of increased water flows and well purity from AquaLuxus WC treatments. This is generating significant interest and sales for the product.
We continue to grow sales of PetroLuxus WC for the oil market. This is due to the fact that many oil companies have suspended their drilling operations and are in need of solutions to optimize their current oil production. PetroLuxus WC is the solution for production optimization.
We anticipate 2016 to significantly exceed all prior year sales. The fulfillment of the Champion Seed sales agreement alone will exceed all combined revenues for Planet since inception. These revenues will continue to fuel our growth into the future and build shareholder value.
Sincerely,
Enrique M. Salinas III