Attached files
file | filename |
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EX-10.1 - SNRG CORP | ex10-1.htm |
8-K - SNRG CORP | snrg8k102009.htm |
Exhibit
99.1
SNRG
Corporation Announces License Agreement
November 3, 2009 – SNRG
Corporation (Pinksheets: SNRG) announced this morning that the Company has
entered into an exclusive North American technology agreement with Vega Invest
AG d/b/a Enviropark Global AG for advanced waste processing and materials
recovery technologies.
The
agreement grants the Company all North American rights to the Enviropark concept
and related technologies. The Enviropark model brings together a matrix of waste
streams that create an economically viable combination of revenue from tipping
fees and the sale of recycled materials on the upstream side of gasification and
revenues from materials and products derived from the syngas and inorganic
liquids produced from the gasification of a blended waste
feedstock.
According
to the Chief Executive Officer of SNRG Corp., D. Elroy Fimrite, “In the
evolution of manufacturing we have had magnificent developments in the creation
of useful products from virgin materials, but we have not been as creative in
recapturing these materials after the product life expires. We not only bury and
incinerate most of these products, but we bury and incinerate by-products and
waste resulting from the processes leading to the manufacture of the products.
The Enviropark technologies focus on producing virgin materials from all of the
waste generated in making and consuming these products.”
“The core
technology of the Enviropark model is gasification, a process where materials
are heated to extremely high temperatures in a sealed vessel without enough
oxygen to allow combustion. In this process all inorganic materials such as
metals, sand and rock, melt and are recovered as liquids and all organic
materials are converted to a gaseous state, with the largest component being a
synthesis gas composed mostly of hydrogen. The syngas is a basic petrochemical
feedstock usually derived from reforming methane and is the derivative feedstock
for a very large number of products we use every day, added Mr.
Fimrite.”
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 facilities
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 its 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.
Investor
Relations Contacts:
Mr.
Christian Hansen, Market Specialist
|
Mr.
Jim Elbert
|
Equititrend
Advisors, LLC
|
Destiny
Focus Consulting Inc.
|
800-585-6988
|
630-847-4255
|
Authorized
by:
D. Elroy
Fimrite
President
& CEO