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April 25, 2007 – ORANGEVILLE, Ontario, – Organic Recycling Technologies Inc. (“The Company”) (Pink Sheets: ORCY.PK) today announced that Mr. Ed Kroeker, President & CEO, has issued instructions to disseminate the second in a series of due diligence technical and business reviews of the past history of the Company and it is concerning the agreement that has been made with Foshan Public Utility Management in the Foshan region of Guangdong Province in China. This agreement was first announced in a news release dated June 16, 2005. Mr. Kroeker has summarized his review of subsequent business activities and decisions arising from that agreement with the following report:
1. The original agreement is still in place and the Company is continuing to pursue this project;
2. On the basis of a recommendation from Waste Consultants Ltd., the project has been put on hold temporarily while local political groups within the region get themselves organized in a way that will allow the project to move ahead efficiently;
3. The Company has been approached by a business group that has the full financing package for the Foshan project and which wants to complete the project as a joint venture; and
4. This same business group also has a wastewater treatment project in the Foshan Region which it has brought to the Company as part of the overall business plan for the region.
Mr. Kroeker stated the following in his observations:
1. The Company has followed a decision-making strategy which requires that the Company and its local business partner utilize the services of HDR Engineering, the Company’s arms-length engineering consultant, to complete a technical project report prior to any project going ahead. This technical report includes guarantees of debt and equity financing and ensures that the project will have a profitable internal rate of return once it goes into operation. This strategy is a powerful tool that provides the checks and balances necessary to ensure business proceeds in an efficient manner. The Foshan project illustrates the critical importance of this approach; and
2. Waste Consultants Ltd. clearly understands that the Company is only interested in the active pursuit of projects which can be delivered in a timely manner and where full project financing can be guaranteed.
In his concluding remarks, Mr. Kroeker stated, ”I am excited to see how quickly the China market is opening up for us in every sector of environmental technology; this has occurred in a short time span of less than two years since the first China business opportunity was announced in Foshan.”
For additional information and press releases about Organic Recycling Technologies Inc., visit the Company’s web site at http://www.ortechteam.com.
About Organic Recycling Technologies Inc.
Organic Recycling Technologies, Inc. is an environmental engineering solutions company that provides effective and sustainable waste management, recycling and reusable energy solutions to communities around the world. The Company’s mission is to exploit, integrate and implement leading waste management, recycling and reusable energy technologies with the objective of creating a cleaner and healthier global environment and capitalizing on profitable opportunities for its shareholders.
Forward-Looking and Cautionary Statements:
Certain statements contained herein, including, without limitation, statements containing the words "believes," "intends" and other words of similar import, constitute "forward-looking statements" within the meaning of Section 27A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Organic Recycling Technologies Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Organic Recycling Technologies Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments.
Please Contact:
Organic Recycling Technologies Inc
Toll Free: 877-419-0430
Web: www.OrtechTeam.com
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