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April 30, 2007 – ORANGEVILLE, Ontario, – Organic Recycling Technologies Inc. (“The Company”) (Pink Sheets: ORCY.PK) today announced that Mr. Ed Kroeker, President & CEO, has released his due diligence technical and business review of the past history of the Company concerning the agreements that were signed with the regional government of Chongqing, China and with Chongqing Jinxibeina Complete Equipment Imp & Exp. Co. for the construction of a waste conversion facility in the Chongqing region. These agreements were previously announced in News Releases dated August 17 and October 5, 2005. In his comments, Mr. Kroeker reported the following:
1. The Chongqing region is a good launching point for the China environmental technology market. It is geographically located in the centre of China and is currently the focus of national and international attention because of its proximity to the large “Three Gorges” hydroelectric project on the Yangtze River. This very large and heavily-polluted city has been designated by the Chinese central government for cleanup; substantial funds and incentives have been allocated to achieve this goal.
2. The original agreements have been expanded to include new agreements for the construction of 42 waste conversion plants in the Chongqing region.
3. HDR Engineering Inc. has completed their initial due diligence of the Company’s efforts and activities to date, including visits to sites selected for the first two facilities, and they are supportive of the Company’s contract and business strategies currently underway in Chongqing.
4. Following upon a recommendation from the engineering consultants, the Company is working to ensure patent protection of its technology in China before any engineering details are provided to the local partners and participants in these projects.
5. The Company is currently awaiting the supply of financial guarantees for the development and construction of the first plants. These financial guarantees will be issued by banking institutions acceptable to the Company; and
6. As part of finalizing the financing for the project, the Company plans to commission HDR to prepare a waste audit report and technical review in accordance with our established procedures for project development.
Mr. Kroeker stated the following in his remarks, “The time which has passed since the original announcements in 2005 has been used wisely to lay a strong foundation for business to be established in China. I also know, from my past environmental consulting experience, just how quickly this business can grow in the China market once the foundation is established. I am very encouraged by the fact that even before construction has begun on this project, we are already engaged in discussions regarding other business opportunities in the region including wastewater treatment and wind energy projects.”
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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