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October 23, 2007 – ORANGEVILLE, Ontario, – Organic Recycling Technologies Inc. (“The Company”) (Pink Sheets: ORCY.PK) is pleased to announce that significant progress has been made towards construction of the 42 waste management and conversion plants in the Chongqing region of China. Management of the Company has made numerous trips to China in recent months and as a result, the outstanding issues that were reported in previous news releases are all being eliminated. HDR Engineering Inc., acting as the Company’s engineering consultant, has been contracted to move these projects forward as well and as a result, HDR staff have made numerous trips to China in order to prepare the technical details needed to build the Chongqing projects.
Management is pleased to report that the Company has signed an agreement with Chongqing Hai Feng Construction Group, the 10th largest construction firm headquartered in the Chongqing region, to become a joint venture partner in this multi-plant project. This firm has the experience and resources to handle the construction, start-up and operation of each of the facilities being planned. Of equal importance, the firm also brings significant financial strength to the project consortium.
Ed Kroeker, President & CEO of the Company stated, “It is very exciting to see how quickly our presence and visibility are building in the China environmental business market. It illustrates the strength of our unique business approach which involves a total systems approach to solving today’s environmental crises with the use of leading edge technologies. This rapid growth that we are experiencing in the China market is now being duplicated in other regions of the world as well.”
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
Email: .(JavaScript must be enabled to view this email address)