FORT WAYNE, IN--(Marketwire - 06/24/11) - Freedom Energy Holdings, Inc. (Pinksheets:FDMF - News) today provided an update to the Collective Recycling Agreement with Americans Investing In America, Inc. ("AIIA") and Alternative Energy Solutions, LLC ("AES"), both located in Michigan. Under the terms of the November agreement, each party will play a significant role in establishing a commercial process to collect oil in asphalt shingles and subsequently recycle the hydrocarbons into a reusable alternative energy source.
The agreement calls for Freedom Energy to work closely with AIIA to commercially develop this process which will recycle the shingles and extract the oil out of the shingles. The companies will in turn supply over 70 tons of recycled asphalt shingles to AES, who will be responsible for taking the separated oil and processing it into a recycled alternative energy source. The process will be utilizing a version of Freedom Energy's proprietary KC 9000® technology, which has been specifically developed to break down the shingle and separate the oil from the other aggregates.
"The opportunity to team up with industry leading companies in the shingle recycling and alternative energy sectors will provide significant economies and compliment several of our projects currently in place," stated Kistler.
"Moreover, the company has initiated discussions with several Canadian companies that have expressed preliminary interest in potential joint ventures and/or licensing opportunities. Further details will be made public as these discussions progress," Kistler concluded.
ABOUT AMERICANS INVESTING IN AMERICA:
AIIA is a network of entrepreneurs that promote sustainability through community and business-to-business partnerships stimulating environmental-friendly coalitions. Our goal is to create sustainability by development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Utilizing waste resources to create opportunities for local entrepreneurs creates new industries and quality jobs in our communities. It is our mission to develop local networks that will utilize indigenous waste products as a commodity; creating value and sustainable clean energy sources.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (Pinksheets:FDMF - News) is a publicly traded company that specializes in the identification and development of technologies with commercial applications in the energy industry sector. Presently, the company's primary focus is the commercial development of its proprietary , heavy oil technology, KC 9000® , a breakthrough technology which provides an effective and cost efficient system to enable heavy oil deposits to flow without heat. This pioneering technology is projected to revolutionize current recovery processes being utilized. The company is presently marketing KC 9000 through sales and licensing agreements to potential clients on a worldwide basis.
FORWARD LOOKING STATEMENT
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
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