ORLANDO, Fla., June 16, 2010 (GLOBE NEWSWIRE) -- Freedom Environmental Services (Pink Sheets:FRDM) stated today an error was made in the previously announced contract with Northeast Biodiesel for the purchase of Freedom's reclaimed grease. Freedom anticipates collecting 30,000 gallons of grease per month initially, which will then be shipped to Northeast's existing processing facilities to be turned into biofuel and resold. Freedom is to receive $1.80 per gallon for the grease it collects from existing commercial clients.
Company president Michael Borish stated, "I'm excited about this new contract. While we can't guarantee how much grease we will actually ship to Northeast, we're estimating that we will start out with shipping around 30,000 gallons per month and scale up from there. I expect substantial growth in this segment of our business."
A spokesperson for Freedom noted the company is getting numerous inquiries about recycled grease for use in biofuel production. The company sees this contract with Northeast as validation of its "green" business model. This contract should substantially increase Freedom's revenue stream while it participates in saving the environment by recycling grease that would normally be discarded.
About Freedom Environmental Services
Freedom Environmental Services is a "Green" wastewater management company with its headquarters in Orlando Florida. Freedom provides the most comprehensive, cost-effective and reliable treatment systems and services. Freedom offers conventional wastewater treatment processes and systems, disinfection systems and cleaning contracts. Freedom's products and services are designed to help keep your water safe and clean and your company profitable.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. FRDM has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the FRDM's current beliefs and are based upon information currently available to it. Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the FRDM's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. FRDM undertakes no obligation to update or advice in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.