Fort Wayne, IN (Marketwired) - Freedom Energy Holdings, Inc. (OTC: FDMF) today issued an update regarding the ELAS(Extraction of Liquid Asphalt from Shingles) Pilot Project.
In September 2013 it was determined that the ELAS process was eligible for an exemption from Michigan air permitting requirements pursuant to Michigan's pilot processes exemption (Michigan Air Pollution Control Rule 336.1283(1)(a)). The emissions from the exempt pilot process were also calculated as part of the evaluation and it was determined that none of the exclusions from air permit exemptions listed in Rule 336.1278 apply to the process equipment.
Once the permission was given for the Pilot Project to move forward, work began to create the first prototype for the ELAS process which includes a final review by the Michigan Department of Environmental Quality (DEQ). As of March 5, 2014 the Company is able to report that the Prototype has been built tested with excellent results. A request to schedule a final review date has been made with the Michigan DEQ in which the ELAS process will be examined from beginning to end and evaluated for air quality and waste management.
Brian Kistler, CEO, Freedom Energy Holdings, Inc, stated, "We have been looking forward to this day for almost a year now. Even though we have had the harshest winter with arctic temperatures and record setting snow levels, the crew working on the prototype has persevered through all of this to hit my deadline of mid March to be ready for the DEQ. So I am happy to report all systems go and full speed ahead."
"Looking forward, I am confident that we will be in full operation by the time the weather has broke and the roofing season is in full swing. Additionally, I am excited about preliminary discussions that I am having with several opportunities in a newly established market that will allow the Company to expand its focus and diversify our holdings. I will bring forth more information as it develops," concluded Kistler.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (OTC: FDMF) is a publicly traded company that specializes in the identification and development of technologies with commercial applications in the energy industry sector. Research has shown a completely new product SR-139 to be effective at breaking down asphalt shingles allowing the extraction and recovery of hydrocarbons. The company's original primary focus was the commercial development of its proprietary, heavy oil technology. KC 9000®, a breakthrough technology, provides an effective system to enable heavy oil deposits to flow at ambient temperatures.
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.
SOURCE: Freedom Energy Holdings, Inc.