Oretech Inc. Announces Plan to Build in Alabama City

Oretech Inc., a company that has developed a process to extract minerals from a range of materials, announces plans to build a new materials processing and refining operation in Phenix City, Ala. The company claims the process does not use harmful chemicals or emit environmentally unsafe gases.

Stephen Cummins, chairman and CEO of Oretech, said the city and the company are expected to work together to get the facility built and operational.

"This is truly an exciting time for our city. It has been a pleasure working with the management of Oretech to bring this project to fruition. The partnership that we are entering into with Oretech is one that we value and will provide tremendous opportunities for our city, community and state,” said Sonny Coulter, Phenix City’s mayor. “The city of Phenix City is committed to quality growth that will lead us into a bright and successful future. “We believe that Oretech will be a key component to this success. I would personally like to thank our city council, city manager and economic development director. Each individual has contributed greatly to bringing this project to our city," said Mayor Coulter, in making the announcement.”

The company also expressed interest in the possibility of using the Oretech system for processing and disposing of electronic scrap.

Cummins, Oretech’s chairman, said, "This is a global environmental problem that is only going to grow with time, and shipping our country's electronic waste streams offshore for disposal is not the solution. We see entrance into this fragmented market as an excellent potential profit center for Oretech, and we have always been focused on initiating new technological applications that are friendly to the environment. It's a win-win deal for us. In lieu of disposing the electronic components, our technology allows us to efficiently recycle them. At the end of the day, we would produce a wide range of materials that can be reused in the manufacturing of computers and other electrical and industrial applications."

Oretech's plan for entering this global market is to immediately initiate testing on E-scrap material, and, based upon those results, management will develop a strategic business plan and operating pro-forma for presentation to the board of directors. The business plan will address the following issues:

1. Identify sources and types of electronic component waste streams

2. Assess current remediation practices and operating costs

3. Identify market needs for recovery and reuse of electronic

components and disposal of obsolete electronics equipment

4. Development of a cost-benefit analysis to develop validation

5. Technological and economical validation through testing of specific E-waste feedstock.

Upon completion of the business plan and approval from the board of directors, management would move to raise the capital resources necessary to establish an E-Waste demanufacturing and recovery plant in Phenix City, Ala.

The company is in the process of seeking funding for its operations.