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SCOTTSDALE, AZ -- (Marketwire) -- 03/28/12 -- AER Energy Resources, Inc. (PINKSHEETS: AERN) announced today it has successfully signed a Letter of Intent to further expand its used motor oil (UMO) brokerage services to include oil from recycled oil filter disposal services presently provided by USA Recycling Industries, Inc. (PINKSHEETS: USRI). USA Recycling is an owner, operator and licensor of specialty recycling service centers, a recyclable waste collector and disposal service provider to commercial customers throughout North America .
The agreement provides for AER Energy Resources to broker UMO recycled from used oil filters through an environmentally efficient collection & disposal process provided by USA Recycling within the automotive service center market place.
Mr. Stanley F. Wilson , President and CEO of AER Energy Resources, Inc. , commented, "The contract anticipates the addition of tens of thousands of new customer locations throughout the continental United States including, but not limited to, existing UMO collection locations at General Motors , Ford, Chrysler , Toyota and Volkswagen dealerships as well as brand name nationwide auto rental car companies. This new oil filter recycling business also includes numerous customers throughout the manufacturing, mining and other industrial sectors," Wilson said.
USA Recycling Industries CEO Vincent J. Smith stated, "The Agreement with AER Energy Resources allows our automotive service center customers with an ecologically friendly process to dispose of many types of oil filters, keeping landfills free of debris, while providing extracted commodities to end-user-consumers at profitable levels."
AER Energy expects to add up to $2,000,000 in additional annual revenues as a result of this new oil filter brokerage agreement.
About AER Energy Resources, Inc
AER Energy Resources, Inc. (www.aernenergy.com) is a diversified holding company with an emphasis on oil and gas exploration, drilling, well completion and fuel distribution.
About USA Recycling Industries, Inc
USA Recycling Industries, Inc formerly known as Voyager Petroleum, Inc. (www.usarecyclingindustriesinc.com) engages in the business as an owner, operator and licensor of specialty recycling services centers which do business under the USA Recycling ® service mark and various other service marks. The Company has a system of operation and method of doing business relating to the collection of recyclable materials, i.e. scrap metals, used tires, used motor oil, used batteries and provides disposal services for other auto-related waste streams generated by the automotive service center industry and sells the recyclable waste to end-user-consumers and/or in some cases charges a disposal fee for certain waste-related services. A USA Recycling ® specialty service center collects, sells and provides disposal services in connection with automotive waste materials, which include by not limited to ferrous scrap metals, non-ferrous scrap metals, used tires, used motor oil, batteries and other auto-related waste streams from underserved sectors within the automotive service center industry. The Company has successfully developed working relationships across the steel production, tire recycling, used motor oil re-refinery and battery production industries. The Company has several contracts with end-user-consumers, who purchase a variety of auto-related recyclable waste materials, in 19 countries including the Continental United States. USA Recycling ® is currently selling its auto-related waste materials both domestically and internationally through its trading operations with offices in North America , India and the United Arab Emirates .
Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
Source: AER Energy Resources, Inc.