Freedom Energy Updates Asphalt Shingle Recycling Agreement

Freedom Energy Holdings Inc. has provided an update to its collective recycling agreement with Americans Investing In America Inc. (AIIA) and Alternative Energy Solutions LLC (AES). Under the terms of an earlier signed 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.

AIIA is a network of entrepreneurs that promote sustainability through community and business-to-business partnerships stimulating environmental-friendly coalitions. The group is backed by CrutchAll Resource Recycling, a Michigan-based shingle recycling company.

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 supply more than 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 use a version of Freedom Energy's KC 9000 technology, which has been 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," says Brian Kistler, Freedom Energy’s CEO.

In related news, Freedom Energy recently announced that it entered into a commercial joint venture agreement with RMT Holding Inc., a foreign based commodities trading company, which deals primarily in the purchase and sale of oil and gas contracts on a global basis. Kistler adds that due to legal issues he could not provide greater detail about the joint venture.