Organic Recycling Technologies Inc. Announces an $8-10 Million Dollar Letter of Intent to Build a Wa

From: Organic Recycling Technologies Inc.
Published: Thu Aug 18 2005

August 17, 2005 – Burnaby, BC – Organic Recycling Technologies Inc. (OTC BB: ORCY) ("Organic Recycling") is pleased to announce that it has signed a letter of intent with Chongqing Jinxibeina Complete Equipment Imp & Exp. Co., a subsidiary of the Chongqing International Economic Technology Cooperative Co. (the "Chongqing Group") to build, own, operate and transfer a waste conversion facility in Chongqing, China, with an estimated dollar value of 8,000,000 – 10,000,000 Dollars U.S.

The Chongqing Group is a multi-million dollar business involved in contracting construction projects and project supervising, labor services provision and training, merchandise import and export, industrial manufacturing covering auto parts, garment and food processing. Its domestic businesses and joint ventures now penetrate into high-tech products manufacturing as well as tourism.

The Chongqing Group, a comprehensive state-owned enterprise group, which was founded on the ratification of the State Council, is engaged in foreign economic & technical cooperation and trading activities both at home and abroad.

With more than 18 years experience behind it, the Chongqing Group has set up dozens of branches in Asia, Africa, North America, Latin America, Europe and the Pacific Region. It also has more than 10 domestic branches and subsidiaries. Its business covers more than 30 countries and regions in five continents.

The Chongqing Group will obtain the land, all permits, a 25 year guaranteed waste contract on a put or pay basis to ensure facility profitability, and a guaranteed letter of credit to purchase the facility from Organic Recycling at cost plus US$2.5 million following three months operations. Additional, the Chongqing Group will purchase all the end product produced by the facility.

The Chongqing area has a population exceeding 30 million people requiring over 100 additional sites. The Chongqing Group will build each additional site in the Chongqing area for Organic Recycling under the same guaranteed terms and conditions as the first site.

Danny Huang, a partner in Waste Consultants Limited, Organic Recycling’s agent for China, stated, "This agreement for Chongqing, China with the powerful Chongqing Group is an enormous advancement that opens Chongqing and China to Organic Recycling."

Ralph Petruzzo, President of Organic Recycling stated, "Organic Recycling has aligned itself with the Chongqing Group to ensure further and rapid growth for the Company in China."

About Organic Recycling Technologies Inc.

Given the demand for recycling technology, Organic Recycling Technologies Inc. is ready for the boundless market opportunities for recycling technologies, waste management technologies and organic recycling technologies. The world is buried in mountains of waste and the world needs solutions. Organic Recycling Technologies Inc. has the technologies and the solutions. This name change gives Organic Recycling Technologies Inc. the direction and establishes a clear message for all of its business efforts. Organic Recycling Technologies Inc. is incorporating the best technologies in the waste and recycling industries, so it has the best solutions today and tomorrow.

Forward-Looking and Cautionary Statements:

Certain statements contained herein, including, without limitation, statements containing the words "believes", "intends" and other words of similar import, constitute "forward-looking statements" within the meaning of Section 27A of Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Organic Recycling Technologies Inc. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Organic Recycling Technologies Inc. disclaims any obligation to update or to announce publicly the results of any revision of the forward-looking statements contained or incorporated by reference herein to reflect future events or developments.

For further information please contact (877) 419 – 0430.

On behalf of the Board of Directors of: Organic Recycling Technologies Inc.

"Ralph Petruzzo"

Ralph Petruzzo, President

Company: Organic Recycling Technologies Inc.
Contact Name: Ralph Petruzzo
Contact Email:
Contact Phone: 877-419-0430

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