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The Renewable Corporation Comments on Current Economic Crisis
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SARASOTA, Fla.--(Business Wire)-- The Renewable Corporation (Pink Sheets:RNWC), developer of the proprietary ALCHEMx production platform designed to provide eco-efficient products, services and technologies that leverage renewable resources and alternative energy solutions, comments on the impact of the economic crisis on its business strategy and future business development. CEO, Andy Badolato stated, "The United States continues to suffer from an enduring economic crisis; including job losses, bank failures and across the board corporate layoffs. There is a unified theme emerging from top economists, in both the Republican and Democratic parties and the grass roots consumer level. The best ways to recover from this crisis and create jobs, grow the economy and decrease our dependence upon foreign oil is to shift the United States to alternative energy solutions and implement energy efficiency practices." According to an outline of Barack Obama`s proposed economic stimulus and budget plans, investing in clean energy technology and efficiency practices will create the jobs that will form a new foundation for the middle class. Obama`s plan is to create five million new jobs by strategically investing $150 billion over the next ten years to catalyze private efforts to build a clean energy future. Badolato commented further, "Our Company is well positioned to capitalize on this shift that will be taking place. We will utilize renewable resources such as sugarcane ethanol for alternative fuel use, as well as conversion into plastics and other chemicals utilizing the ALCHEMx ethanol production platform technologies. We are currently targeting the development of a project in the gulf coast to produce renewable plastics. This will create jobs, reduce the impact on the environment and provide sustainable clean renewable plastics for use in everyday consumer packaging and other products." www.therenewablecorp.com Forward-Looking Statements This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Exchange Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions. The Renewable Corporation, Sarasota Craig McClure, Investor Relations, 941-925-2500 ir@therenewablecorp.com Copyright Business Wire 2009
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