TAMPA, FL -- (Marketwire) -- 03/23/12 -- American Fiber Green Products, Inc. (OTCQB: AFBG) (PINKSHEETS: AFBG) today announced that the company has tapped into the multi-billion dollar wind energy industry and opened the first of many fiberglass recycling collection points around the continental U.S. for the purpose of using its proprietary patented process to recycle fiberglass.
According to Kenneth McCleave, Chairman of AFBG, the first major collection site was opened in Roscoe, Texas in the fourth quarter of 2011 specifically to handle the fiberglass blades of the wind energy industry damaged and removed from service by manufacturers, owners and operators of wind farms. This location was chosen because it is home to the nation's highest concentration of wind turbines and anticipated growth. This multi-billion dollar industry generates thousands of tons of fiberglass waste either through the manufacturing process or decommissioned wind blades in the field. Until AFBG began operation in August of 2011, all waste went to landfills where it will stay for hundreds of years without degradation. Since that time, AFBG has been commissioned to move almost 200 tons of product into its recycling program by some of the world's most prominent companies.
The Company has removed wind blades from Texas, Montana and Minnesota and has opened smaller temporary fiberglass storage in Wyoming and at its headquarters in Tampa, Florida.
McCleave stated, 'Our CEO and President, Dan Hefner, has been at point to locate company sites. Currently, we have chosen ten (10) cities as hubs for gathering. We expect to open at least this number over the next 12 months.'
Hefner commented, 'We have received hundreds of calls from fiberglass producers all over the country asking when we will be in their area. These calls represent millions of pounds of fiberglass destined for the landfill each year until we are in place. They also represent millions of dollars in tipping fees annually that we can receive.'
Hefner continued, 'We have been seeking adequate funding to allow a major push toward establishing our network of fiberglass recycling facilities. The first step in doing so was identifying locations of sufficient waste production where the tipping fees generated would produce adequate cash flow to make the operations profitable in anticipation of the actual production facility coming online. While we are considering purchases, leases, joint ventures and state economic development opportunities nationwide, the magnitude of the wind energy industry in Texas and contiguous states and the cash that could be generated made the region a logical choice for our first gathering site. The city of Roscoe, Texas welcomed us on a temporary basis and hopes to make the partnership permanent. As a designated 'economically disadvantaged' city, it is anticipated that that city will be able to use local, state and federal funds to bring the new jobs of fiberglass recycling to their residents.'
The Company expects to be able to use this model to expedite the expansion projected for the next 24 months.
Hefner noted substantial progress has been made in creating awareness of the growing fiberglass dilemma worldwide and of American Fiber Green Products, Inc. subsidiary, Amour Fiber Core, Inc.'s ability to be The Solution for diverting fiberglass from landfill destinations to recycling into environmentally friendly replacements for pressure treated wood, concrete and even steel in extreme cold applications.
American Fiber Green Products, Inc. trades under the symbol AFBG. The company maintains a website at www.americanfibergreenproducts.com.
AFBG has a Strategic Partner in American Commerce Solutions, Inc. trades Over the Counter under the symbol, AACS. The Company maintains a website at www.aacssymbol.com.
Under the Safe Harbor rules consider the following: Any portion of this presentation that is not historical in nature is subject to change due to any number of factors that are not under the control of the Company or its officers. As such, anyone reading this information release should consider the possibility that material differences from the information presented may occur and should be verified before any consideration to invest.
Daniel L. Hefner