Adama Technologies to Establish Tire Recycle Factories in Romania

NEW YORK, September 13, 2010 /PRNewswire-FirstCall/ -- Adama Technologies Corporation - (OTC BB:ADAC), a clean tech company, today announced that it has signed a Letter of Intent with local entrepreneurs in Romania to establish a line of tire recycle factories, with the ability of partial funding by the European Union and local government. Adama Technologies anticipates the estimated revenues from this new project will generate over EUR100 million annually.

With the substantial aid of the E.U. and governmental funding, the establishment of tire recycle factories is expected to generate a breadth of new jobs in the country and further development of untapped markets in the region. Launching the first tire recycle factory of its kind in Romania, the company expects to open the first factory within the coming year, after which, three additional sites will be set up by 2012.

"The letter of intent we have signed is very important to us and we are very happy with this achievement. Adama's cooperation with Romania and the EU marks a significant milestone in the company's goals to expand technology portfolio and open additional markets across the globe," noted Aviram Malik, CEO of Adama Technologies.

About Adama Technologies Corporation

Adama is a Brownfield remediation company whose foundation lies in its patented technology. The technology successfully treats all metals within the Resource and Recovery Act (RCRA) and Universal Treatment Standards (UTS). The technology has successfully completed the U.S. (EPA) "SITE" program and is ready for commercial use. For further information, visit: http://www.adama-tech.com.

Safe Harbor Statement

This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause actual results or outcomes to be materially different from those anticipated or discussed herein.

    Contact:

    Aviram Malik
    +972544459292
    [email protected]

SOURCE Adama Technology Corp.