Freedom Environmental Acquires Assets of Grease-Tec, a/k/a Clean Fuel, LLC for Cash and Warrants

ORLANDO, Fla., Jan. 13, 2011 /PRNewswire/ -- Freedom Environmental Services (Pink Sheets: FRDM) announces that it has successfully acquired the assets of Clean Fuel, LLC. Pursuant to the Asset Purchase Agreement (APA), and upon the terms and subject to the conditions thereof, our Company agreed to purchase all of equipment, inventory on hand, furniture and a customer list. The purchase price for the assets consisted of $850,000 in cash and 5,000,000 warrants at a $.10 exercise price which are fully vested and have a three (3) year life at the date of closing of the acquisition. Further details can be viewed on Form 8-K that was filed with the Securities and Exchange Commission January 4, 2011.

Freedom Environmental CEO Michael Borish states the following:

• The acquisition of the Grease-Tec customer list is significant and contains over 1000 accounts that are new to Freedom Environmental.
• These new accounts will allow Freedom the ability to offer many additional services not currently provided potentially driving additional revenue streams.
• Although there can be no guarantees, the acquisition is expected to bring total revenues for 2011 to over $10 million as well as increased earnings in 2011.

Additionally, Freedom filed its updated and amended stock option plan through a Form S-8 on January 4, 2011.

About Freedom Environmental Services

Freedom Environmental Services (FES) is one of Florida's only 100% "Green" grease and wastewater collection, processing, and recycling companies headquartered in Orlando, Florida. FES provides the most comprehensive, cost-effective and reliable treatment systems and services. FES provides full capture and processing of organics and grease from both commercial and residential accounts. FES processes all wastewater and grease, normally sent to a dump site and produces a reusable bio-fuel feedstock. Working in conjunction with the Department of Environmental Protection, major utility providers, and local health departments, FES provides Wastewater and Storm-water System Management, Grease and Organics Collection, Processing, and Disposition, Commercial Plumbing and Water System Management, Septic service and maintenance, lift station maintenance, line jetting and excavations.

www.freedomwaterservices.com

SOURCE Freedom Environmental Services