Freedom Environmental Begins Delivery of Recycled Yellow Grease Commodity Resulting From the Recent Acquisition of Clean Fuel, LLC

ORLANDO, Fla., Jan. 18, 2011 /PRNewswire/ -- Freedom Environmental Services (Pink Sheets: FRDM) announces that it has delivered over 50,000 gallons of recycled yellow grease commodity since the acquisition of Clean Fuel, LLC (aka Grease Tec) was made official as of December 17, 2010.  Freedom's management anticipates generating progressively higher levels of yellow grease commodity each month by integrating its existing customer base of recognizable commercial brand accounts. The newly acquired recycling facility has helped make this all happen.

President and CEO Michael Borish stated, "The current commodity is being priced and sold according to the NY mercantile heating oil index, which is, as of January 18, 2011, at $2.67 per gallon.  This represents a significant addition to our already profitable business model."  CEO Borish continued, "We have also begun entering into contracts to provide additional services to recently acquired Clean Fuel accounts."  

Pursuant to the Asset Purchase Agreement (APA), and upon the terms and subject to the conditions thereof, Freedom Environmental agreed to purchase all of the equipment, inventory on hand, furniture and a customer list of Clean Fuel, LLC and closed the acquisition on December 17, 2010.  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.  It was announced on Thursday, January 13, 2011 that the acquisition would add over 1000 new accounts to Freedom's existing customer base. Further details can be viewed on Freedom's Form 8-K, filed 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