Primary Energy Announces Completion of Share Consolidation

- Post-consolidation shares to commence trading on May 19 -

OAK BROOK, IL, May 16 /PRNewswire/ - Primary Energy Recycling Corporation (the "Company" or "Primary Energy") (TSX: PRI), a clean energy company that generates revenue from capturing and recycling recoverable heat and byproduct fuels from industrial processes, today announced that it has completed the previously announced consolidation of its issued and outstanding common shares.

The consolidation was implemented on the basis of one post-consolidation common share for three existing common shares. Primary Energy expects that the common shares will begin trading on a consolidated basis on the Toronto Stock Exchange at the opening of trading on May 19, 2011. The consolidation has reduced the number of common shares outstanding from 134,118,561 to 44,706,186.

About Primary Energy Recycling Corporation
Primary Energy Recycling Corporation owns a majority interest in Primary Energy Recycling Holdings LLC ("PERH"). PERH, headquartered in Oak Brook, Illinois, indirectly owns and operates four recycled energy projects and a 50 per cent interest in a pulverized coal facility (collectively, the "Projects"). The Projects have a combined electrical generating capacity of 283 megawatts and a combined steam generating capacity of 1.8M lbs/hour. PERH creates value for its customers by recycling recoverable heat and byproduct fuels from industrial and electric generation processes and converting it into reliable and economical electricity and thermal energy for resale back to its customers. For more information, please see www.primaryenergy.com.

Forward-Looking Statements
When used in this news release, the words "anticipate", "expect", "project", "believe", "estimate", "forecast", "goal", "could" and similar expressions are intended to identify forward-looking statements. Such statements are subject to certain risks, uncertainties and assumptions pertaining, but not limited, to the timely listing of the post-consolidation common shares on the Toronto Stock Exchange and other factors discussed in the Company's public filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect new events or circumstances except as required by applicable securities laws.

SOURCE Primary Energy Recycling Corporation

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