Planet Resource Recovery Inc. (OTC: PRRY), manufacturer of MAX amphibious all-terrain vehicles (www.maxatvs.com), announces the appointment of Terence Stuart Sowray as an Independent Advisor of Planet Resource Recovery Inc.
Mr. Sowray is a senior systems engineer and enterprise architect with well-developed leadership, executive and management skills and a track record of success in the most challenging, complex and demanding of environments. Mr. Sowray’s expertise in Complex Systems Engineering and the development of leading edge approaches is successfully applied in both national and multinational C4ISR capability contexts as well as the development of security, information and system architectures for the next generation of UK and US expeditionary contingent capability. Mr. Sowray currently serves as Managing Director and Chief Designer of Agile Vehicle Technologies Limited and oversees vehicle development, extreme terrain mobility systems, role systems integration, autonomy and robotics – concept through design, fabrication and manufacture.
Mr. Sowray also served as an Officer for the British Army during his career in the Defence Helicopter Support Authority and 16 Air Assault Brigade, as Chief of Staff for HQ British Forces Bosnia, and led corporate development and strategic implementation for the HQ Defence Logistics Organisation (DLO).
Andrew Lapp, CEO of PRRY, is grateful for Mr. Sowray’s willingness to serve as an Independent Advisor to PRRY. “Mr. Sowray has experience in many areas that will benefit PRRY. I believe Mr. Sowray is a great fit to serve as an advisor because he can offer the Company guidance in manufacturing, engineering, robotics, and new vehicle development in the Electric Vehicle sector. The combination of his knowledge in military operations, engineering, autonomy, robotics, and manufacturing processes can potentially pave the way for MAX ATVs to once again engage in contracts with the US Military.”
PRRY management has re-established relationships with new and existing MAX vendors and suppliers and will begin taking delivery of many of the components to build MAX vehicles in early October. The company’s anticipated timeframe to launch MAX ATV production is January 2024.
“The company has made significant progress in the relaunch of MAX ATVs” states Andrew Lapp, CEO. “We have spent the better part of 2023 reviewing drawings, making changes when necessary, quoting parts with multiple vendors, ordering samples for testing, and placing orders for production quantities. We have also recently relocated all of our tooling and equipment from storage in New York to MAX’s new home in Florida, where we are gearing up to manufacture new MAX ATVs beginning January 2024. The company has also opened a waiting list on the MAX website for customers who are interested in pre-ordering the new 2024 MAX 2 ATV this fall.”
More information about the new 2024 MAX 2 ATV is available at www.maxatvs.com.
About Planet Resource Recovery Inc.
PLANET RESOURCE RECOVERY, INC. (“PRRY”) is the new manufacturer of the amphibious six-wheel-drive (6×6) MAX all-terrain vehicle product line (www.maxatvs.com), originally manufactured by Recreatives Industries Inc. of Buffalo, NY, from 1970 to 2013.
In 2022, the company appointed Galen Reich as President of PRRY. Galen served as General Manager and Marketing Manager for Recreatives Industries from 1993 to 2013 when the company was first sold and has since served in upper management with all subsequent owners of the MAX ATV brand.
PRRY will capitalize on MAX’s brand legacy of 53 years by focusing on building the MAX ATV product line from existing, proven designs, which will ensure a rapid re-entry into the broader global ATV market which continues to grow at over 1,000,000 units per year.
Beyond traditional MAX ATV production, PRRY plans to diversify its product line by introducing new vehicles and products to market in a compressed timeframe. The company’s planned diversification includes larger eight-wheeled vehicles (8×8) as well as electric vehicle (EV) drivetrains to draw on recent advancements in battery and drive motor technology, which make fitment in smaller vehicles possible. PRRY management believes that electric vehicles can offer performance that exceeds that of the traditional mechanical transmissions that most all-terrain vehicles employ.
Safe Harbor
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, intended to be covered by the “safe harbor” created by those sections. Any statements that are not historical facts contained in this press release are also “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as “expects,” “plans,” “projects,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates,” and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be canceled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission (” SEC “). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act, and Securities Exchange Act.
CONTACT:
Planet Resource Recovery, Inc.
Investor Relations
ir@recreatives.com
1-800-255-2511
www.recreatives.com