MIAMI, Oct. 4, 2012 /PRNewswire/ -- Onteco Corporation (OTC.QB: "ONTC"), (the "Company", or "Onteco"), announced today that it had entered into a Cooperation Agreement with Advanced Copisa Environmental Corporation ("Copisa"), a Canadian corporation and the holder of certain rights to proprietary technology with regards to catalytic pyrolysis technology as applied to the recycling of bulk used tires and non-recyclable plastics.
Under the agreement, Onteco and Copisa will work with one another on developing specific proposals for environmental remediation projects to be submitted to municipalities eager for such technological solutions. Both Copisa and Onteco have a history working on such projects, both in the U.S. and in South America.
"We are very excited about the potential that this agreement presents for Onteco," said Onteco President, Jorge Schcolnik. "Such environmental projects are long term engagements and represent a continuous, significant revenue stream once implemented." Schcolnik concluded, "This agreement with Copisa enables us to better use our historic skills to grow the environmental side of our business."
About Advanced Copisa Environmental Corporation
Advanced Copisa Environmental Corporation, a Canadian corporation, is an engineering, commissioning and operating company, with extensive experience in several key areas of the environmental industry.
Additional information about Advanced Copisa Environmental Corporation is available at: www.advancedcopisa.com
About Onteco Corporation
Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant global environmental challenges. Today, the Company is broadening its operational footprint into rapidly growing consumer markets.
Additional information about Onteco Corporation is available at: www.Onteco.com
Safe Harbor Statement:
This release includes "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. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
CONTACT: Onteco Corporation
Dror Svorai, CEO, (305) 932-9795
SOURCE Onteco Corporation