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ECO2 Plastics, Inc. Reports 2007 Year End Financial Results, Announces FDA Filing and Provides Outlook for 2008
Date:4/15/2008

SAN FRANCISCO, April 15 /PRNewswire-FirstCall/ -- ECO2 Plastics, Inc., (OTC Bulletin Board: ECOO), the eco-friendly recycling company that is changing the way plastics are recycled, today reported its 2007 year-end financial results in its 10-KSB filing. The Company reported revenues of $4.3 million for calendar year 2007 versus $61,000 during 2006. 2007 operating losses were $16 million versus $14.9 million during the prior year, with net losses of $32.6 million in 2007 versus $20.8 million for the prior year. Cash losses from operating activity were $7.2 million in 2007 versus $4.1 million for 2006.

"2007 was a transitional year for ECO2 Plastics," said Rod Rougelot, CEO of ECO2 Plastics. "We shifted from a development stage company to an operating entity and scaled our operations for commercial production. Equipment was tested for capacity constraints and reliability issues, while over 100 employees were hired and trained to operate the facility. The inefficiency of the ramp-up was exhibited in our 2007 numbers, but the hard work of our team has positioned the Company for a strong 2008."

In January 2008, the Company announced a mechanical problem that impacted the quality of material being produced. Production lines were reconfigured, which resolved the quality issues and the Company began shipments of prime quality flake again in late February.

During the first quarter of 2008, ECO2 completed the necessary FDA testing for the use of our product in the manufacture of food contact applications. Official test results were improved from those announced in Q4 2007. The Company's product now meets FDA standards for up to 100 percent inclusion in 12 categories of focus by the FDA. Our formal application has been filed with the FDA and we anticipate the approval process to take three to six months.

Additionally, the Company successfully converted all of its outstanding convertible debentures to equity during the first quarter of 2008.
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SOURCE ECO2 Plastics, Inc.
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