ECO2 Plastics, Inc. Reports 2006 Year-End Financial Results

Date: April 2, 2007

Source: ECO2 Plastics, Inc.

ECO2 Plastics, Inc., (OTC Bulletin Board: ECOO.OB), the eco-friendly recycling company that is changing the way plastics are recycled, today reported 2006 year-end financial results. The Company reported a net loss of approximately $21 million on revenues of $61 thousand. In 2005, the Company reported a net loss of approximately $15 million with no revenues reported. Of the $21 million loss in 2006, approximately $16 million were non-cash transactions. Complete details can be found online in the Company's 10-KSB filing.

Rod Rougelot, ECO2's CEO stated, "2006 was a year of transition and significant development for ECO2. Having proved our technology in prototype, we redeveloped the plant for full-scale commercial production, strengthened our balance sheet with $13 million in fundraising efforts, and built a management team capable of achieving our growth objectives."

About ECO2 Plastics
ECO2 Plastics, formerly ITEC Environmental Group (ITEC.OB), is a publicly traded company engaged in PET plastic recycling. The company's patented and patent-pending process was developed through a research partnership with Honeywell FM&T and the US Department of Energy. ECO2 Plastics is the exclusive worldwide licensee of the technology. The company operates a recycling plant in Riverbank, California and another plant is currently under development in Southern California.

ECO2's approach sets it apart from competitors that deploy water-based recycling processes. Unlike other recyclers, ECO2's process eliminates the use of water, respects and preserves the environment, while delivering the highest quality recycled plastic flake with up to 50% less operating cost. ECO2 Plastics is the only recycling company that can claim (i) that its plastic recycling technology has a negligible impact on the environment and (ii) is distinguishable from existing technologies when it comes to water waste and chemical contamination.
For more information please email press@eco2plastics.com or call 415-885- 8049.

For more information, contact:
ECO2 Plastics
415-885-8049
press@eco2plastics.com.
www.eco2plastics.com.

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