Evaluating Potential Facility in Minnesota
ATLANTA, GA / ACCESSWIRE / December 5, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services and innovative technology company, today announced that its wholly-owned subsidiary, Attis Innovations ("Attis"), formerly Meridian Innovations, has initiated commercialization plans for it first biomass processing facility. Attis will immediately begin feedstock evaluation and assess potential locations for commercial scale operations.
In the past month, Attis completed acquisitions that position the Company to be a leader in the bio-based economy. Attis now holds an exclusive license to American Science Technology Corporation's (AST) patents and AST's biomass processing facility in Wausau, WI. Utilizing the acquired intellectual property rights and highly qualified personnel, Attis Innovations plans to take the next step and looks to build its first 60,000-ton per year commercial production facility in Minnesota.
Attis has begun evaluating potential feedstocks for conversion into pulp, cellulosic sugars, and AST's unique melt-flowing lignin. Of particular interest for its first commercial-scale facility, is the hardwood and softwoods found in northern Minnesota as well as the agricultural crop residues from corn, soybean and wheat growers found in the southern part of Minnesota. Collectively, Minnesota generates about 27 million tons of forest and agricultural residues each year in addition to having a living tree inventory of about 465 million tons.
The Minnesota region is appealing not only for its abundant feedstock opportunities but also because of the Minnesota AGRI Bioincentive Program. Through the program, Attis will be able to apply for direct production payments from the state. Attis's unique grade of melt-flowing lignin will qualify for a $0.06 per pound payment and, in many cases, Attis's cellulosic sugars will qualify for $0.03 per pound produced. This incentive program will allow Attis to offset some of the costs associated with commercializing its advanced processing methods and to decrease the payback period.
Attis believes it will be able to prosper where traditional pulp & paper operations have not as Attis technologies are capable of converting both cellulose and lignin into a wider variety of marketable products, whereas traditional pulp & paper companies have considerable limitations as a result of the antiquated methods they use. Attis is capable of generating between 35% and 100% more revenue than pulp, paper, and cellulosic fuel production facilities.
Attis's technology applies to most any form of biomass and Attis will be evaluating biomass materials from many additional crops and regions as it plans out its growth strategy.
"This is an exciting time for Attis, its shareholders and those looking to create jobs in rural America," stated Jeff Cosman, CEO of Meridian Waste. "We look forward to continued updates to our shareholders as we make progress."
About Meridian Waste Solutions, Inc.
Meridian Waste Solutions, Inc. (NASDAQ: MRDN) is a company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding environmental solutions through technology and innovation. Our core waste business is centered on residential and commercial waste collection and disposal. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 113,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates three transfer stations, one recycling facility and three municipal solid waste landfills. The technology division centers on creating community-based synergies through healthcare collaborations and software solutions. Our innovation division (http://attisinnovations.com) strives to create value from recovered resources, through advanced byproduct technologies and assets found in downstream production. For more information, visit www.MWSinc.com.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K.
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SOURCE: Meridian Waste Solutions, Inc.