Currently Evaluating Biomass Sources
ATLANTA, GA / ACCESSWIRE / December 18, 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"), is evaluating biomass sources that can significantly reduce the risk of forest fires throughout the United States.
The Company believes that the recent forest fires that ravaged California and other western States are a direct result of State and Federal agencies' inability to enact effective hazard fuel reduction initiatives. In 2017 alone, California reported that over 500,000 acres of forest land have burned, equating to a total economic impact of $85 billion. Beyond California, the United States loses, on average, roughly 5 million acres of forest land per year to fires. These disasters put a significant drain on local economies through lost business tax revenue, jobs and increase in State budgets to combat these natural disasters.
The contributing factor to most fires is the hazardous fuel overcrowding in many public forestlands. Small-diameter trees, dying debris, invasive species, and underbrush are typically left unchecked due to the high cost and regulatory approvals required to remove the material. Without a strong market for the unmerchantable material, State and Federal agencies often have difficulty justifying the cost to remove the materials.
Attis believes that its biomass processing business model is ideally suited to mitigate the risk of damaging forest fires by offering a financial incentive to sustainably harvest the forest thinnings on public lands. Utilizing the previously undesired material as a feedstock for its biorefinery, Attis creates a new market that reduces the burden on taxpayers, increases the health and resilience of our forestland, and contributes to the reduction of potentially harmful, and wasteful, greenhouse gas emissions. Attis would use the sustainably harvested forest thinnings to manufacture a host of everyday products including bioplastics, building and construction materials, adhesives, biofuels and numerous other products traditionally derived from fossil fuels.
"We have all witnessed the horrible fires that have ravaged California over the last few months. I can't help but think that Attis' unique biomass processing solution, once deployed, would be able to reduce the risk of future catastrophes while creating jobs, sustainable products and shareholder value," stated Jeff Cosman, CEO of Meridian Waste.
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.