Florida, Georgia, Pennsylvania, New York, Kentucky, and Minnesota Present Most Competitive Options
MILTON, GA. , May 22, 2018 (GLOBE NEWSWIRE) -- Attis Industries, Inc. (NASDAQ: ATIS) (the “Company” or “Attis”), a diversified innovation and technology holding company, today announced its approval of its lead sites for acquisition and construction of its planned biorefining facilities.
Attis has accumulated a portfolio of patented and patent-pending technologies, all with a view towards building a nation-wide network of advanced new biorefineries designed to convert biomass into renewable alternatives for petroleum-derived fuels, plastics, and other products at far greater efficiencies as compared to conventional processes.
“America’s rural communities are sitting on vast quantities of overlooked biomass reserves,” said Jeff Cosman, the Company’s Chief Executive Officer. “These are local, Main Street, American towns. They have the feedstock, the infrastructure, the incentives, the talent, and the hunger. They just need the technology.”
“We’re thinking big in our approach, designing for feedstock tolerance and product optionality to diversify our commodity risk, all at 50% or better improvements in revenue and margins as compared to existing methods. If we do what we think we can do, we’re going bring disruptive changes to these communities.”
The Company recently narrowed its list of potential sites down to a few locations in Florida, Georgia, Pennsylvania, New York, Kentucky, and Minnesota, after evaluating the incentive-laden offerings from various state governments, and the commercial proposals of targeted land owners, site developers, contractors, feedstock suppliers, and supply chain partners.
Cosman added: “We’re thankful to have so many state economic development offices supporting our efforts. Each of our proposed facilities will stimulate development for its host community while diversifying revenues and creating about 35 jobs per plant – about 50% of which will be skilled. The proposals we’ve seen to date have been very competitive on that basis. We’re looking forward to making our final selections in the coming weeks and months, as we continue to press forward with rapid growth and strong returns for our shareholders.”
Attis is planning to select at least two sites in 2018, each of which will be designed to efficiently convert biomass into high value, sustainable, and environmentally-friendly products. These initial sites would be just the tip of the iceberg as the Company estimates that it would take more than 8,000 of our 200 ton per day systems to process the one billion tons per year of biomass the USDA estimates to be available in the United States today.
Attis Industries, Inc.
Attis Industries, Inc. (NASDAQ: ATIS) is a holding 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 solutions through technology and innovation. Our healthcare business centers on creating community-based synergies through collaborations and software solutions. Our innovation business strives to create value from recovered resources. For more information, visit: www.attisind.com
Forward-Looking Statements
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. You can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “would” or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements are subject to certain risks, uncertainties, and assumptions, including, but 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; the ability of the Company to continue to meet the listing requirements of NASDAQ; the ability of the Company to execute on a business plan that permits the technologies and innovations businesses to provide sufficient growth, revenue, liquidity and cash flows for sustaining the Company’s go-forward business, and the risks identified and discussed under the caption “Risk Factors” in the Attis Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2018 and the other documents Attis files with the SEC from time to time. There will be events in the future, however, that Attis is not able to predict accurately or control. Attis’s actual results may differ materially from the expectations that Attis describes in its forward-looking statements. Factors or events that could cause Attis’s actual results to materially differ may emerge from time to time, and it is not possible for Attis to accurately predict all of them. Any forward-looking statement made by Attis in this press release speaks only as of the date on which Attis makes it. Attis undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.