Collaborative Opportunity to Accelerate Adoption of Bioplastics, an Expected $44 Billion Market in 2020
MILTON, GA, May 24, 2018 (GLOBE NEWSWIRE) -- Attis Industries, Inc. (NASDAQ: ATIS) (the “Company” or “Attis”), a diversified innovation and technology holding company, today announced its participation in the innovative Plastics Industry Association (“PLASTICS”) Bioplastics Division.
Bioplastics made from biomass can be used as renewable offsets for fossil fuel-derived feedstocks in manufacturing products for use in the same applications as traditional plastics. The global bioplastics market is one of the fastest growing sectors of the plastics industry, with a forecasted annual growth of 20-30%. It has expanded rapidly over the last five years and is expected to increase from $2 billion in 2014 to nearly $44 billion in 2020, while contributing 32,000 jobs to the American economy.
Attis is positioned to take advantage of this explosive growth with its portfolio of patented and patent-pending processes and biobased products, including the Company’s proprietary melt-flowing lignin bioproduct. These lignin products enable increased biobased feedstock inclusion rates in conventional production processes, while opening up new markets for higher-priced bioplastics by cost-reducing final formulations.
“Our ambition is to make a significant contribution to the growth of the bioplastics market as we roll-out our planned network of biorefineries,” said Jeff Cosman, Attis’ Chief Executive Officer. “We’re excited to have the opportunity to promote and educate the industry about bioplastics, and we look forward to collaborating with some of the world’s leading developers and manufacturers of bioplastics on new and innovative uses for bioplastics.”
Attis joins like-minded companies, such as BASF, Coca-Cola, DowDupont, Eastman Chemical and PepsiCo, in educating the plastics industry and consumers on the value of bioplastics and use in everyday products. Attis will be represented by Bob Montgomery, the Company’s Vice President of Product Development, who will be chairing the Communications, Membership and Marketing subcommittee. Mr. Montgomery brings over 15 years of plastics industry experience to bear as he spearheads development of the Company’s lignin-based and other biobased products produced by the Company’s patented and patent-pending biomass conversion technologies.
About PLASTICS
The Plastics Industry Association (PLASTICS), formerly SPI, is a purpose-driven organization here to support the entire plastics supply chain. PLASTICS works to make its members and the industry more globally competitive, by advancing sustainability and being a good steward of resources, and by promoting plastics manufacturing. Since 1937, PLASTICS has been providing education and advocacy to its members. Its committees and events, such as its signature global tradeshow NPE, bring the boldest and brightest innovators, influencers and new technology together to create connections and showcase our industry. From the technological advancements PLASTICS enables to the possibilities it creates, PLASTICS dedicated to helping its members shape the future and make a positive impact every day. More information on PLASTICS and its Bioplastics Division is available online at www.plasticsindustry.organd www.plasticsindustry.org/advocacy/bioplastics, respectively.
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.