Meridian Waste Solutions’ Attis Innovations Reports Strong Performance Results for its Bio-Based Composite
Focused on Conversion of Biomass into Low Cost, High Performance Materials
ATLANTA, GA, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Meridian Waste Solutions, Inc. (NASDAQ: MRDN) (“Meridian” or the “Company”), an integrated, non-hazardous solid waste services and innovative technology company, today announced the successful completion of performance testing for lignin-based resins produced by the Company’s patent-pending lignin polymer process.
The product is a flowable resin extender that has shown outstanding mechanical properties and processing characteristics for the plastics market. At 15-25% inclusion rates, the product retains 100% of the tensile modulus, 100% of the impact strength, and over 90% of the tensile modulus in composites using polypropylene and polyethylene - a $265 billion market. Moving on a rapid development curve, the company’s offering meets a host of applications, including automotive components, agricultural products, building and construction and other durable goods.
With a commodity plastics market expected to reach $493 billion by 2022 and consuming 4% of our oil production while doing so, Attis Innovations offers a cost-effective point of differentiation. Attis Lignin is a product that retains the high performance and processing demands of the resin while reducing the overall cost to brand owners. The thermoplastic product allows for composites to be highly loaded without losing the ability to fill large and complex shapes.
“This is a great addition to our lignin polymer business,” said Jeff Cosman, Meridian’s Chief Executive Officer. “We will continue to advance our unique bio-based product to reach higher loading levels as well as to expand our market opportunities. As exemplified by our recent and planned acquisitions, our $3 million grant award from the USDA and the results displayed in this release, Attis Innovations is on course to achieve great success and to lead in the production of high performance, low-cost materials produced from renewable sources.”
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 130,000 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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Released February 7, 2018