Plans to Produce Bioplastics from Corn and Cellulosic Ethanol Byproducts
Atlanta, GA (GLOBE NEWSWIRE) - Meridian Waste Solutions, Inc. (NASDAQ: MRDN) (“Meridian” or the “Company”), an innovative technology and integrated, non-hazardous solid waste services company, today announced a strategic partnership with Genarex FD LLC (“Genarex”) to develop a broader range of bioadditives for the plastics market.
Genarex extracts otherwise low-value materials from corn ethanol byproducts and uses these materials as bioadditives in plastics.
The U.S. corn ethanol industry produces about 50 million tons of a low-value byproduct referred to as distillers dried grains, or DDGS. Genarex’s technology removes a portion of the DDGS and converts it into a polymerized material branded as Bylox. This material has proven to have a high value as a functional filler in numerous plastic formulations.
Attis Innovations, a wholly owned subsidiary of Meridian Waste Solutions Inc., recovers lignin from the byproduct stream of biomass processing industries, such as pulp and paper and cellulosic ethanol. Attis’ recovered lignin is unique in that it is a melt flowing biomaterial that is low cost and acts as a highly functional polymerized biofiller in applications such as plastics, adhesives and transportation fuels.
The combination of the two offerings adds value to a vast array of plastics conversion technologies, including blown and cast films, injection molding, profile and sheet extrusion, thermoforming, and rotational molding. Bioplastics including PLA, PBAT, PBS, and traditional plastics including PE, PP, PVC, and PS are just a few of the resin systems which can be extended or improved with the combined portfolio of products. The products offered by both companies are entirely biobased and offer resin extension at cost parity or cost savings to existing fossil fuel-derived feedstocks.
“Partnering with Genarex allows us to tap into its seven-year history of process and product development and pre-existing commercial scale pilot capabilities to accelerate the commercialization of our lignin products,” said Jeff Cosman, Meridian’s Chief Executive Officer. “We see the established infrastructure and coproduct volumes of the corn ethanol industry as a strategic target for our developing ecosystem of value-added biorefining technologies. We’re excited to work with the Genarex team to build shareholder value for both companies as we continue to evolve from traditional waste management to byproduct conversion and refining.”
Additional information on Attis’ technologies is available online at www.attisinnovations.com, and www.genarex.com.
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. 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. Our waste services 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. 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.
© 2018 GlobeNewswire, Inc. All Rights Reserved.
SOURCE: Meridian Waste Solutions, Inc