MILTON, GA, Jan. 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Attis Industries Inc.(NASDAQ: ATIS) (the "Company" or "Attis"), a diversified innovation and technology holding company today announced it will collaborate with Novozymes A/S(NASDAQ OXM: NZYM-B,OTCPK:NVZMF), a world leader in biotechnology for renewable fuel production. Under this newly announced relationship, Novozymes has committed to supplying the enzymes required by Attis to convert its pulp into sugar at all of its planned biorefineries. Novozymes has a broad portfolio of biotechnology to support commercial cellulosic biofuels production, and the ability to ramp up production as needed in an effort to support Attis' ambitious growth plans.
Attis has successfully converted the pulp extracted from its patented biomass processing into high yields of sugar using Novozymes’ proprietary enzyme cocktails. These successful results have validated the planned business model at Attis' biorefineries. The partnership will focus on improving value, yields, and process efficiencies. The sugars that will be produced using Novozymes’ proprietary enzymes will, in turn, be used to manufacture cellulosic ethanol and help contribute to a growing market for cellulosic biofuels under the EPA's Renewable Fuel Standard.
Attis and Novozymes’ initial collaboration will focus on optimizing the value of the biotechnology utilized in the Attis process, enabling Attis to meet the growing demand for advanced biofuels. The current Renewable Fuel Standard calls for the production of 16 billion gallons of cellulosic biofuels by the year 2022, however, the renewable fuel industry has not been consistently able to produce 1 billion gallons on an annual basis. Attis believes this is a tremendous market opportunity where with the combination of Attis' patented biomass processing technology and Novozymes’ proprietary enzymes can forge a new standard for renewable fuel production in the United States.
"Attis is very excited about forming a partnership with Novozymes for the efficient production of ethanol at future biorefineries," stated Jeff Cosman, Chief Executive Officer of Attis Industries. "Novozymes is the industry leader in biotechnology for the renewable fuel industry and brings with it unquestioned credibility to our renewable fuel goals and also shares a similar innovation vision. We look forward to growing our relationship as we continue the deployment of our biorefineries across the country."
About Attis Industries Inc.
Attis Industries Inc. (NASDAQ: ATIS) is a holding company focused on developing and building businesses that play important roles in the new economy, which include renewable fuels, bio-based plastics, healthcare and communications infrastructure. We strive to encourage our employees to be entrepreneurs focused on innovation and technology. We will remain dynamic, persistent and motivated to our mission of winning. The growth of our company will rely on our integrity and our vision for the future. Attis Industries will continue to fulfill essential needs in healthcare, energy independence and digital communications. Today, each of these sectors provide high growth opportunities that collectively account for more than a third of America’s GDP. For more information, visit: www.attisind.com.
Novozymes is the world leader in biological solutions. Together with customers, partners and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuel, and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow. www.novozymes.com
NASDAQ OMX: NZYM-B • 6,500 employees • DKK 14,5 billion turnover • 30+ industries • 700+ products
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.
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