Encourages Trump Administration to Limit Small Refiner Exemptions
MILTON, GA, June 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Attis Industries Inc. (NASDAQ: ATIS) (the "Company" or "Attis"), a diversified innovation and technology holding company with a production asset in Fulton, NY that produces corn-based ethanol, today announced its support of the Trump Administration’s actions in the recent approved expansion of ethanol blends in on-road transportation fuels.
On May 30th, the Environmental Protection Agency (“EPA”) approved sales of gasoline with 15% ethanol (“E15”) content year around. This is a change from the current policy that limits the use of E15 to just eight months of the year and provides fuel retailers the certainty they need to install E15 fueling infrastructure to increase consumer options for climate-friendly fuels. This rule change has the potential to create a significant increase in market demand for corn-based ethanol as well as other advanced fuels such as cellulosic ethanol.
While the Administration has allowed for the market expansion of ethanol via the E15 rule change, it continues to undermine the enforcement of the Renewable Fuel Standard through its abuse of the small refiner exemptions (SREs). The small refiner exemptions have had a drastic effect on renewable fuel demand over the past two years and have drawn the ire of farmers across the country. Attis encourages the Administration to continue its support of the nation’s farmers and renewable fuel producers by limiting SREs to those refiners who truly have encountered hardships by complying with the Renewable Fuel Standard.
“Attis is now part of the small club of renewable fuel producers in the United States,” stated Helen Petersen, Director of Corporate Policy and Governmental Affairs. “As such, we strongly support policies that promote the expansion of renewable fuel blending in our on-road transportation fuels and help strengthen our ability as a nation to achieve energy independence through the use of home grown, sustainable alternative fuels.”
Attis Biofuels, LLC, a wholly owned subsidiary of Attis Industries Inc., currently operates a 100 million gallon per year corn-based ethanol facility in Fulton, NY and has plans to expand the production of renewable fuels to include cellulosic ethanol and various other advanced biofuels. This will be achieved through the implementation of its various patented and patent pending technologies that specialize in the conversion of virtually any form of biomass (including woody biomass, corn stover and corn ethanol byproducts) into cost-competitive cellulosic ethanol and other advanced fuels like biodiesel, renewable diesel and jet fuels.
“We are incredibly proud of the men and woman that operate our Fulton ethanol facility, but they are just the tip of the iceberg for Attis and our goal of bringing transcendent change to the global renewable fuel market,” stated David Winsness, President of Attis Innovations. “The Trump Administration’s approved and proposed changes enable growth in the renewable fuel market and allow companies like Attis to bring real, substantive change to an industry choking from a lack of innovation. Our goal is to grow shareholder value through the sound operation of existing assets, the implementation of industry changing technologies and strategic investments that expand Attis’ renewable fuel production portfolio. Favorable policies, such as the ones the Trump Administration has touted, are looked upon favorably by Attis and its management.”
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 our nations GDP. For more information, visit: www.attisind.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. 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 meeting any of its obligations under its indebtedness for borrowed money, 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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