Meridian Waste Solutions Completes Acquisition for Innovative Biomaterials Business
Company Receives DOE's Oak Ridge National Laboratory Non-Exclusive Patent for High Performance Lignin-Acrylonitrile Polymer Blend Materials
ATLANTA, GA / ACCESSWIRE / November 30, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, through its wholly-owned subsidiary, Attis Innovations LLC ("Attis"), today announced the acquisition of Advanced Lignin Biocomposites LLC ("Advanced Lignin"), a Minnesota limited liability company that owns and develops lignin recovery, production and applications technology. Additionally, the Company announces the issuance of a non-exclusive commercial patent license agreement between UT-Battelle, LLC (UT-Battelle), the management and operating contractor for the Department of Energy's (DOE) Oak Ridge National Laboratory, and Advanced Lignin Biocomposites LLC.
In its capacity as a management and operating contractor, UT-BATTELLE acquires rights to intellectual property (patents, copyrights, trademarks, and mask works) developed under its contract with DOE. One of the functions of UT-BATTELLE's Office of Technology Transfer is to out-license intellectual property to companies for commercial applications of Oak Ridge National Laboratory-developed technologies. Advanced Lignin has entered into a commercial patent license for the exclusive field of use for polymer blend tiles specifically designed for use as residential and commercial siding and decking and a non-exclusive field of use for other polymer blend materials and uses.
While Advanced Lignin plans to use its advanced methods to more cost-effectively produce many different materials, including adhesives, renewable fuels, and carbon fiber, its initial focus will be to produce high performance green plastics. Advanced Lignin has identified a pathway to produce green, lignin-based plastics that could ideally prove to cost less and outperform many plastics made from nonrenewable resources, such as petroleum. Lignin, an otherwise undervalued byproduct of the pulp and paper and cellulosic biorefining industries, is one of the most abundant organic polymers on Earth and is readily available for recovery. ABL resin is comprised of about 50% lignin, a plant-based component of the formulation. Advanced Lignin trusts that it can recover and convert lignin into higher value and better performing materials more cost-effectively than those methods previously available due to Advanced Lignin's team and infrastructure of partners uniquely suited to understand the supply chain and end of life aspect of the lignin product including lignin recovery, drying and purification technologies and access to manufacturing equipment and processes.
Following recent transactions in the past weeks for the Company's Technology and Innovations Divisions, at this time, the consolidated historical and unaudited financials, which may be subject to change upon audit, of the newly acquired operations, generated revenues of approximately $7-$9 million and $2-$3 million of cash flow for the previous 12 months.
"We see great opportunity to use ABL resin and ABL formulated specialty composite resin materials for sales to manufacturers of plastic goods who seek high performance, cost-effective and eco-friendly solutions," stated Jeff Cosman, CEO of Meridian Waste. "Our commitment to clean communities goes beyond the residential neighborhoods and businesses we service on a regular basis and the landfills we operate as vital community infrastructure assets to identifying economically and environmentally beneficial uses of the waste stream byproducts. Our first endeavors will be aimed towards the building and construction materials markets and later towards automotive materials, appliance components, thermoformed sheet products and foamed materials to serve as a direct replacement of existing resin such as ABS, polypropylene, polyethylene and potentially PVC in many cases."
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 113,000 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://meridianinnov.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.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve certain risks and uncertainties. The actual results or outcomes of Meridian Waste Solutions, Inc. may differ materially from those anticipated. Although Meridian Waste Solutions, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any such assumptions could prove to be inaccurate. Therefore, Meridian Waste Solutions, Inc. can provide no assurance that any of the forward-looking statements contained in this press release will prove to be accurate.
In light of the significant uncertainties and risks inherent in the forward-looking statements included in this press release, such information should not be regarded as a representation by Meridian Waste Solutions, Inc. that its objectives or plans will be achieved. Included in these uncertainties and risks are, among other things, fluctuations in operating results, general economic conditions, uncertainty regarding the results of certain legal proceedings and competition. Forward-looking statements consist of statements other than a recitation of historical fact and can be identified by the use of forward-looking terminology such as "may," "intend," "expect," "will," "anticipate," "estimate," or "continue," or the negatives thereof or other variations thereon or comparable terminology. Because they are forward-looking, such statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Meridian Waste Solutions, Inc.'s most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled "Risk Factors." Meridian Waste Solutions, Inc. does not undertake any obligation to update publicly any of its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Media and Investors Contact:
Hayden IR
ir@meridianwastesolutions.com
(917) 658-7878
SOURCE: Meridian Waste Solutions, Inc.
