Meridian Waste Solutions Commits to Joint Venture for Innovative Biomaterials Business
Offers Viable, Economic Use of Renewable Carbon
MILTON, GA / ACCESSWIRE / April 5, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, today announced the signing of a non-binding term sheet with Advanced Lignin Biocomposites LLC ("Advanced Lignin").
Under the terms of the agreement, a joint venture would be formed between Meridian Waste, Meridian Innovations and Advanced Lignin to develop Advanced Lignin's biomaterials technology portfolio.
Advanced Lignin recognizes that while most consumers desire to purchase environmentally friendly products, and plastics in particular, they have trouble justifying the high cost and the often substandard performance delivered by these products. Advanced Lignin believes it has a viable pathway to produce low cost, high performance materials from lignin, an otherwise undervalued byproduct of the pulp and paper and cellulosic biorefining industries. Lignin is one of the most abundant organic polymers on Earth and is readily available for recovery. 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.
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.
While paper mills and cellulosic fuel providers generally burn the lignin contained in their byproduct stream as a source of green, plant based energy, there is a greener, and more valuable use for that lignin. As a rule of thumb, it takes about two pounds of petroleum to produce only one pound of plastic, whereas Advanced Lignin believes that it can displace about one pound of this petroleum derived plastic with only about one pound of lignin and as a result, dramatically reduce the carbon footprint of plastic products.
Plants take carbon dioxide from the atmosphere and essentially strip out and store carbon in the plant and release oxygen back to the atmosphere. Plants are therefore referred to as a 'carbon sink,' as they remove and store a significant amount of carbon from the atmosphere. Carbon dioxide is the most widely known greenhouse gas in the Earth's atmosphere, and environmentalists continue to seek pathways to reduce the amount generated, especially from that of nonrenewable sources.
While there is an estimated 239 billion tonnes of crude oil underneath the Earth's surface, diminishing at a rate of about 4.5 billion tonnes per year, there lies about 250 billion tonnes of rapidly renewable lignin sitting on the Earth's surface awaiting harvest, use and reuse. Advanced Lignin believes that its technologies will greatly contribute to positive economic and environmental success by more effectively recycling and reusing this naturally regenerating source of carbon.
"The solid waste industry has a responsibility to identify and maximize economic benefit from the materials it collects for processing and/or disposal," stated Jeff Cosman, CEO of Meridian Waste. "The plastic recycling platform has been our industry's staple in its effort to contribute to environmentally friendly and sustainable solutions. While Meridian Waste will continue to support these traditional recycling efforts, we believe that there are additional pathways that can achieve significantly greater results in terms of sustainability and economic benefit. Our new joint venture will explore one such pathway as it essentially participates and contributes to nature's most efficient and ongoing carbon capture and recycling activities. We look forward to what lies ahead for our company and shareholders and will continue to announce our progress on an ongoing basis."
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 to solid waste needs and challenges within the industry and for our customers. Meridian Waste's core business is centered on residential and commercial waste collection and disposal but it also includes a fundamental objective to seek rewarding environmental solutions through innovation. Currently, the company operates in St. Louis, Missouri and Richmond, Virginia servicing over 140,500 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates four transfer stations, one recycling facility and three municipal solid waste landfills.
For more information, visit www.MWSinc.com.
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 an 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.
Released Apr 5, 2017