Meridian Waste Solutions Launches New Subsidiary: Meridian Innovations
Seeking to Capitalize on Value of Recovered Materials
MILTON, GA / ACCESSWIRE / February 8, 2017 / Meridian Waste Solutions, Inc. (NASDAQ: MRDN) ("Meridian Waste" or the "Company"), a vertically integrated, non-hazardous solid waste services company, today announced the formation of Meridian Innovations LLC, a wholly-owned subsidiary of the Company. 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.
Meridian Waste is well aware that enormous volumes of manufacturing residues are disposed of on a daily basis. Many of these residues contain concentrated sources of otherwise valuable materials that, if separated and further processed, could yield superior economic value to that of their current disposal pathway. As a response to this opportunity, Meridian Waste has formed Meridian Innovations LLC for the purpose of investing in advanced byproduct recovery technologies and, in some cases, acquiring certain downstream production assets, which could further capitalize on the value these recovered materials generate.
Meridian Innovations has identified a technical development team of experts who have a highly successful technology development and commercialization history. Over the past ten years, these technologists have invented and commercialized technologies that are currently generating more than $500 million per year in net income from process equipment costing less than $500 million to install. All of this value has been created through the recovery of materials from otherwise low value industrial byproduct streams.
Meridian Innovations has presented its technology development team a platform that allows them the ability to rapidly deploy and be fairly compensated for the innovative solutions they create while Meridian Waste provides its shareholders diversity through the development of transformative waste solution opportunities.
"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. "Through the creation of Meridian Innovations, our Company is committed to exploring and implementing sustainable technologies, while simultaneously creating shareholder financial value. It is imperative that both sustainability and economic benefits are jointly respected and gained."
About Meridian Waste Solutions, Inc.:
Meridian Waste Solutions, Inc. (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. Currently, the company operates in St. Louis, Missouri and services over 65,000 residential, commercial, industrial and governmental customers. In addition to a fleet of commercial, residential and roll off trucks, the Company operates three transfer stations and one municipal solid waste landfill.
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 Feb 8, 2017