Attis Industries Aims to Disrupt Fossil Fuel Markets with Advancements in Bio-Processing
BARNESVILLE, Georgia - (NewMediaWire) - January 14, 2019 -- Attis Industries Inc. (NASDAQ: ATIS) is a diversified company with
operations across the healthcare and biomass industries. After the successful
divestment of its waste management services business in early 2018, the
management is focusing on the biofuels market.
With its new
proprietary technology in place, the Attis management believes that it will
achieve a high economic yield on biomass. At the heart of the company's
efficiency gains is its ability to maximize the commercial potential of lignin,
which is a complex organic polymer found in the cell walls of most plants,
making them rigid and woody.
Lignin is the
second most prevalent abundant natural polymer in the world, surpassed only by
cellulose, and is usually a waste output in traditional biomass processing
plants. Pulp mills produce about 50 million metric tons of lignin annually, but
only 2% of lignin is used for commercial purposes. For Attis, melt flowable
lignin will be processed for use in various plastics applications, including
bioplastics, carbon fiber, adhesives, and renewable fuels. Management estimates
significant potential to impact these markets, with Attis' technology offering
the potential to replace up to 25% of fossil fuel content used in the
manufacture of some polyethylene and polypropylene plastics applications
without compromising tensile strength. A similar opportunity exists within the
carbon fiber market which is expected to aid Attis in entering the automobile
sector.
However, the
highlight of Attis' new offerings is its bioprocessing technology for renewable
fuels. The management is using conventional processing methods to convert
biomass and its high purity lignin into drop in fuels such as gasoline and
diesel, with more than a 60% reduction in greenhouse gas emissions.
For the
processing, the company has signed a letter of intent to purchase a 32-acre
site in Barnesville, GA for their first commercial-scale bio-refinery. This
refinery is strategically located in Georgia, providing ample feedstock supply
and positioned to benefit from existing logistics and infrastructure. Attis
expects the facility to have production capacity of 30,000 tons per year of
pulp for sale into conventional pulp and paper markets, and as a feedstock for
renewable fuel production. In addition, the company will manufacture 20,000
tons per year of a unique, melt flowable form of lignin, which is expected to
generate about 50% more revenue per ton than conventional methods.
The management
expects the Barnesville bio-refinery to generate $35 million of annualized
revenue and also create a significant number rural jobs, to benefit the overall
economy of the US.
For more
details, please visit: https://smallcapsdaily.com/attis-industries-aiming-to-disrupt-fossil-fuel-markets-with-groundbreaking-advancements-in-bioprocessing/
About Attis
Industries
Attis
Industries Inc. is based in Milton, GA, a suburb of Atlanta. Attis is a holding
company focused on advancing businesses that developing technology with the
potential to bring about transformative change. The company is run by CEO Jeff
Cosman, a former professional baseball player drafted by the New York Mets who
has gone on to be a leading executive in the waste management, healthcare, and
telecommunications industries. Attis divested its waste management services
business to private equity firm Warren Equity at an enterprise value of over
$100 million and operates two core business units today: Attis Innovations and
Attis Healthcare. Attis Innovations has a highly differentiated approach to
biomass processing that is centered around cost-efficiently harnessing the
potential of cellulose and lignin for the creation of high value bio-based
products. Attis Healthcare offers a suite of laboratory testing and therapeutic
solutions provided to more than 200 pharmacies, clinics, hospitals, and
healthcare providers across the United States. For more details about Attis
Industries, please visit http://www.attisind.com.
Important
Cautions Regarding Forward-Looking Statements
Certain
matters discussed in this press release may be forward-looking statements. Such
matters involve risks and uncertainties that may cause actual results to differ
materially, including the following: changes in economic conditions; general
competitive factors; acceptance of the Company's products in the market; the
Company's success in obtaining new customers; the Company's success in product
development; the Company's ability to execute its business model and strategic
plans; the Company's success in integrating acquired entities and assets, and
all the risks and related information described from time to time in the
Company's filings with the Securities and Exchange Commission
("SEC"), including the financial statements and related information
contained in the Company's Annual Report on Form 10-K and interim Quarterly
Reports on Form 10-Q. Examples of forward-looking statements in this release
may include statements related to our strategic focus, product verticals,
anticipated revenue, and profitability. The Company assumes no obligation to
update the cautionary information in this release.
Kevin McGrath
2123899782 ext. 101
kevin@tradigitalir.com