President Trump’s Ethanol Expansion has Immediate Positive Impact on Attis Industries
October 10 2018 - 8:30AM
via NEWMEDIAWIRE -- Attis Industries Inc. (NASDAQ: ATIS) (the
“Company” or “Attis”), a diversified innovation and technology
holding company emphasizing renewable fuels, bio-based plastics,
healthcare and communications infrastructure, today announced its
support and gratitude for the Trump Administration’s planned
removal of restrictions limiting the amount of ethanol blended into
gasoline.
President Trump directed the U.S. Environmental
Protection Agency to initiate rule-making to allow for the
unrestricted use of gasoline with 15% ethanol, or E15, and to
reform biofuels credit trading rules to provide greater
transparency and reduced volatility. Once implemented, the changes
are expected to increase the demand and use of corn and cellulosic
ethanol while boosting incomes for American farmers and rural
economies.
Jeff Cosman, the Company’s Chief Executive
Officer, explains, “The increased inclusion allowance plays a vital
role in the expansion of renewable fuel production. The
timing couldn’t be better for Attis as we plan to build our first
of many biorefineries that will produce cellulosic ethanol and
biobased materials. Without the allowance, every gallon
of cellulosic ethanol produced by Attis would effectively displace
a gallon of ethanol otherwise produced from corn. The new
platform will instead allow biobased ethanol to compete with
petroleum derived fuels and level the playing
field. This is extremely exciting to us given our
biorefinery acquisition and construction plans.”
Attis previously announced plans to build
shareholder value by using its portfolio of patented and
patent-pending technologies in the acquisition and construction of
a national network of biorefineries designed to convert and refine
locally-available biomass resources (including corn stover, corn
ethanol co-products, wood, and other forms of biomass) into
cost-competitive cellulosic ethanol and drop-in fuels, as well as
an array of renewable alternatives to plastics, adhesives and other
fossil-fuel derived products.
Cosman continued, “The U.S. renewable fuel
industry has only just begun to realize its potential. Today
ethanol is the cheapest form of transportation fuel, as it is about
$0.80 per gallon less expensive than gasoline on an volumetric
basis and more than $0.30 per gallon less expensive on an energy
basis, yet the 10% limitation has prevented the consumer and farmer
from enjoying this substantial advantage. The expansion
to E15 will open the door to increased renewable fuel consumption
and is ideally suited for Attis as we plan to launch our cellulosic
biorefinery platform. We are confident that our suite of
technologies will allow us to produce more fuel and revenue from
corn or biomass than any renewable fuel technology platform that
precedes us. President Trump’s announcement comes at the perfect
time as we begin to implement our biorefinery plans, including
construction of new ethanol production at our previously-announced
Barnesville, Georgia biorefinery, and our planned acquisition and
upgrades to an existing first generation corn ethanol facility in
2019.”
About 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 America’s GDP. For more information,
visit: www.attisind.com.
Forward-Looking StatementsAny statements
contained in this press release that do not describe historical
facts may constitute forward-looking statements as that
term is definedin 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 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’ actual results may differ materially
from the expectations that Attis describes in its forward-looking
statements. Factors or events that could cause Attis’ actual
results to differ materiallymay 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.
Media and Investors Contact:
Hayden IR
(917) 658-7878
hart@haydenir.com
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