Attis Industries Looks to Expand Production and Add Approximately $160M in Revenues with Recent Acquisition

Management Aims to Setup a World-Class Green Tech Campus in New York

The Company aims to harness their proprietary technology through multiple biomass processing facilities to cater to the rising demand of ethanol, carbon fibre, and other products.

MILTON, GA, March 04, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Attis Industries (ATIS) took its first big step in the field of renewable energy when the Company acquired the ethanol production facility of Sunoco LP in Fulton, New York. Through its renewable energy vertical known as Attis Innovations, the company is working towards disrupting the fossil fuel industry by revolutionizing the processing of biomass in order to sustainably produce ethanol and other bi-products. Attis Innovations not only seeks to achieve cost advantage and profitability with their novel technologies, but to also preserve the environment via their ongoing efforts to create shared value for stakeholders. The recently acquired Fulton plant currently has the capability to produce 85 million gallons of ethanol and other products like CO2, dried distilled grains, and corn oil. 

The output of the Fulton plant represents Attis potentially adding over $160 million in revenues based on the following projections:

·      85 Million gallons of Ethanol @ ~ $1.39 = $118,150,000

·      350 Million pounds (175,000 TONS) of CO2 @ $10 per ton = $1,750,000

·      480 Million pounds of Dried Distilled Grains @ $0.08 per pound = $38,400,000

·      1.5M Gallons of Corn Oil @ $1.73 per gallon = $2,600,000

Attis’ acquisition journey has just commenced and the management team, led by CEO Jeffery Cosman, intends to purchase additional land of approximately 300 to 400 acres near the current 134-acre Fulton facility with the goal of building a world-class green tech campus. The additional land will be used for setting up a biodiesel plant that can use the corn extract produced as a bi-product from the ethanol facility to create biodiesel. The Company also plans to establish a bio-refinery within the same campus, which will effectively result in the creation of more than 300 jobs. As of today, the management team is working towards streamlining processes and eliminating bottlenecks within the ethanol facility, which is expected to increase the output of the plant by about 20% and enable the plant to produce around 100 million gallons of ethanol each year; an increase of 15 million gallons of ethanol, which represents a projection of an additional $20 million plus of revenue. Over a long-term horizon, the management also plans to add a solar project and a wind energy project near the same site.

The operations facilities of Attis Innovations are expected to be geographically diversified as the management intends to set up or acquire additional ethanol plants in other US states such as Georgia, Florida, and South Carolina over the next two years. The Company is also looking at international expansion through strategic partnerships with companies in various countries such as Malaysia, Indonesia, Philippines, Brazil, UK, Argentina, and Canada.

The research and development activity of Attis is in full swing, as there are a number of potential patents in the development pipeline. The Company anticipates a very strong opportunity in the carbon fibre market, which Attis can enter through the use of its proprietary technology to extract better cellulosic value as well as lignin from biomass. The company is developing the capability to produce high-quality carbon fibre with a good tensile strength through the lignin extracted through biomass processing. Being significantly lighter and stronger than steel, carbon fibre has immense application in the automobile, aeronautical, and aerospace industries. 

CEO Jeff Cosman notes, “Having a significant cost advantage with respect to the production of carbon fibre through biomass is not the only benefit of Attis’ technology. We are able to produce high-quality carbon fibre without releasing more carbon into the atmosphere unlike fossil fuels. Our ways are not only more cost-effective but also more beneficial to the environment.”

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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. 

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.