Attis Industries Converts Corn Ethanol Coproducts into Biobased Grocery Bags
Cost-Competitive Biodegradable Alternative to Single-Use Options
MILTON, GA, June 01, 2018 (GLOBE NEWSWIRE) -- Attis Industries, Inc. (NASDAQ: ATIS) (the “Company” or “Attis”), an integrated technology and innovations holding company, today unveiled the first of its planned new ecosystem of biobased products - biodegradable multi-use grocery bags.
Single-Use Immortal Fossil Fuel Sacks
Plastic grocery bags are lightweight, strong, and extremely convenient for shoppers. The U.S. alone consumes about 100 billion of them every year. The vast majority are used once and discarded. They end up as litter, on our streets, in our oceans, or in landfills where they take up to 1,000 years to decompose - out of sight and out of mind.
Year after year, we convert 12 million barrels of fossil fuel into something we use for a few hours and forget about as it contaminates food chains over the span of generations. Most of us would do something about that if we could, if we knew about the issues, and if we knew that we had an alternative ... an affordable, biobased, biodegradable alternative that performed just as good as fossil fuel-based products do.
That is exactly what the Company’s new Genarex subsidiary is developing out of corn ethanol coproducts.
Through its recent investment in Genarex, the Company is able to reduce the cost of expensive compostable bags by introducing its biobased additive packages. The formulations pass the ASTM D6400 biodegradability testing for industrial compostability and have been proven to not interfere with end of life considerations when paired with existing bioplastics. The new formulations can be used in grocery bags, lawn and leaf bags, pet waste bags, and other film solutions, providing the convenience and end of life performance at a price consumers are willing to pay.
“Numerous international governments have imposed initiatives to rid their jurisdictions of single-use bags in an effort to preserve natural resources and avoid irreparable harm to the environment,” said Jeff Cosman, Chief Executive Officer of Attis Industries. “Attis is proud to focus on and offer solutions that do not disrupt consumer behavior while reducing the environmental costs of plastic bag usage, all while offering a substantial cost savings to existing biodegradable alternatives,” stated Cosman.
Attis Industries Inc.
Attis Industries Inc. (NASDAQ: ATIS) is a diversified innovation and technology holding company defined by its commitment to servicing its clients with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding solutions through technology and innovation. Our healthcare business centers on creating community-based synergies through collaborations and software solutions. Our innovation business strives to create value from recovered resources. For more information, visit: www.attisind.com
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in 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 materially differ may 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.
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Released June 1, 2018