Missouri based waste management and technology firm, Meridian Waste Solutions’, (NASDAQ: MRDN) wholly-owned subsidiary, Attis Innovations has initiated commercialisation plans for it first biomass processing facility.
In the past month, Attis completed acquisitions which mean that it now holds an exclusive license to American Science Technology Corporation’s (AST) patents and AST’s biomass processing facility in Wausau, WI.
Utilising the acquired intellectual property rights and highly qualified personnel, Attis Innovations plans to take the next step and looks to build its first 60,000 tonne per year commercial production facility in Minnesota.
Attis explained that it has begun evaluating potential feedstocks for conversion into pulp, cellulosic sugars, and AST’s melt-flowing lignin. Of particular interest for its first commercial-scale facility, is the hardwood and softwoods found in northern Minnesota as well as the agricultural crop residues from corn, soybean and wheat growers found in the southern part of Minnesota.
The company noted that collectively, Minnesota generates about 27 million tonnes of forest and agricultural residues each year in addition to having a living tree inventory of about 465 million tonnes.
The Minnesota region is appealing not only for its abundant feedstock opportunities, but also because of the Minnesota AGRI Bioincentive Program.
Through the program, Attis will be able to apply for direct production payments from the state. Attis’s grade of melt-flowing lignin is expected to qualify for a $0.06 per pound payment and, in many cases, Attis’s cellulosic sugars will qualify for $0.03 per pound produced.
According to Attis the incentive program will allow it to offset some of the costs associated with commercializing its advanced processing methods and to decrease the payback period.
Attis believes it will be able to prosper where traditional pulp & paper operations have not as its technologies are capable of converting both cellulose and lignin into a wider variety of marketable products, whereas traditional pulp & paper companies have considerable limitations as a result of the antiquated methods they use.
The company claimed that it is capable of generating between 35% and 100% more revenue than pulp, paper, and cellulosic fuel production facilities.
“This is an exciting time for Attis, its shareholders and those looking to create jobs in rural America,” stated Jeff Cosman, CEO of Meridian Waste. “We look forward to continued updates to our shareholders as we make progress.”
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