EMPIRE DIVERSIFIED ENERGY CLOSES $40 MILLION FINANCING TO COMMISSION RECYCLING PLANT IN WEST VIRGINIA
FORT LAUDERDALE, Fla., June 8, 2023 /PRNewswire/ -- Empire Diversified Energy, Inc. (OTC Pink: MPIR) (the "Company") announced today that its wholly owned subsidiary, Empire Green Generation, LLC, has closed on its financing of forty million dollars ($40,000,000) through the sale of Solid Waste Disposal Facilities Revenue Bonds (Empire Green Generation, LLC Project) Series 2023 with the West Virginia Economic Development Authority. This financing will be used to complete the construction of the recycling plant at the Company's riverfront complex of the 'Port of West Virginia' in Follansbee, West Virginia (the "Port").
The plant will recycle plastics and other recyclable waste products into renewable electricity for the Port and its surrounding area, and will be using high efficiency, state-of-the-art, pyrolysis technologies in its operations. The facilities of the plant will include a newly constructed 30,000 square foot all-weather building to house the pyrolysis equipment, and a repurposed 20,000 square foot structure to support the feedstock storage.
The Company's Chief Executive Officer Frank Rosso stated: "We are very pleased to bring this cutting-edge technology to the State of West Virginia and are committed to our efforts of environmentally friendly and economically sustainable growth at the Port of West Virginia. We believe Empire Green Generation will be an industry leader in waste-to-energy recycling and are excited about its future. We thank our entire Empire team, the West Virginia Economic Development Authority, and our lenders for their continual support through our growth in a very difficult market; we will continue to provide Stakeholders with updates as the plant comes online
For more information, please visit the Company's website: https://www.empirediversifiedenergy.com
About Empire Diversified Energy, Inc.
Empire Diversified Energy, Inc. is a fully integrated company offering recycling, logistics, energy production, and remediation services helping to promote a safer and more sustainable environment. The Company has proven and demonstrated experience in helping to shape the green environment, and continues to transform and grow through energy production, manufacturing, and other further development at the Port of West Virginia.
Forward-looking Information
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 including the benefits of the project and the announcement of further details. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods.
Any such forward-looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond Empire's control) and assumptions. Although Empire believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the outcome or results and cause them to differ materially from those anticipated in any forward-looking statements, including the risk factors described from time to time by us in our filings with the U.S. Securities and Exchange Commission. Shareholders, potential investors, and other readers should consider these factors carefully in evaluating the forward-looking statements.
Any forward-looking statement made by Empire in this press release speaks only as of the date on which it is made. Empire undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
www.empirediversifiedenergy.com
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SOURCE Empire Diversified Energy Inc.
