Milton, GA - Oct. 10, 2018 - 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.”
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