Attis Industries Inc (NASDAQ: ATIS) is having an overwhelmingly strong day in the market today after the company announced approval of lead sites for acquisition surrounding the construction of its planned biorefining facilities. The news proved to be exciting to investors, who are sending the stock on a run for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from the stock;
- and what we’ll be watching for ahead.
ATIS Heads For The Top On Site Selection
As mentioned above, Attis Industries is having an incredibly strong day in the market today after announcing news surrounding site selection. In a press release issued early this morning, the company announced that it has approved its lead sites for acquisition and construction of its planned biorefinery facilities.
Ultimately, ATIS has a goal of building a nation-wide network of advanced new biorefineries. These facilities will be designed to convert biomass into renewable alternatives for petroleum-derived fuels, plastics, and other products at far greater efficiencies as compared to the conventional process. To do so, the company will use its accumulated portfolio of patented and patent-pending technologies in the design of the facilities. In a statement, Jeff Cosman, CEO at ATIS, had the following to offer:
America’s rural communities are sitting on vast quantities of overlooked biomass reserves… These are local, Main Street, American towns. They have the feedstock, the infrastructure, the incentives, the talent, and the hunger. They just need the technology.
We’re thinking big in our approach, designing for feedstock tolerance and product optionality to diversify our commodity risk, all at 50% or better improvements in revenue and margins as compared to existing methods. If we do what we think we can do, we’re going bring disruptive changes to these communities.
We’re thankful to have so many state economic development offices supporting our efforts. Each of our proposed facilities will stimulate development for its host community while diversifying revenues and creating about 35 jobs per plant – about 50% of which will be skilled. The proposals we’ve seen to date have been very competitive on that basis. We’re looking forward to making our final selections in the coming weeks and months, as we continue to press forward with rapid growth and strong returns for our shareholders.
In the release, ATIS reminded investors that it is planning on selecting at least 2 sites in 2018. Each of these sites is going to be designed with the goal of efficiently converting biomass into high value, sustainable, and environmentally-friendly products.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of Attis Industries, the news proved to be incredibly positive. After all, the company is one step closer to the construction of its biomass processing facilities, showing that it is on schedule and following through with its plan. So, it’s no surprise to see that the stock is climbing in the market today. At the moment (11:02), ATIS is trading at $0.53 per share after a gain of $0.069 per share or 14.97% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ATIS. In particular, we’re interested in following the story surrounding the company’s goal of creating a network of biomass refineries throughout the United States. Of course, if the dream is realized, it could be an overwhelmingly valuable network. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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