Total Multi-Year Contract Value Could Exceed $1.5 Billion
HOUSTON, Feb. 20, 2023 /PRNewswire/ -- One of Ecogensus' operating companies closed a licensing and supply deal valued at over $120+ million and centered around Ecogensus' patented waste recycling systems.
Ecogensus is a technology company focused on sustainable resources, products derived from waste materials, and novel recycling systems. Ecogensus holds over 80 issued patents and has its core patents already granted in 14 of the G20 markets. The company's IP portfolio spans more than a dozen distinct families ranging from waste processing to machinery designs to innovations in sustainable materials science.
The contract, which is limited to a specific territory, represents a pivotal transition for the region following market testing of Ecogensus' technology solutions and first deployment of Ecogensus' recycling technology in western Europe in late 2019 along with announcements in 2019 and 2020 regarding U.K. project development. Ecogensus saw progress in the EU/UK halted due to COVID-19 but has since resumed.
The deal highlights Ecogensus technology's broader potential in equipment supply and licensing fee revenues. Beyond the initial value, growth within the limited region at even a modest market penetration level (<10%) could yield $1.5+ Billion to the Ecogensus company.
Importantly, the deployment and operation of Ecogensus equipment under this deal could see major carbon reduction benefits ranging from 144 million tons CO2e to 1.7 gigatons CO2e from this region alone depending on system deployment level. Stopping waste from entering landfills has a significant greenhouse gas reduction benefit, since landfills are the third largest anthropogenic source of methane. Policymakers and industry leaders are increasingly focused on methane reduction, since it is more than 25 times as potent a greenhouse gas as carbon dioxide, according to the U.S. Environmental Protection Agency.
"This agreement reinforces the operational performance capability of Ecogensus technologies that have already secured long term performance guarantee backing at Lloyds of London," said Frank Harris, President of the Ecogensus operating company. "We look forward to seeing the benefits of the technology in this region and continuing with our mission to transform the way every country in the world manages its wasted resources whilst mitigating gigatons of CO2e in the process."
Ecogensus is helping to drive the resource revolution - using advanced technologies and transformative solutions to end waste. Our innovations enable sustainable, efficient, economical and safe waste management alternatives that empower societies to move away from dumping and landfilling. Our solutions create building materials, beautiful consumer products, and valuable bioenergy from waste. For more information please visit: https://ecogensus.com
This news release includes "forward-looking statements" which are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) adverse effects from economic, business or competitive factors, (2) the licensee's ability to perform under the contract and execute its business plan, (3) changes in applicable laws or regulations, (4) production and/or supply chain disruptions, and (5) other general risks and uncertainties that affect similar businesses, including changes in the capital markets, effects of future legal or regulatory proceedings, the ability to attract and retain key employees, and other factors too numerous to list. No one should place any reliance on this press release and nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved. Ecogensus does not undertake, and expressly disclaims, any duty to update these forward-looking statements, except as otherwise required by applicable law.
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