Company has closed on the first tranche of $175,000
FAIRFIELD, CA / ACCESS Newswire / February 18, 2025 / Waste Energy Corp ("Waste Energy" or the "Company"), (OTCQB:WAST), an emerging waste-to-energy (WTE) company at the forefront of sustainable innovation, dedicated to diverting plastic and tires waste streams from oceans, streams, nature and food supplies, announced that it has successfully closed the first tranche of $175,000 of a non-dilutive issuance of non-convertable preferred shares financing of up to $750,000 to complete its first waste-to-energy conversion facility in Fayetteville, North Carolina. The capital will be used to finalize the build-out of the site, which is expected to be fully operational by June 1, 2025, pending completion of the site build-out, permitting and compliance approvals.
Waste Energy Corp CEO, Scott Gallagher commented, "The Fayetteville facility represents a major milestone in Waste Energy Corp's strategy to transform waste into profit by converting discarded plastic waste into clean, U.S.-produced fuel. Expected to generate between $1.5 million and $5 million in revenue in its first full year of operation, this facility positions the company for strong financial growth while advancing its sustainable energy solutions."
Gallagher went on to say "This funding marks a pivotal milestone in launching our first waste-to-energy facility into full operation and revenue generation by Q2. It underscores our commitment to delivering profitable, sustainable solutions while positioning Waste Energy Corp for significant growth in the waste to energy sector." Gallagher continued, "With the support of our investors and stakeholders, we are accelerating our mission to create a cleaner future by ensuring that every single piece of plastic we touch and process is diverted from landfills, converted into usable fuel, and fully removed from the plastic waste ecosystem."
Waste Energy Corp's pyrolysis technology is designed to efficiently transform waste materials, specifically waste plastic and tires, into valuable energy sources by diverting, converting and removing every piece of plastic it touches from the waste ecosystem. By developing this first facility, the company is demonstrating the commercial viability of its technology and paving the way for future expansion.
The company continues to actively pursue additional partnerships and strategic investments to scale its operations and expand its impact in the waste-to-energy sector.
For more information about Waste Energy Corp, please visit www.WasteEnergyCorp.com.
Company Contact:
Scott Gallagher, CEO
Waste Energy Corp
(727) 417-7807
Scott@MetaWorksPlatforms.io
About Waste Energy Corp
Waste Energy Corp is committed to redefining waste as an asset and to reducing the volume of non-recyclable waste in landfills and incinerators. Specializing in the conversion of waste plastics and used tires into clean diesel fuel. The company will combine AI & Pyrolysis technologies to reduce the volume of plastic and tire waste in landfills while developing a new, clean, US based energy source.
Waste Energy Corp. trades on the OTCQB market, over the counter under the ticker symbol: WAST. Waste Energy Corp is an SEC exchange act, fully reporting company. For more information on Waste Energy Corp, please visit www.WasteEnergyCorp.com. For additional investor or financial information visit: www.SEC.gov.
Forward-Looking Statements
This press release contains forward-looking statements regarding Waste Energy Corp's business operations and future financial performance and projections. These statements are subject to various risks and uncertainties, including market conditions and regulatory approvals and other factors outside of the control of WEC, which may impact the actual results. Investors are encouraged to review all risk factors and results disclosed in the company's public filings with the Securities and Exchange commission at www.SEC.Gov.
SOURCE: Waste Energy Corp.
