MIDLAND, TX / ACCESS Newswire / August 18, 2025 / Waste Energy Corp (OTCQB:WAST), a clean energy company converting waste plastic and tires into marketable fuels and other valuable products, today announced the successful closing of agreements to reduce more than $1 million of debt obligations.
The Company finalized transactions on Friday, August 15, 2025, eliminating $1,005,726 in debt through a combination of debt restructuring, forgiveness, and the issuance of 3,414,760 restricted common shares. The shares were issued at an aggregate value of over $0.29 per share in the debt exchange, with all agreements including trading restrictions of at least 90 days.
"This milestone reflects our continued long term commitment to strengthening the Company's balance sheet while preserving shareholder value," said Scott Gallagher, Chief Executive Officer of Waste Energy Corp. "Reducing liabilities by more than $1 million positions us to focus resources on scaling operations, advancing our technology, and driving growth."
Management noted that the Company is in active discussions on additional debt reduction initiatives, with the goal of reducing total debt to below $2 million by quarter-end as part of its strategy to enhance financial flexibility and accelerate progress toward sustained profitability.
About Waste Energy Corp
Waste Energy Corp (OTCQB:WAST) is transforming waste into opportunity by converting non-recyclable plastics and used tires into clean, U.S.-based energy sources. Through the integration of advanced waste conversion and AI technologies, the company seeks to divert waste from landfills and convert it into new U.S.-based energy streams that generate measurable environmental and economic value.
Waste Energy Corp is a fully reporting SEC Exchange Act company, trading on the OTCQB under the ticker symbol WAST. For more information, visit www.WEC.eco or access investor disclosures at www.SEC.gov.
Forward-Looking Statements
This press release and any other publicly disclosed content contain forward-looking statements regarding Waste Energy Corp's business operations, future financial performance, and projections. These statements are subject to various risks and uncertainties, including market conditions, regulatory approvals, and other factors outside of the control of WEC, which may impact actual results. Investors are encouraged to review all risk factors and disclosures in the company's public filings with the Securities and Exchange Commission, including the Company's quarterly and annual financial statements at www.SEC.gov, before making any investment in a publicly traded equity.
Investor Contact:
Waste Energy Corp
Email: IR@WEC.eco
Phone: (727) 417-7807
Website: www.WEC.eco
SOURCE: Waste Energy Corp.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/clean-technology/waste-energy-corp-closes-deal-to-reduce-its-debt-by-1-million-1062016
