Company signs non-binding LOI to acquire a 10 acre tire processing center while previously announced Midland facility expansion remains on track for closing
MIDLAND, TX / ACCESS Newswire / September 21, 2026 / Waste Energy Corp. (OTCID:WAST) ("Waste Energy," "WEC" or the "Company"), an emerging waste-to-energy and environmental infrastructure company, today provided an update on two strategic initiatives that could significantly expand the Company's operating footprint and future revenue platform.
Waste Energy has entered into a signed non-binding Letter of Intent ("LOI") relating to the potential acquisition of an established tire processing operation and associated real estate and operating assets.
The contemplated transaction has a proposed purchase price of approximately $1.2 million and includes an approximately 10-acre industrial property together with operating assets associated with the business. Under the contemplated structure, Waste Energy would own 51% of the acquisition entity.
Based upon preliminary operating plans and information currently available to management, WEC believes the operation could have the potential to process approximately 3 million to 5 million tires annually and generate approximately $3 million to $5 million in annual revenue if the transaction is completed and the operation achieves anticipated processing levels.
The LOI is expressly non-binding with respect to completion of the acquisition, and there can be no assurance that definitive agreements will be executed or that the proposed transaction will close. The parties have entered a period of due diligence, financing and definitive-document negotiations before any binding acquisition obligation would arise.
"Opportunities of this potential scale are exactly why we have remained focused on building Waste Energy as an environmental infrastructure company rather than around a single facility or technology," said Scott Gallagher, Chairman and CEO of Waste Energy Corp. "If completed, this transaction could significantly increase the number of tires moving through the WEC platform and create another meaningful source of operating revenue."
Because of the potential materiality of the transaction and the number of parties involved in the process, Waste Energy determined that disclosure of the signed LOI was appropriate for its shareholders.
To protect the transaction while negotiations and due diligence continue, WEC is not identifying the business, its location or other information that could reasonably identify the proposed acquisition target.
The Company also does not intend to provide additional interim commentary regarding the proposed acquisition. WEC expects its next announcement concerning the transaction to occur when definitive closing documents have been executed or if the Company determines that it will not proceed with the acquisition.
Midland Expansion Remains on Track
At the same time, Waste Energy continues to advance its previously announced expansion of the Company's flagship Midland, Texas waste conversion campus.
The Company remains on track to close the previously announced expansion transaction, which is expected to substantially increase the physical footprint available for WEC's waste processing, tire handling and future conversion operations.
Waste Energy expects to provide shareholders with additional information regarding the expanded Midland campus after the transaction has closed.
"Our strategy continues to come together around scale," Gallagher added. "We are advancing our Midland operations while simultaneously pursuing opportunities that can add real estate, processing capacity, operating infrastructure and revenue to the WEC platform. We believe these initiatives, if successfully completed, can move Waste Energy into a substantially larger phase of its development."
Waste Energy continues to advance the final commissioning of its initial waste conversion system at Midland as the Company works toward expanded commercial operations and evaluates additional opportunities that complement its waste-processing and resource-recovery strategy.
About Waste Energy Corp.
Waste Energy Corp. is developing waste processing and conversion infrastructure designed to transform waste streams into commercially valuable products. Through its operations in Midland, Texas, the Company is building an integrated platform focused initially on waste tire collection, processing, recycling and conversion, with the goal of expanding its capabilities and geographic footprint as operations develop.
For more information, visit www.wec.eco.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements regarding the proposed acquisition, completion of due diligence and definitive agreements, potential processing volumes and revenues, the anticipated ownership structure of the proposed acquisition, completion of the Midland expansion transaction, commissioning activities, future commercial operations, expansion plans and the Company's broader business strategy.
The proposed acquisition remains subject to a non-binding Letter of Intent, and there can be no assurance that definitive agreements will be executed or that the transaction will be completed on the terms currently contemplated or at all. Estimates concerning potential tire-processing volumes and revenues are based upon preliminary information, assumptions and management expectations and are not guarantees of future performance.
Forward-looking statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers should not place undue reliance on forward-looking statements. Waste Energy Corp. undertakes no obligation to update forward-looking statements except as required by applicable law.
Investor Relations Contact:
Waste Energy Corp.
Investor Relations Email: IR@wec.eco
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-advances-two-strategic-expansion-initiatives-as-company-builds-larger-1224536
