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MetaWorks Platforms, Inc. (OTCQB: MWRK) has acquired the assets of FogDog Energy Solutions, Inc. (FDE), exchanging its debt in full. This acquisition aims to fast-track the launch of MetaWorks' waste-to-energy business through its subsidiary, EnergyWorks Corp. The deal includes an MOU with an Oklahoma municipality, serving as the foundation for the new venture.
MetaWorks expects to begin revenue-generating operations by Q4 2024 and plans to roll out additional waste-to-energy locations in 2025. The company will also enter a business development agreement with the FDE team to focus on growth. This move aligns with global concerns about plastic recycling, as only 9% of plastic produced annually is recycled, according to an OECD report.
MetaWorks Platforms announced an agreement with EnergyFX to manage waste-to-energy conversion site operations as the company prepares for commercialization in Q4 2024. MetaWorks aims to tackle plastic waste issues, partnering with EnergyFX, which brings 25 years of operational and environmental experience. The partnership aims to build a sustainable and profitable business addressing plastic waste in the US. MetaWorks is in discussions with several potential site locations and feedstock providers, with further details to be disclosed as projects materialize.
MetaWorks Platforms announced its new subsidiary, Energy Works, Inc. (EWI), which will convert plastic waste into diesel fuel using cutting-edge technology. Set to launch in Q4 2024, EWI aims to address the global plastic crisis by transforming non-recyclable plastics into high-quality diesel, reducing environmental harm and reliance on fossil fuels. The technology leverages advanced pyrolysis and catalytic conversion to break down plastic polymers, offering a cost-effective and efficient waste management solution. The initiative is part of MetaWorks' broader commitment to sustainability and the circular economy.
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