Waste Energy Corp Embarks on Mission to Divert, Convert & Eliminate Plastic Waste Through Clean Energy Innovation
Rhea-AI Summary
Waste Energy Corp (OTCQB:WAST) has signed a binding letter of intent to establish its first waste-to-energy conversion site in Fayetteville, North Carolina. The facility, spanning up to 26,000 square feet, will have the capacity to divert and convert up to 30 tons of plastic waste daily and is expected to be operational and revenue-generating by Q2 2025.
The Fayetteville location was strategically chosen for its position along the primary Eastern United States rail line and access to the I-95 corridor. The facility will utilize pyrolysis and AI technology to convert plastic waste into clean energy alternatives, addressing the critical issue of plastic waste management while reducing dependency on traditional oil sources.
The initiative comes amid concerning statistics: only 5% of plastic waste in the US is recycled, while over 86% ends up in landfills. Globally, over 400 million tons of plastic waste are generated annually, with just 9% being effectively recycled.
Positive
- Secured first facility with 26,000 square feet capacity
- Facility capable of processing 30 tons of plastic waste daily
- Revenue generation expected to begin Q2 2025
- Strategic location with access to major transportation routes
Negative
- Pre-revenue stage with no current operations
- Significant capital investment likely needed for facility buildout
- Execution risk in new, unproven operations
News Market Reaction
On the day this news was published, WAST gained 16.67%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company Secures First Waste-to-Energy Conversion Site in Fayetteville, North Carolina
FAYETTEVILLE, NC / ACCESS Newswire / February 13, 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 stream from oceans, streams, nature and food supplies, proudly announced that it has signed a binding letter of intent to secure and build out its first waste-to-energy conversion site in Fayetteville, North Carolina. The move marks the first step in a long journey to divert, convert, and utilize plastic waste streams as a fuel source-permanently removing it from the cycle that pollutes America's landfills, oceans, and waterways. The Fayetteville facility is expected to be fully operational and revenue generating by the second quarter of 2025.
"Our commitment to play our part in a cleaner planet and a more sustainable future is taking a giant leap forward with the opening of the Fayetteville facility," said Scott Gallagher, Chairman and CEO of Waste Energy Corp. "We are thrilled to have secured up to 26,000 square feet of space to build out and operate our first waste-to-energy conversion site. The Fayetteville location will be able to divert and convert up to 30 tons of plastic waste per day. We are turning plastic waste into an asset, demonstrating that environmental responsibility and business profitability can go hand in hand."
Gallagher went on to say, "Fayetteville's strategic location along the primary rail line serving the Eastern United States-from Florida to Maine-combined with its access to the vital I-95 corridor, made it a prime choice as we meticulously mapped out and searched for the ideal location. Our project is launching at a pivotal moment when both the nation and the world are facing an escalating crisis in plastic waste management and energy sustainability. Now, more than ever, innovative solutions like ours will be essential to driving real change."
Rob Patton, Executive Vice President of FCEDC (Fayetteville Cumberland Economic Development Corporation) stated, "As a growing center of innovation, this is an excellent example of cutting-edge technology addressing a global need. We are proud to welcome Scott and Waste Energy Corp. to Fayetteville and Cumberland County."
Plastic Waste by the numbers:
Only around
5% of plastic waste in the US is recycled.Over
86% of plastic waste in the US is sent to landfills.In the time it took you to watch the Super Bowl (3.5 hours), North Carolinians sent approx. 978,092 plastic drink bottles to a landfill.
Globally, over 400 million tons of plastic waste are generated annually, with only
9% effectively recycled.The United States alone discards nearly 40 million tons of plastic waste per year, with over
85% ending up in landfills or the environment.If left unchecked, experts estimate that by 2050, there will be more plastic in the ocean than fish by weight.
Through its innovative use of pyrolysis and AI technology, Waste Energy Corp aims to significantly divert plastic waste from America's landfills while producing net clean energy alternatives, reducing dependency on fracking & middle east oil sources, and permanently eliminating plastic waste from polluting ecosystems.
The Fayetteville site is just the beginning. Waste Energy Corp's long-term vision includes expanding its waste-to-energy operations and its impact nationwide.
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.
ABOUT FCEDC
The Fayetteville Cumberland County Economic Development Corporation is a public-private partnership designed to enhance job growth and prosperity in the region by attracting new industry while growing and retaining existing industry. The FCEDC works daily to help strengthen our economy and diversify our community tax base. Learn more at www.fcedc.com.
SOURCE: Waste Energy Corp.
View the original press release on ACCESS Newswire
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