Company to Begin Waste to Energy Conversion Operations by Q4
Fairfield, CA., Aug. 23, 2024 (GLOBE NEWSWIRE) -- MetaWorks Platforms, Inc. ("MetaWorks" or the "Company"), ( MWRK), an award-winning technology focused company, today announced that it has acquired the assets of FogDog Energy Solutions, Inc., (FDE). MetaWorks had previously made investments into FDE and this asset acquisition allows the Company to exchange its debt in full. The Company now seeks to use the acquired assets to quickly scale its new waste-to-energy business through its wholly owned subsidiary, EnergyWorks Corp.
MetaWorks President Scott Gallagher stated, “We’re thrilled to have completed this transaction. Acquiring Fog Dog's assets will fast-track the launch of our waste-to-energy business. Notably, this deal includes an MOU with an Oklahoma municipality that will serve as the foundation for our new venture.” Gallagher went on to say, “With this deal now completed, we expect to begin revenue generating operations by the fourth quarter. Furthermore, we will enter into a business development agreement with the FDE team as part of the deal, focused on growing the business. As we solidify our foundation, we look forward to rolling out additional waste-to-energy locations in 2025.”
Globally, only about 9% of the plastic produced each year is recycled. This according to a report filed by the OECD. The report stated that-Plastic consumption has quadrupled over the past 30 years, driven by growth in emerging markets. Global plastics production doubled from 2000 to 2019 to reach 460 million tonnes. Plastics account for 3.4% of global greenhouse gas emissions.
Company Contact:
Scott Gallagher, President
(727) 417-7807
[email protected]
About MetaWorks Platforms, Inc.
MetaWorks Platforms, Inc. ("MetaWorks" or the "Company"), ( MWRK), is an award-winning, future technology company that develops and leverages future technologies to build products, platforms and businesses that solve real world and future technology problems. MetaWorks Platforms trades on the OTCQB market, over the counter, under the ticker symbol: MWRK. MetaWorks is an SEC exchange act, fully reporting company.
For more information on MetaWorks Platforms, please visit us at www.MetaWorks.ai and our wholly owned subsidiary EnergyWorks, Inc. at www.EnergyWorks.Tech For additional investor or financial information visit www.SEC.gov.
