Empire Diversified Energy's Subsidiary Petro Empire Liquids and Storage LLC. Completes its purchase of the Koppers Facility in Follansbee, West Virginia
Empire Diversified Energy Inc. (OTCQB: MPIR) has announced the completion of its purchase of the Koppers facility in Follansbee, WV, through its subsidiary, Petro Empire Liquids and Storage, LLC. This acquisition aligns with the company's strategy to develop an integrated energy and logistics terminal complex on the Ohio River near Pittsburgh, PA. The 35-acre site will be utilized to enhance its petrochemical storage and distribution capabilities. President Scotty Ewusiak expressed optimism about expanding their tank farm and water treatment facility at this location, emphasizing the project's timely nature.
- Acquisition of 35-acre Koppers facility enhances petrochemical storage capacity.
- Strategic development on Ohio River supports logistics and distribution growth.
- Management is optimistic about future expansion of tank farm and water treatment facilities.
- Project faces risks including delays in permits and insufficient capital.
- Potential for unexpected construction delays affecting project timelines.
FORT LAUDERDALE, Fla., Feb. 23, 2021 /PRNewswire/ -- Empire Diversified Energy Inc., (OTCQB: MPIR), a diversified energy and logistics company today announced that Petro Empire Liquids and Storage, LLC (Empire), a wholly-owned subsidiary of Empire Diversified Energy, Inc., completed its purchase of the Koppers facility in Follansbee, WV.
As part of Empire's previously announced strategy to develop an integrated energy and logistics terminal complex on the Ohio river just west of Pittsburgh PA, Empire has now acquired the 35- acre Koppers facility and will now begin to develop its petrochemical storage and distribution capabilities at this site.
Empire's President, Scotty Ewusiak said "We are very excited about this project and look forward to expanding our tank farm project and water treatment facility. I think the timing for this project could not be any better than it is now. This only the beginning of what we have planned for this site."
About Empire Diversified Energy, Inc.
Empire Diversified Energy, Inc. is a full-service company offering logistic and service solutions to the energy industry's dynamic changing needs. The Company's goal, based on years of demonstrable experience, is to develop a network of logistics and storage facilities to promote international sales of petrochemicals.
Statements contained in this communication that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements, including our plan to develop our petrochemical storage and distribution capabilities at the Koppers site and to expand our tank farm project and water treatment facility. These statements reflect current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions including delays in obtaining necessary licenses or permits or government approvals, insufficient capital to finalize projects, and unexpected construction or other delays in building out the facilities as planned. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected, or described pursuant to similar expressions.
For further information contact: Investor Relations - 954-332-2423
www.Empirediversifiedenergy.com
View original content:SOURCE Empire Diversified Energy Inc.
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