$COWI CarbonMeta Technologies Announces Third Quar
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Posted On: 08/07/2023 10:43:32 AM
$COWI CarbonMeta Technologies Announces Third Quarter Financial Guidance
https://www.globenewswire.com/news-release/20...dance.html
Subsidiary Spin-Off, Carbon Conversion Group, Ramps Up Operations and Sales
Murfreesboro, TN, Aug. 07, 2023 (GLOBE NEWSWIRE) -- CarbonMeta Technologies, Inc. (“CarbonMeta”, OTC PINK:COWI) today announced its 3rd quarter financial guidance, highlighted by revenues from Carbon Conversion Group, Inc., the planned spin-off company that CarbonMeta announced earlier this year.
The spin off company, Carbon Conversion Group, Inc. (CCG), is projected to realize revenues of at least $600,000 resulting from the sale of solar panels and EarthCrete® pavers that will be used for a solar power project in Colorado. These revenues stem from a purchase order, which was initially announced in May 2022, for the delivery of EarthCrete™ Cementless Concrete intended for utilization in solar panel projects for both commercial and residential purposes.
“We are very pleased that CCG has substantially begun growing revenues by scaling up operations for the delivery of solar panels,” said Bob Doherty, President and CEO of Carbon Conversion Group. “We look forward to CCG scaling up the unique technologies and patents that have been developed by CarbonMeta Technologies, including microwave catalysis for transforming waste plastics into valuable resources, and producing carbon negative EarthCrete.”
Carbon Conversion Group has been actively engaging with city and state officials to explore cooperative development opportunities for an innovative waste remediation facility in Tennessee. This facility would process landfilled designated plastic waste using cutting-edge technologies developed in cooperation with CarbonMeta Technologies, ultimately transforming the waste plastics into sustainable hydrogen gas and high-value carbon products. By forging these partnerships with local and regional authorities, Carbon Conversion Group is committed to addressing critical environmental challenges and contributing to a more sustainable future.
As announced earlier, CarbonMeta Technologies’ shareholders will receive 1 common share of Carbon Conversion Group stock for every 3,000 common shares of CarbonMeta Technologies common stock (OTC PINK:COWI) owned on the record date of June 23, 2023. The anticipated distribution date ("Distribution Date"
for the distribution of shares of Carbon Conversion Group to CarbonMeta Technologies’ shareholders will be in the third quarter of 2023 (Q3-2023). The two companies expect to maintain a strong commercial relationship, preserving a key value proposition for clients of both businesses.
https://www.globenewswire.com/news-release/20...dance.html
Subsidiary Spin-Off, Carbon Conversion Group, Ramps Up Operations and Sales
Murfreesboro, TN, Aug. 07, 2023 (GLOBE NEWSWIRE) -- CarbonMeta Technologies, Inc. (“CarbonMeta”, OTC PINK:COWI) today announced its 3rd quarter financial guidance, highlighted by revenues from Carbon Conversion Group, Inc., the planned spin-off company that CarbonMeta announced earlier this year.
The spin off company, Carbon Conversion Group, Inc. (CCG), is projected to realize revenues of at least $600,000 resulting from the sale of solar panels and EarthCrete® pavers that will be used for a solar power project in Colorado. These revenues stem from a purchase order, which was initially announced in May 2022, for the delivery of EarthCrete™ Cementless Concrete intended for utilization in solar panel projects for both commercial and residential purposes.
“We are very pleased that CCG has substantially begun growing revenues by scaling up operations for the delivery of solar panels,” said Bob Doherty, President and CEO of Carbon Conversion Group. “We look forward to CCG scaling up the unique technologies and patents that have been developed by CarbonMeta Technologies, including microwave catalysis for transforming waste plastics into valuable resources, and producing carbon negative EarthCrete.”
Carbon Conversion Group has been actively engaging with city and state officials to explore cooperative development opportunities for an innovative waste remediation facility in Tennessee. This facility would process landfilled designated plastic waste using cutting-edge technologies developed in cooperation with CarbonMeta Technologies, ultimately transforming the waste plastics into sustainable hydrogen gas and high-value carbon products. By forging these partnerships with local and regional authorities, Carbon Conversion Group is committed to addressing critical environmental challenges and contributing to a more sustainable future.
As announced earlier, CarbonMeta Technologies’ shareholders will receive 1 common share of Carbon Conversion Group stock for every 3,000 common shares of CarbonMeta Technologies common stock (OTC PINK:COWI) owned on the record date of June 23, 2023. The anticipated distribution date ("Distribution Date"
for the distribution of shares of Carbon Conversion Group to CarbonMeta Technologies’ shareholders will be in the third quarter of 2023 (Q3-2023). The two companies expect to maintain a strong commercial relationship, preserving a key value proposition for clients of both businesses.
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