Empire Diversified Energy Included in ARCH2's DOE Funding for Hydrogen Projects

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Oct 19, 2023, 08:45 ET

FOLLANSBEE, W.Va., Oct. 19, 2023 /PRNewswire/ -- Empire Diversified Energy, Inc. (OTC Markets Pink, Ticker Symbol: MPIR) announced its Anaerobic Digester project in Follansbee, Brooke County, West Virginia will receive funding via Empire's inclusion in the Appalachian Regional Clean Hydrogen Hub (ARCH2). U.S. Department of Energy (DOE) announced last week that ARCH2 was selected as one of seven hydrogen hub projects nationwide to receive funding from DOE's Office of Clean Energy Demonstrations (OCED). Specifically, the ARCH2 consortium is scheduled to receive up to $925 million to advance the development of hydrogen projects in West Virginia, Ohio, western Pennsylvania, and Kentucky. Empire's wholly owned subsidiary, Empire Green Generation, LLC, will oversee the Anaerobic Digester project.

In being selected for this funding, Empire has distinguished itself among significant players in the sustainable-energy space and looks forward to representing the Northern Panhandle in West Virginia's strong history of energy production. This project uses proven technology in an innovative way: using renewable feedstocks to generate green hydrogen that will be used for industrial and transportation fuel.

The vision of Empire's leadership team for establishing a hydrogen-based energy project in Follansbee is now fortified with Empire being selected as a Project Development Partner by ARCH2. The Anaerobic Digester project is just one of several Empire projects in various stages of operation and development that emphasize recycling, brownfields redevelopment, and economic growth while decarbonizing industrial and commercial operations at The Port of West Virginia.

Empire will be presenting project details to stakeholders and local citizens at upcoming public meetings as part of its Community Benefits Plan.

ARCH2 SELECTED FOR THE DEPARTMENT OF ENERGY'S HYDROGEN HUB FUNDING (Press Release)

About Empire Diversified Energy, Inc.

Empire Diversified Energy, Inc (EDE) is a multifaceted holding company with business units in the sustainable energy and logistics sector. Empire Diversified Energy's primary location in Follansbee, WV where it operates the Port of West of Virginia along with its Eco-Industrial Complex. The facility is geographically located along the Ohio River where it serves the crossroads of the East Coast and Midwest through its trimodal facility. EDE is currently deploying a host of innovative proven technologies serving the pathway to clean energy generation. These business units will serve the transportation, waste, steel, warehousing, and other sectors in an effort to help decarbonize the region.

Forward-looking Information

This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 including the benefits of the project and the announcement of further details. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods.

Any such forward-looking statements are not guarantees of performance or results, and involve risks, uncertainties (some of which are beyond Empire's control) and assumptions. Although Empire believes any forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the outcome or results and cause them to differ materially from those anticipated in any forward-looking statements, including the risk factors described from time to time by us in our filings with the U.S. Securities and Exchange Commission. Shareholders, potential investors, and other readers should consider these factors carefully in evaluating the forward-looking statements.

Any forward-looking statement made by Empire in this press release speaks only as of the date on which it is made. Empire undertakes no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

SOURCE Empire Diversified Energy Inc.