Empire Diversified Energy, Inc.'s Subsidiary, Empire Trimodal Terminal, LLC., To Operate As 'The Port Of West Virginia'

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Mar 30, 2021, 09:00 ET

FORT LAUDERDALE, Fla., March 30, 2021 /PRNewswire/ -- Empire Diversified Energy, Inc. (OTCQB: MPIR) announced today that after an extensive feasibility process with the State of West Virginia, its wholly owned subsidiary Empire Trimodal Terminal, LLC. will be authorized to operate as "The Port of West Virginia."

Frank Rosso, the CEO of Empire Diversified, spoke to the continuing sequence of stages in Empire's plan for business development in West Virginia: "We are very excited about this opportunity to represent the great State of West Virginia. Our plan to build a multifunctional inland water port terminal is already in progress."

Empire recently completed a $26 million bond issuance with the West Virginia Economic Development Authority for Dock and Wharf Development on the Ohio River in Follansbee, WV. "With over five miles of existing rail on our site and truck access to the Midwest, we intend to expand our current operations by adding a breakbulk container terminal on the South Terminal property."

Current economic conditions have created a positive environment for this type of development: "The completed expansion of the Panama Canal has seen oversize Post Panamax ships (24,000 containers) coming into the United States every day. This expansion has created a need for new inland water terminals to accommodate this increasing traffic and assist in distribution. We believe Empire, through 'The Port of West Virginia,' is perfectly positioned to take advantage of this opportunity, both in terms of inbound and outbound container movement."

About Empire Diversified Energy, Inc.

Empire Diversified Energy, Inc. is a multi-faceted energy and logistics company. Geographically situated in the heart of the energy and raw material nexus of WV/PA/OH/KY, with barge and rail capabilities on its properties on the Ohio River, Empire Diversified Energy can provide a vast array of energy services and sources to energy buyers and sellers.

Empire Diversified Energy has continued implementing the vertically integrated plan to expand its operations by developing and investing in its existing relationships and business partnerships. We are currently seeking to expand those partnerships and seek new mergers and acquisitions that enhance the Empire strategy.

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SOURCE Empire Diversified Energy Inc.