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Environment Stock News - SusGlobal Energy Corp. (OTCQB: SNRG) Reports Second Quarter 2023 Financial Results

 

Toronto, Ontario - August 16, 2023 (Newsfile Corp.) (Investorideas.com Newswire) SusGlobal Energy Corp. (OTCQB: SNRG) ("SusGlobal") or (the "Company"), an environmental, agricultural, industrial biotechnology and renewables company, today announced financial results for the second quarter ended June 30, 2023 and provided an update on its operational progress.

Recent Highlights

Revenue increased by 39% during the second quarter of 2023 to $153,487 compared to the second quarter of 2022 in the amount of $110,143, due to increased business primarily from an existing customer in the Company's organic waste processing and composting facility.

"We continue to process municipal organic waste streams, diverting them from landfills, while producing regenerative products and monetizing carbon offset credits as part of our Circular Economy model. We have confidence in a revenue ramp up this year and the signing of an offtake agreement," said Marc Hazout, Executive Chairman, President and CEO of SusGlobal Energy Corp. "Now that we have increased our landholdings at our second facility, our goal is to commence the commercialization of our proprietary organic liquid fertilizer in order to increase revenue and cash flow, maximizing shareholder value with an objective to up-list to a major exchange."

Unaudited 2023 Second Quarter Financial Results

For the second quarter ended June 30, 2023, SusGlobal recorded:

About SusGlobal Energy Corp.

SusGlobal Energy Corp., the developer of SusGro™, an award winning and revolutionary pathogen free organic liquid fertilizer, is an environmental, agricultural, industrial biotechnology and renewables company focused on acquiring, developing, and monetizing a portfolio of proprietary technologies in the waste to energy and regenerative product applications globally. It is management's objective to grow SusGlobal into a significant sustainable waste to energy and regenerative products provider and a trusted brand for the fertilizer, soil and aquaculture market, as LEADERS IN THE CIRCULAR ECONOMY®. For more information, please visit the Company's website at: www.susglobalenergy.com.

In accordance with SEC Regulation G, the non-GAAP measurements in this press release have been reconciled to the nearest GAAP measurement, which can be viewed under the heading "Interim Condensed Consolidated Reconciliation of Non-GAAP Information" in the financial table included in this press release.

This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's objectives. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, lack of sufficient financial resources; variations in market conditions, currency and our stock; the Company's ability to obtain any necessary permits, approvals, consents or authorizations required for its activities; the Company's ability to produce energy, biogas, compost or organic fertilizer from its properties successfully or profitably, to continue its projected growth, or to be fully able to implement its business strategies and other risk factors described in the Company's filings with the U.S. Securities and Exchange Commission, which may be viewed at www.sec.gov.

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