Deep Green Waste and Recycling Inc (DGWR)

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$DGWR Shareholder Update: DEEP GREEN Seeing Growth Driven by $2M Nashville Asbestos Project and Strategic Expansion

https://www.globenewswire.com/news-release/2023/09/26/2749501/0/en/Shareholder-Update-DEEP-GREEN-Seeing-Growth-Driven-by-2M-Nashville-Asbestos-Project-and-Strategic-Expansion.html

NASHVILLE, Tenn., Sept. 26, 2023 (GLOBE NEWSWIRE) -- DEEP GREEN Waste & Recycling Inc. (OTC: DGWR) is pleased to provide shareholders with an update on the progress achieved by our Lyell Environmental Services subsidiary on a major asbestos abatement project, DEEP GREEN's strong financial performance over the past two quarters, and our outlook for continued growth.

"Thanks to Lyell's expertise and hard work, we are on target and under budget on a $2 million asbestos removal contract at Vanderbilt University Medical Center's downtown medical campus in Nashville," commented David Bradford, President of DEEP GREEN. "Additionally, DEEP GREEN continues to deliver profitable growth driven by our strategic expansion efforts."

Now over 35% completed, Lyell has efficiently executed the first phases of asbestos removal and disposal while adhering to strict safety protocols to protect hospital operations and personnel. The safe removal of asbestos requires extensive planning and meticulous execution using specialized equipment and techniques.

A standard asbestos abatement project will involve the following key phases and tasks:

Site Evaluation and Planning - Thoroughly survey the site to identify all asbestos-containing materials.
Site Preparation - Seal off the work area and set up decontamination facilities.
Asbestos Removal - Carefully mist asbestos materials with amended water or removal encapsulant.
Packaging and Waste Handling - Double bag all asbestos wastes in leak-tight containers.
Decontamination - Thoroughly clean work area and equipment including wiping, wet cleaning, HEPA vacuuming.
Air Monitoring and Clearance - Conduct extensive air testing and visual inspections.
Waste Transport and Disposal - Transport and dispose of all asbestos waste in compliance with regulations. Maintain chain-of-custody documentation.

Strict controls and oversight are required throughout the process to protect workers, the public, and the environment. Proper asbestos abatement is complex, requiring specialized workers and vetted contractors with extensive training and experience.

Lyell was selected from over 180 accredited remediation firms to undertake this critical six-month asbestos abatement project prior to demolition of a large medical complex building at Vanderbilt. Lyell was chosen due to their long track record and extensive experience in hazardous waste handling.

DEEP GREEN acquired Lyell Environmental Services in 2021 to augment its waste management capabilities. This project demonstrates how Lyell has quickly become an impactful part of DEEP GREEN's integrated services platform.

DEEP GREEN provides sustainable waste and recycling services to commercial clients, now augmented by full-service remediation capabilities in asbestos, lead, mold and more. The company will continue pursuing strategic opportunities to broaden its portfolio of environmental services and expand nationally.

"As a leading, vertically integrated waste management and remediation provider, DEEP GREEN is well-positioned to capitalize on booming demand for eco-friendly and compliant solutions to pressing environmental challenges faced by our customers," said Bill Edmonds, Chairman of DEEP GREEN. "We look forward to creating additional value for shareholders as we fulfill our ambition to be the recognized national leader in this space."