SEER ANNOUNCES THE SALE OF ITS TEXAS-BASED PARAGON SOUTHWEST MEDICAL WASTE AFFILIATE TO PART OF THE AMLON GROUP

SEER APPROVES THE SALE OF ITS TEXAS AFFILIATE AND WILL NOW FOCUS ON INTERNATIONAL OPPORTUNITIES FOR ITS MEDICAL WASTE DESTRUCTION TECHNOLOGY

BROOMFIELD, CO, July 27, 2023 (GLOBE NEWSWIRE) -- Strategic Environmental & Energy Resources, Inc. (SEER) (OTCQB: SENR), a provider of environmental, renewable fuels and industrial waste stream management services, announced today that the sale of its Texas affiliate, Paragon Southwest Medical Waste (“PSMW”) formally closed June 30^th, 2023. SEER’s majority-owned subsidiary, Paragon Waste Management (“Paragon”) continues to be SEER’s waste treatment entity and will continue to market its CoronaLux technology internationally.

PSMW was initially founded November 2017 and commissioned in February of 2018 as a joint venture between SEER’s, Paragon, and a group of Texas investors. It has operated consistently and without incident in Texas since its opening. Following the consolidation of business activities between PSMW and Paragon in June 2022, a private equity firm, an entity associated with The Amlon Group (www.amlongroup.com), began acquisition discussions with PSMW and purchased the Texas operation and its consolidated business.

The acquisition was a stock transaction whereby PSMW will own a portion of the equity of the acquiring entity, Amlon Holdings, LLC, a Delaware LLC (“Amlon Holdings”). Amlon Holdings was valued at approximately $140M at close and has or is currently acquiring several complementary assets in the hazardous waste, medical waste, and chemical waste industries, one of which is PSWM. PSWM will now operate under the name, Baytown Medical. PSMW will be retained by the original shareholder group (including SEER) and PSMW is now the “aggregator entity” that holds the interest in Amlon Holdings. SEER’s interest in PSWM currently translates to approximately 2 percent of Amlon Holdings.

Utilizing Paragon’s superior medical waste treatment technology, Amlon Holdings now plans to continue the national rollout of medical waste treatment facilities thereby enhancing the overall value of Amlon Holdings. Neither Paragon nor PSWM will retain any management positions in the new entity.

The driver for the transaction was the result of the need to consolidate the North American market and the continued desire of customers to transition away from incineration as part of their sustainability programs, coupled with the advanced destruction technology process and operating package, including IP, developed by SEER and Paragon. “Being part of Amlon Holdings will now allow the entity to fund and implement the expansion plans Paragon had developed to grow the business nationally and, ultimately, SEER and its shareholders will benefit,” said Dr. Villamagna, former CEO of PSMW and former CEO of PWS.