MIAMI, FL, May 19, 2026 (GLOBE NEWSWIRE) -- RenX Enterprises Corp. (NASDAQ: RENX) (“RenX” or the “Company”) today announced three operational updates supporting the planned deployment of the Microtec UTM 1200 Turbo Mill at its Myakka City, Florida facility: (1) the initiation of an customer sample run at MTDH Germany GmbH (“Microtec”); (2) the acquisition of a spare parts package bundled with the mill and (3) the funding of contract deposits to the Company’s site commissioning and electrical infrastructure partners.
RenX has shipped supersacs of screened woody biomass feedstock from Myakka City to Microtec’s facility in Germany. There, the material will be pre-processed on a Microtec milling line to produce finished particle cuts representative of the output the UTM 1200 will manufacture once installed and commissioned at Myakka City. The processed output will be distributed as qualification samples to prospective commercial counterparties, enabling them to evaluate Microtec-produced finished product against their specifications before on-site production begins.
In parallel, the Company has acquired a spare parts package for the UTM 1200, which will be shipped together with the mill from Germany. The Company purchased the spare parts package to reduce the risk of equipment downtime during early commissioning and ramp-up and to ensure that wear items and frequently-serviced consumable parts will be immediately available on-site upon installation. The acquisition and bundling of the spare parts package has resulted in a modest delay to the mill’s originally scheduled shipment from Germany. However, a preview of the completed mill is available on the Company’s website: https://www.renxent.com/media.
RenX has also paid contract deposits under previously signed engagements with its mechanical integration contractor and regional electric utility. These deposits cover on-site mill commissioning, fabrication and mechanical integration, and the electrical interconnection infrastructure required to energize the milling line. The mechanical scope covers fabrication and installation of the material handling and processing system surrounding the UTM 1200, including a metering hopper, feed and transfer conveyors, a screening assembly with magnetic separation, cyclone-based dust management, mill and screen stands, interconnecting ductwork, and integrated electrical controls. The electrical interconnection scope includes a dedicated high-capacity transformer, three-phase underground primary service, and metering infrastructure sized for the mill’s operating load. These deposits authorize each counterparty to advance its respective scope ahead of the mill’s arrival at Myakka City.
“Each of these workstreams reflects how we are preparing the platform for live operation rather than waiting for the equipment to arrive,” said David Villarreal, Chief Executive Officer of RenX Enterprises. “Pre-processing our own feedstock at Microtec’s facility allows us to put real, finished material in front of prospective customers before our line is energized. Procuring spares with the mill and funding the electrical and mechanical scopes in parallel positions us to compress the time between physical delivery and the start of production.”
The Company intends to provide additional updates as the mill arrives on-site at Myakka City and installation and commissioning activities advance.
About RenX Enterprises Corp.
RenX Enterprises Corp. is a technology-driven environmental processing and sustainable materials company focused on producing value-added compost, engineered soils, and specialty growing media for agricultural, commercial, and consumer end markets. The Company’s platform is designed to be differentiated by its use of advanced milling and material-processing technology, including a planned deployment of a licensed Microtec system, to precisely size, refine, and condition organic inputs into consistent, high-performance soil substrates. This technology-enabled approach allows RenX to move beyond traditional waste-to-value operations and manufacture engineered growing media with repeatable quality and defined specifications. RenX’s core operations are anchored by a permitted 80+ acre organics processing facility in Myakka City, Florida. At this facility, the Company integrates organics processing, advanced milling, blending, and in-house logistics to support the localized production of proprietary soil substrates and potting media. The Company believes that by optimizing products for regional feedstocks and customer requirements, it can shorten supply chains, enhance quality control, and improve unit economics while serving higher-value end markets. The Company also owns a portfolio of legacy real estate assets, which it intends to monetize to fund its core technology-driven environmental processing platform.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are or may be deemed to be forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “should,” “potential,” “continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates” and similar expressions and include, among others, statements regarding the shipment, pre-processing, and distribution of substrate samples to prospective customers; the timing and outcome of the customer sample program and any subsequent conversion of prospective counterparties into customers; the timing of mill arrival at Myakka City and the commencement of installation activities; the completion of mechanical integration, electrical infrastructure, and commissioning workstreams; the start and ramp of on-site production; the role of the spare parts package in supporting commissioning and operations; and the Company’s broader operational and strategic objectives. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, international shipping and logistics risks, vendor and contractor performance, utility execution and grid interconnection timing, equipment installation and commissioning risks, customer qualification timing and outcomes, the Company’s ability to generate revenue from substrate production, and other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, and its subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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