CLEVELAND, OHIO, Nov. 29, 2022 (GLOBE NEWSWIRE) -- MALACHITE INNOVATIONS, INC. (OTC Mkts: MLCT) (“Malachite”), a public company focused on improving the health and wellness of people and the planet, today announced the launch of Range Security Resources, Inc. (“Range Security”), a new wholly-owned operating business focused on providing eco-friendly, technology-driven security services to active and former mine sites, with a particular focus on locations transitioning to next generation industries.
Range Security is intended to serve as a complementary business to Range Environmental Resources and Range Natural Resources, both wholly-owned operating businesses of Malachite that provide environmental services to active and former mine sites throughout the Appalachian Region. Mine sites frequently comprise thousands of acres of natural habitat with valuable infrastructure and operating assets dispersed across large tracts of land. Currently, most landowners engage security companies staffed with guards driving light-duty trucks around large mine sites, resulting in suboptimal security services and excessive carbon emissions.
Michael Cavanaugh, Malachite’s Chief Executive Officer, stated that “Range Security will leverage innovative technologies, including drones and video surveillance, to secure large geographic areas with greater effectiveness and a lower carbon footprint and will focus on hiring military veterans, police officers, and other first responders so that we may offer these dedicated public servants with economic opportunities while also providing best-in-class security services to our clients.”
“Range Security is a perfect example of our philosophy of looking at solving old problems in new ways,” stated Cavanaugh. “We are proud to offer economic opportunities for the men and women who have given so much to keep our country and local communities safe and secure. It’s a true honor to create a business centered around the unique expertise of military veterans and first responders, while providing technology-driven, environmentally-friendly solutions to protect mine sites’ valuable assets and preserve the infrastructure critical to the transition to next generation industries,” Cavanaugh added.
About Malachite Innovations, Inc.
Headquartered in Cleveland, Ohio, Malachite Innovations, Inc. is a public holding company dedicated to improving the health and wellness of people and the planet through a novel and innovative approach to impact investing. Malachite owns and operates a balanced portfolio of operating businesses focused on developing long-term solutions to social and environmental challenges, with a particular focus on economically disadvantaged areas. Malachite takes an opportunistic approach to impact investing by leveraging its competitive advantages and looking at solving old problems in new ways. Malachite seeks to thoughtfully allocate its capital into ventures that are expected to be highly profitable to maximize its positive impact on the people-planet ecosystem and generate strong investment returns for its shareholders.
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