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Montreal, August 9, 2021 Ecolomondo Corporation (TSX-V: ECM) (the “Company” or “Ecolomondo”), a cleantech company specializing in the development of proprietary Thermal Decomposition Process (TDP) recycling technology and the commercialization of turnkey TDP facilities used to transform tires, plastics and other hydrocarbon waste into salable renewable commodities, is pleased to announce that it has retained Volt Strategic Partners Ltd. (“Volt Strategic”) as its capital markets and communications advisor.
Volt Strategic is a market communications and capital advisory firm working with senior business leaders and innovators to help grow organizational value, build business, and accelerate market appreciation for emerging technology, sustainability, and life sciences public companies.
“As our first-of-its-kind Hawkesbury processing facility comes online this Fall, we’re embarking on an aggressive expansion plan to solidify industry partnerships and formalize new customer opportunities,” said Ecolomondo’s Chairman and Chief Executive Officer, Elio Sorella. “Volt Strategic came to us highly recommended, and has already been making meaningful industry introductions that will help shape and scale our growth efforts moving forward.”
Under the terms of the July 30, 2021 agreement with Volt Strategic, Ecolomondo will pay Volt Strategic an aggregate amount of $37,500 over a term of three months for services and has granted 175,000 stock options of the Company, exercisable for a period of two years at a price of $0.65 per share. The Company will also provide Volt Strategic with a $25,000 refundable liquidity deposit (the “Liquidity Deposit”) on commencement of services that will be returned to the Company at the end of the term. The agreement between the Company and Volt Strategic may be extended with the prior written consent of the parties or terminated at any time by the Company or Volt Strategic.
About the Hawkesbury TDP Turnkey Facility
The Hawkesbury TDP facility will redefine scrap tire processing, creating renewable products at a much cleaner and safer environment, all at a cheaper cost. Comprised of four different processing departments (shredding, thermal processing, recovered carbon black processing and oil fractionation) this facility is expected to process a minimum of 14,000 tons of tire waste per year when fully operational, producing 5,300 tons of recovered carbon black, 42,700 barrels of oil, 1,800 tons of steel, 1,600 tons of process gas and 850 tons of fiber at full capacity. Commissioning is expected to begin early September 2021, with commercial operations expected to gradually commence in October 2021.
About Ecolomondo Corporation
Ecolomondo is a Canadian cleantech company specializing in the commercialization of its waste-to-products operations and proprietary Thermal Decomposition Process (“TDP”) technology. With 25+ years of industry experience and a track record of establishing strong circular economy partnerships, the Company is strategically positioned to become a major global vendor of turnkey TDP facilities that convert hydrocarbon waste into marketable commodity end-products including carbon black substitute, oil, gas and steel.
Revenue growth will come from the sale of fully-automated and energy self-sufficient TDP facilities and additional royalties from the sale of end-products, tipping fees and carbon credits. Ecolomondo’s initial focus is to aggressively market TDP facility expansion throughout North America, as management has been speaking with numerous public and private sector industry groups looking for breakthrough solutions extending across the entire product management and processing lifecycle.
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.
For further information please contact:
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
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