Binding Agreement for 136 Acre Land Purchase Underway With Help From Shamrock Economic Development Corporation
Montreal, QC, November 30, 2021– Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the development of proprietary recycling technology, Thermal Decomposition Process (“TDP”), and the commercialization of turnkey TDP facilities, today announced it has identified a 136.76 acre property in Shamrock, Texas as a potential site location to build its first US-based waste-to-resources TDP plant.
Working in close consultation with the Shamrock Economic Development Corporation (“EDC”), Ecolomondo is currently negotiating a binding land purchase agreement and expects to close on the transaction in the coming weeks. The Company intends to build turnkey TDP recycling facilities throughout the United States that process end-of-life tires (“ELT”) into saleable products including recycled carbon black, oil, gas, steel and fiber.
Strategically situated in Wheeler County and close to major hubs such as Dallas and Oklahoma City, the land is conveniently located on Interstate 40, a major east–west Interstate Highway running through the south-central portion of the United States. A future TDP facility would help service area recycling needs as municipal and state officials move away from tire burning, landfilling and shredding.
“Industry executives and governments throughout North America are embracing the notion of Extended Producer Responsibility programs, but need solutions in place to take back and responsibly recycle end-of-of-life products,” said Eliot Sorella, Chairman and Chief Executive Officer of Ecolomondo “Forward thinking leaders like Shamrock’s EDC are acting both smartly and responsibly as they consider and push for positive change and increased economic activity. We plan to be a great partner to Shamrock and surrounding communities.”
The planned land purchase and TDP facility construction in Shamrock, TX marks the start of a key commitment in Ecolomondo’s strategic plans to expand its waste management operations globally and aggressively. The Company’s Hawkesbury, Ontario TDP turnkey facility will soon be commissioned and will incorporate all of the technological advancements developed at the Pilot facility in Contrecoeur, Quebec, Canada.
Additional updates on the Texas land purchase and facility will be forthcoming. The Company will take all appropriate steps to notify the Market and shareholders as events occur. Visit the Company’s website at www.ecolomondo.com to learn more.
About TDP Technology
Thermal Decomposition Process technology is a proprietary waste-to-resources technology that the Company expects will play a critical role in the development and proliferation of the circular economy. TDP is a closed loop, slow pyrolysis technology that operates in an oxygen-free environment using positive pressure and a batch rotary reactor. The process is largely energy self-sufficient. Ecolomondo’s exclusive automation system allows for strict control of cycle times, processing parameters and consistent batch production, resulting in quality, commercial-grade recycled commodities and end-products.
About Ecolomondo Corporation
Ecolomondo is a Canadian cleantech company specializing in the commercialization of its waste-to-products operations and proprietary 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 saleable end-products including recycled carbon black, oil, gas and steel. Revenue growth will come from the sale of fully-automated and energy self-sufficient TDP facilities and 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 assurance 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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