Montreal, QC, November 8, 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 reports that its Hawkesbury TDP facility commissioning timelines remain on schedule and expects commercial operations that include end-of-life tire crumb rubber and carbon black processing will commence this fiscal Quarter.
Notable updates include:
• Hawkesbury, Ontario TDP Facility Nears Completion: All major mechanical assembly and installation has been completed. Commissioning of the plant’s power grid is nearing completion, with testing of carbon black and crumb rubber processing equipment, along with thermal decomposition and oil fractionation equipment, to soon follow. On the heels of its previously announced $3.4m multi-year tire feedstock supply contract, Ecolomondo is also negotiating offtake agreements with buyers of oil, steel, fiber and recycled carbon black, as the Company is preparing for its commercial operations expected to launch before year-end.
• Attractive Capex: Hawkesbury project costs and cash flows continue to remain within the guidelines of loan covenants with Export Development Canada (EDC). Total estimated budget for the Hawkesbury TDP turnkey facility stands at approximately $38.375 million, of which approximately $32.125 million comes from the loan facility from EDC and the balance of approximately $6.25 million from the Company, which has already been contributed.
• Hawkesbury Operations: The plant will consist of four different departments: shredding, thermal process, recovered carbon black processing and oil distillation, with the ability to operate around the clock, year-round. The facility is projected to generate annual revenues of over $10 million with an EBITDA of over $5 million in its first full year of continued operations. Company management believes Hawkesbury will be the first-of-its-kind and uniquely positioned in the waste processing space.
“Our Hawkesbury facility is both innovative and trend setting, and should set the standard for the global tire pyrolysis industry. I believe it will solidify our position in the market place,” said Eliot Sorella, Chairman and Chief Executive Officer of Ecolomondo. “Designed and built to manufacture recycled end-products of the highest quality, we have no doubt it will meet the quality standards of a wide variety of industry partners. Our vision and strategy is not only solid for Hawkesbury, but also for a wide variety of public and private entities taking part in the global circular economy.”
Once fully operational, the Hawkesbury TDP turnkey facility is expected to process 14,000 metric tons of crumb rubber per year, that is expected to yield 5,300 metric tons of recycled carbon black, 42,700 barrels of oil, 1,800 metric tons of steel, 850 metric tons of fiber and 1,600 metric tons of syngas. Visit the Company’s website at www.ecolomondo.com to view and learn more about the TDP technology.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES