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Montreal, August 30, 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, today releases the Company’s unaudited interim consolidated financial statements and related management discussion & analysis (“MD&A”) for the interim period ended June 30, 2021 (the “Interim Financial Statements”).
During the second quarter of 2021, the Company continued to aggressively market its TDP turnkey facilities while working towards completion of its new $40 million Hawkesbury TDP turnkey facility (the “Project”).
Business and Operating Updates:
- As of June 30, 2021, capital expenditures totaled $30,903,428, predominantly for the Hawkesbury facility. The Export Development Canada (“EDC”) term loan reached $31,672,191.
- Management reports that mechanical assembly and installation are on track and scheduled to be completed by September 2021. Commercial operations expected to begin and scale during the fourth quarter of 2021.
- The Hawkesbury 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 operation.
- The Company continued efforts to secure feedstock supplies and markets for its recovered carbon black, also known as “Mondo Black”, both domestically and internationally.
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) the 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.
Management cites the successful commercial operation of the Hawkesbury facility as an important first milestone toward achieving the Company’s global growth strategy. The Company is currently in talks to formalize the sale of several TDP turnkey facilities in North America.
Eliot Sorella, Chairman and Chief Executive Officer, said: “The Hawkesbury TDP facility will redefine scrap tire processing, creating renewable products at a much cleaner and safer environment, all at a cheaper cost. Management believes that strengthening demand, particularly in the Western Hemisphere, along with a tightening supply for virgin carbon black should set the stage for higher demand and prices in the future for recovered carbon black. insuring a sustainable supply.We are on a path to become a major global manufacturer, vendor and operator of TDP turnkey facilities that not only process tires, but also other types of hydrocarbon waste such as plastics and roof shingles. This is only the beginning.”
Related discussion and analysis have been filed and are available for review on the SEDAR website at www.sedar.com. Please visit the Company’s website at www.ecolomondo.com for updates on the Company’s Hawkesbury facility and other business developments.
About TDP Technology
Ecolomondo has spent over 25 years to develop its proprietary Thermal Decomposition Process (“TDP”) technology. TDP is a waste-to-resources technology that is expected to 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 batch production, consistent batch production, resulting in commercial-grade recycled commodity end-products that are both consistent and superior in quality.
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 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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