Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF)
(
“Cielo” or the
“Company”), a
waste-to-fuel environmental technology company, is pleased to
announce the completion of the commissioning of its research and
development facility (the “
R&D Facility”),
located in Aldersyde, Alberta.
Completion of Commissioning
Cielo is pleased to announce the completion of
the commissioning of the R&D Facility located in Aldersyde,
Alberta. The purpose of the R&D Facility is to achieve a high
degree of detailed performance characteristics, feedstock yields,
optimum carrier fluid design, reactor design, catalyst
experimentation and a detailed material balance for the system. The
R&D Facility is expected to give Cielo the flexibility to
enhance the quality of the fuel yield. The detailed engineering
output is expected to facilitate the design of the Company’s first
full-scale facility, expected to be located in Dunmore, Alberta
(the “Dunmore Facility”) with predictable
performance, capital cost expectations and operating cost
metrics.
Ryan Carruthers, Executive Vice President of
Operations, commented: “Commissioning completion is a significant
milestone achieved as Cielo continues to march down the path to
commercialization. I am proud of the commitment and effort
displayed by the Operations Team during the commissioning
activities, and I look forward to the insight and subsequent
advancement that the R&D unit will provide.”
Alberta Environment and Protected Areas
Update
Cielo also continues to work with the Alberta
Environment and Protected Areas (“EPA”) to obtain
the requisite permit(s) to begin operating the R&D Facility, as
information provided in the previously submitted application
amendment was found to be incomplete. Cielo was advised that
compositional information related to various proposed substances
required more details as well as monitoring information for the
proposed substances and it was confirmed that the application
amendment was not rejected based on the proposed project. The EPA
has continued an open dialogue with Cielo and from that dialogue it
has been agreed that a new application be submitted as opposed to
an application amendment.
As a result of the dialogue with EPA, Cielo has
engaged Matrix Solutions Inc. Environment and Engineering
(“Matrix”) to assist the Company with the
completion of the application for Cielo to EPA. Management believes
that based on the conversations with EPA and Matrix, a new
application would be beneficial for Cielo as it would offer an
opportunity to submit a cleaner application which could result in a
shorter time to be reviewed/approved.
The Company has also engaged an EPA-recommended
third-party laboratory to perform the railway tie compositional
analysis, which will also be included in the EPA application.
Webinar
The Company’s CEO, Ryan Jackson, and CFO,
Jasdeep K. Dhaliwal, along with EVP of Operations, Ryan Carruthers,
will be presenting an overview of current operations and an update
on upcoming milestones, while sharing excerpts of the Company’s
most recent investor presentation. We invite all investors and
other interested parties to register for the webinar at the link
below.
Date: Wednesday, April 26,
2023Time: 1pm ETRegister: Webinar
Registration
HAVE QUESTIONS? Management will
be available to answer your questions following the presentation on
the webinar platform. You may submit your question(s) beforehand in
the registration form or by email at: cielo@rbmilestone.com.
Neither the 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.
ABOUT MATRIX
Matrix is a Canadian environmental and
engineering consulting company with roots dating back to 1984. We
partner with clients and communities to solve challenges. It’s our
job to power progress and shape a better future where our clients,
people, communities, and environment thrive. We collaborate across
services, disciplines, and geographies to deliver responsive,
locally connected, and scalable solutions customized to your
project and environmental challenge. Our integrated approach is
supported by talented professionals and a project management model
that encourages synergies, promotes service excellence, and
provides cost and time savings. Our core services (water resources,
environmental planning and permitting, site assessment and
remediation) support both private and public sector clients who are
moving towards a lower-carbon future.
ABOUT CIELO
Cielo Waste Solutions Corp. was incorporated
under the Business Corporations Act (British Columbia) on February
2, 2011. Cielo is a publicly traded company with its shares listed
to trade on the TSX Venture Exchange (“TSXV”)
under the symbol “CMC,” on the Frankfurt Exchange
(“DAX”) under the symbol “C36”, as well as on the
OTC Venture Market (“OTCQB”), under the symbol
“CWSFF.” The Company’s strategic intent is to become a leading
waste-to-fuel company using economically sustainable technology
while minimizing the environmental impact. Cielo has a patented
process that can convert waste feedstocks, including organic
material and wood derivative waste, to fuel. Having demonstrated
its ability to produce diesel and naphtha from waste, Cielo’s
business model is to construct additional processing facilities.
Cielo’s objective is to generate value by converting waste to fuel,
while fueling the sustainable energy transition.
For further information please
contact:
Cielo Investor Relations
Phone: (403) 348-2972Email:
investors@cielows.com
RB Milestone Group LLC
Email:
cielo@rbmilestone.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This news release contains certain
forward-looking statements and forward-looking information
(collectively referred to herein as “forward-looking statements”)
within the meaning of applicable Canadian securities laws. All
statements other than statements of present or historical fact are
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
“anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”,
“objective”, “continuous”, “ongoing”, “estimate”, “outlook”,
“expect”, “may”, “will”, “project”, “should” or similar words,
including negatives thereof, suggesting future outcomes.
Forward-looking statements are subject to both
known and unknown risks, uncertainties, and other factors, many of
which are beyond the control of the Company, that may cause the
actual results, level of activity, performance, or achievements of
the Company to be materially different from those expressed or
implied by such forward looking statements. Cielo is making forward
looking statements, with respect to, but not limited to: the
purpose of the R&D Facility and the expected results and
benefits thereof, including the ability to use the detailed
engineering output to facilitate the design of the Dunmore
Facility; the location of the Company’s first full-scale facility
being in Dunmore, Alberta; matters related to the Company’s
application(s) for permit(s) to be obtained from the EPA, including
the submission of a new application versus an application
amendment, and the potential benefits and results thereof; the
services to be performed by Matrix Solutions Inc. and the
third-party laboratory, and the impact on the Company’s EPA
application(s); and the timing, format, speakers, and content /
agenda of the Company’s webinar to be held on April 26th, 2023.
Investors should continue to review and consider
information disseminated through news releases and filed by the
Company on SEDAR. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended.
Forward-looking statements are not a guarantee
of future performance and involve a number of risks and
uncertainties, some of which are described herein. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause the Company’s actual
performance and results to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. Any forward-looking statements are made
as of the date hereof and, except as required by law, the Company
assumes no obligation to publicly update or revise such statements
to reflect new information, subsequent or otherwise. Neither the
TSXV nor its Regulation Services Provider (as that term is defined
in the policies of the TSXV), nor OTCQB nor WKN, have reviewed, and
do not accept responsibility for the adequacy or accuracy of, the
content of this news release.
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