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MONTREAL, April 23, 2018 /CNW Telbec/ - Ecolomondo
Corporation (TSXV: ECM) (the "Company" or "Ecolomondo") is
pleased to announce that it has entered into an Agreement of
Purchase and Sale ("APS") with the Town of Hawkesbury, Ontario, to acquire land
to build its new Thermal Decomposition ("TDP") turnkey
facility. Completion of the transaction is subject to a
satisfactory due diligence on the property by the Company and is
scheduled to close on June 27,
2018.
This new TDP facility is expected to be built on approximately
13.4 acres and to be housed in a building of approximately 52,000
sq.ft. to be located on Tessier street in Hawkesbury. It is expected to be equipped with
two reactors having a production capacity to process approximately
13,000 tons of tire waste per year. The new facility is expected to
have the latest generation thermal decomposition technology in its
four processing departments, namely Shredding, Thermal
Decomposition, Carbon black
processing, and Oil distillation.
This facility is expected to recover 5,000 tons of carbon black,
over 6,5 million liters of oil, 1,200 tons of process gas and over
1,600 tons of steel per year.
To spearhead construction of this facility, Ecolomondo has
concluded an EPCM (Engineering, Procurement, Construction,
Management) service agreement with Ultragen, a prominent
engineering company highly experienced in the areas of waste
processing and petrochemicals. Ecolomondo expects to begin
construction of the Hawkesbury
facility, early in the Fall 2018, and to complete construction and
commissioning by the end of the second quarter of 2019.
About Ecolomondo Corporation
Ecolomondo is a cleantech Canadian company that is
commercializing its waste-to-products technology. The Thermal
Decomposition Process ("TDP") converts hydrocarbon waste
into marketable commodity end-products, namely carbon black
substitute, oil, gas and steel. Technologies such as Ecolomondo's
are expected to play an important role in resource recovery
critical to future sustainability.
Management believes that technological breakthroughs in areas of
emissions, process optimization, automation, end-product processing
and safety, position Ecolomondo to become an industry leader.
The Company's main revenues will come from the sale of TDP
turnkey facilities and royalties from their operations. TDP
facilities will generate revenues from the sale of end-products,
tipping fees and carbon credits. Ecolomondo's first focus is to
market TDP turnkey facilities that use scrap tires as a feedstock,
because scrap tires yield end-products with a higher commercial
value, especially the recycled carbon black.
www.ecolomondo.com
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.
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.
SOURCE Ecolomondo Corp