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MONTREAL, April 24, 2019 /CNW Telbec/ - Ecolomondo
Corporation (TSXV: ECM) (the "Company" or "Ecolomondo")
releases its audited consolidated financial statements and notes
hereto and its related management discussion & analysis as of
and for the year ended December 31,
2018 (the "Annual Financial Statements").
During the fiscal year ended December 31,
2018, the Company has made considerable progress in its
technology, especially in the areas of process optimization and
efficiency. During this period, technological advancements were
achieved by our technical teams that allow reactor payloads to
increase from 12,000 lbs to 14,000 lbs per batch, which should
bring increased revenues of approximately 16.5% to the Company's
operating TDP turnkey facilities.
The Company was able to make substantial progress towards
securing offtake agreements and market acceptance for its
end-products, especially for its recycled carbon black, the
end-product with the highest commercial value. During this period,
the Company was able to sell its recycled carbon black produced in
its Contrecoeur plant (now
marketed under the trade name "Mondo Black"), at pricing higher
than projected.
During this period, the Company also made considerable progress
in its negotiations with Export Development Canada ("EDC") to
secure project financing to build its Hawkesbury TDP turnkey
facility and as of December 31, 2018
was very close to reaching an agreement. It is to be noted that as
a post year-end event, on April 3,
2019, the Company announced a loan agreement with EDC of
$32.1 million for project financing
for the construction of the Hawkesbury facility.
The partial commercialization of the Contrecoeur facility and the construction of
the Hawkesbury TDP facility are important steps in the Company's
growth strategy because they will be used to showcase the Company's
TDP technology to potential customers.
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 needed
in today's circular economy.
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.
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.
www.ecolomondo.com
SOURCE Ecolomondo Corp