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MONTREAL, Aug. 28, 2019 /CNW Telbec/
- Ecolomondo Corporation (TSXV: ECM) (the
"Company" or "Ecolomondo") hosted its groundbreaking ceremony
on August 21, 2019 to launch the
beginning of the construction of its new latest generation TDP
turnkey plant that will be located on Tessier street in
Hawkesbury, Ontario.
The ceremony was held on August 21,
2019, in the presence of numerous dignitaries and community
representatives. The president and CEO of Ecolomondo, Eliot Sorella, along with the Mayor of the
Town of Hawkesbury, Mrs.
Paula Assaly, the federal Member of
Parliament, Mr. Francis Drouin, the
president of Maylan Group, Mr. Daniel
Landry, and the Director of the project financing group
(Export Development Canada), Mr. Jean-Philippe Nolet, performed a symbolic dig to
officially launch the beginning of construction.
"Once commissioned, this TDP turnkey facility will set the stage
for Ecolomondo's global expansion. This facility will be an
industry first, where it will not only process the tire waste but
will also process end-products to improve their quality,
marketability, consistency and value", said Eliot Sorella, president & CEO of
Ecolomondo. He further added "Ecolomondo, a waste-to-resources
company, along with its TDP technology, will help bridge the way to
maintaining a sustainable economy."
The Hawkesbury TDP turnkey facility will be a first of its kind
and be used as a technological showpiece to promote TDP turnkey
facilities internationally. Once built, this state-of-the-art
facility will be housed in a 46,200 sq.ft building on approximately
12 acres of land and consist of four processing departments
(shredding and rubber preparation, thermal, carbon black
processing, oil distillation) and, when fully operational, this
facility is expected to process a minimum of 18,000 tons of tire
waste per year and produce approximately 5,300 tons of recovered
carbon black, 47,600 barrels of oil, 2,000 tons of steel, 1,800
tons of fiber and 1,600 tons of process gas.
As earlier reported, the Company recently completed its project
financing loan of $32.1 million with
Export Development Canada ("EDC"), which is expected to
close before the end of the third quarter. The Company believes
that EDC will be a key player in the Company's global growth and
the proliferation of TDP turnkey plants. EDC is a financial Crown
corporation dedicated to helping Canadian companies of all sizes
succeed on the world stage.
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.
SOURCE Ecolomondo Corp