Montreal, QC, May 30, 2022 — Ecolomondo Corporation (TSXV: ECM) (OTC: ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process (“TDP”) proprietary recycling technology and the building and operating of turnkey TDP facilities globally, announces that it has released its unaudited consolidated financial statements and notes thereto and its related management discussion and analysis for the interim period ended March 31, 2022 (the “Interim Financial Statements”). The documents are available on SEDAR at www.sedar.com
During the quarter ended March 31, 2022, the Company continued to market its TDP turnkey facilities and to commission its Hawkesbury TDP facility. The Company also made considerable headway on its Shamrock, Texas TDP facility in areas of financing, feedstock supply, offtake agreements and selecting a joint venture partner and EPC contractor.
Construction of the Hawkesbury facility continued to progress during the quarter and the facility is currently reaching final stages of commissioning. The Company expects to begin operations by the end of the second quarter of 2022, gradually ramping up to full production volumes by the end of the third quarter. The company has received a combination of purchase orders and off-take agreements for the high-quality oil, recovered carbon black and steel that will be produced at the Hawkesbury TDP facility.
With the commissioning of the Hawkesbury facility, the Company is also projecting positive revenues coming from the sale of end-products and tipping fees beginning by the end of the second quarter of 2022.
During the quarter ended March 31, 2022, the Company continued to mobilize for its global expansion. It has put into place a global sales team to promote its TDP technology and to ensure offtake agreements for end-products manufactured. The Company is currently in talks to finalize the sale of several TDP turnkey facilities in Canada and the continental USA. Management believes that the commercial operation of the Hawkesbury facility, soon to be operational, should solidify Ecolomondo’s position as an industry leader in thermal processing of hydrocarbon waste.
In line with its expansion strategy, early in the first quarter of 2022, the Company announced its next project, a six-reactor TDP facility to be located in Shamrock, Texas. Production capabilities for the Shamrock facility will be roughly three times the size of the Company’s Hawkesbury plant output. Facility construction is expected to begin by the end of the third quarter of 2022 with completion expected in early 2024. Projected cost to build is approximately US $80 million and the facility should generate estimated revenues of approximately US $45 million.
The Company chose Shamrock, Texas as the site of their first facility in the U.S. because abundant tire feedstock is available, several large potential off-takers are located in the region and local government has provided strong support and economic incentives.
The Company further advises that the current global market conditions and the ongoing geo-political events have created tight supply that are causing commodity prices to spiral that should result in higher revenues for TDP facilities.
Supported by increasing global consumption, the Company expects that there will continue to be an abundant supply of scrap tire feedstock for the foreseeable future. The Company expects that the continued global expansion of tire manufacturing should generate an increasing and stable supply of scrap tire feedstock that should help drive Ecolomondo’s future growth.
TDP is Environmentally Friendly – CO2 Reduction
By producing rCB, TDP reduces GHG emissions by 90% versus the production if virgin carbon black. The production of rCB at the Hawkesbury and Shamrock facilities will reduce CO2 emissions by 22,400 and 67,200 tons per year, respectively.
The TDP system is technically proven and is superior to other pyrolysis technologies. Over the years, our Technical Teams were able to overcome all uncertainties that plagued most competitors especially in these areas: pre-filtration, reactor cooling, reactor rotation, reactor evacuation, water recycling, cleaning of rCB (hydrocarbon removal), mass monitoring, heat curve development, humidity and water removal, safety testing, full system automation, emissions control and monitoring, rCB and pyrolysis oil post processing, efficient syngas reuse.
About Ecolomondo Corporation
Ecolomondo Corporation is a Canadian cleantech company headquartered in Québec, Canada with an over 25-year history focused on waste-to-resource technology development and deployment. Ecolomondo has developed the proprietary TDP which recovers high value circular commodities from end-of-life tires including rCB, oil and steel. TDP lowers carbon emissions by up to 90% versus virgin carbon black production. Ecolomondo has adopted a triple bottom line approach to business focused on people, planet, and profit. Ecolomondo trades on the TSX Venture Exchange under the symbol (TSXV:ECM). To learn more, visit 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 assurance 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.