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MONTREAL, July 16, 2018 /CNW Telbec/ - Ecolomondo
Corporation (TSXV: ECM) (the "Company" or "Ecolomondo") is
pleased to announce that it has completed the purchase of the site
to build its latest Thermal Decomposition ("TDP") turnkey
facility to be built on Tessier street in the Town of Hawkesbury, Ontario, Canada.
Further to an Agreement of Purchase and Sale ("APS")
completed with the Town of
Hawkesbury on April 19, 2018,
and further to the satisfactory completion of all due diligence
conditions, the parties successfully closed the transaction on
July 11, 2018. The purchase price was
$400,000, including a contribution of
$315,000 by Ecolomondo to build an
extension of Tessier street.
Site work is to begin immediately, including deforestation and
geotechnical reports required for municipal and environmental
permit applications.
This new TDP facility is expected to be built on approximately
13.4 acres and to be housed in a building of approximately 50,000
sq.ft. This facility will be equipped with the latest generation
technology and is expected to have the capacity to process
approximately 13,000 tons of end-of-life tires per year. It is
expected to recover 5,000 tons of carbon black, 6,5 million liters
of oil, 1,200 tons of process gas and over 1,600 tons of steel per
year.
Once commissioned, this facility will be used as a showpiece
to bring visibility and to garner global attention to the Company's
technology.
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 by the Fall of 2018 and to achieve final completion
between the second and third quarters 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 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.
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
