/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES
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MONTREAL, Nov. 22, 2018 /CNW Telbec/ - Ecolomondo
Corporation (TSXV: ECM) (the "Company" or "Ecolomondo")
releases its unaudited interim condensed consolidated financial
statements and notes hereto and its related management discussion
& analysis as of and for the three and nine months ended
September 30, 2018 (the "Interim
Financial Statements").
During this quarter, the Company continued its efforts to
complete the conversion of its Contrecoeur facility to become a partially
commercialized TDP facility. The Company achieved a major milestone
and completed the installation and commissioning of a post-process
treatment line to refine the recycled carbon black that it produces
at its Contrecoeur facility. This
facility now has the equipment to produce a commercial grade
recycled carbon black, which was easily approved and purchased by
customers that are large consumers of carbon black, a major step
towards its commercialization of the Contrecoeur facility. During this period, the
Contrecoeur facility operated on a
limited commercial basis and the Company expects to complete its
partial commercialization in the fourth quarter of 2018. Partial
commercialization is considered to be achieved when the
Contrecoeur facility processes
three batches of seven tons per week.
During this period, the joint venture entity, Ecolomondo
Environmental (Hawkesbury) Inc.,
completed the purchase of the land for the TDP turnkey facility and
the city of Hawkesbury began
constructing the access road on Tessier street. The Company
confirms that the EPCM contractor, Ultragen, mandated to build the
Hawkesbury TDP turnkey facility, was also actively working and made
substantial progress in the areas of engineering, procurement and
construction design. Construction of the Hawkesbury facility is expected to begin early
in 2019 and to be completed within 12 months from the start date.
The Company was also actively negotiating its debt financing to
build the facility with a major commercial lender.
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
