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MONTREAL, April 23, 2018 /CNW Telbec/ - Ecolomondo Corporation (TSXV: ECM) (the "Company" or "Ecolomondo") is pleased to announce that it has entered into an Agreement of Purchase and Sale ("APS") with the Town of Hawkesbury, Ontario, to acquire land to build its new Thermal Decomposition ("TDP") turnkey facility. Completion of the transaction is subject to a satisfactory due diligence on the property by the Company and is scheduled to close on June 27, 2018.
This new TDP facility is expected to be built on approximately 13.4 acres and to be housed in a building of approximately 52,000 sq.ft. to be located on Tessier street in Hawkesbury. It is expected to be equipped with two reactors having a production capacity to process approximately 13,000 tons of tire waste per year. The new facility is expected to have the latest generation thermal decomposition technology in its four processing departments, namely Shredding, Thermal Decomposition, Carbon black processing, and Oil distillation.
This facility is expected to recover 5,000 tons of carbon black, over 6,5 million liters of oil, 1,200 tons of process gas and over 1,600 tons of steel per year.
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 of the Hawkesbury facility, early in the Fall 2018, and to complete construction and commissioning by the end of the second quarter 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 critical to future sustainability.
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
For further information: Elio Sorella, Chairman and Chief Executive Officer, Ecolomondo, Tel: (450) 587-5999, [email protected]; Renmark Financial Communications Inc., Barry Mire, Vice-President, Renmark, Tel: (416) 644-2020 or (514) 939-3989, [email protected], www.renmarkfinancial.com