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MONTREAL — Ecolomondo Company (TSXV: ECM) (OTC: ECLMF) (the “Firm” or “Ecolomondo”), a cleantech firm specializing within the commercialization of its Thermal Decomposition Course of (“TDP”) proprietary recycling know-how and the worldwide deployment of TDP turnkey services, has reached an settlement in precept to restructure its unique mortgage settlement (“Mortgage”) with Export Improvement Canada (“EDC”).
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The unique Mortgage was for an quantity of $32.1 million in venture financing with EDC, executed on April 3, 2019, to finance the development of the Firm’s first of its form new turnkey thermal decomposition facility within the City of Hawkesbury, Ontario (the “Hawkesbury facility”) that can course of end-of-life tires to supply re-usable assets.
With the intention to give the events time to finalize documentation for the restructuring of the Mortgage, EDC has agreed to postpone principal and curiosity funds to December twenty ninth, 2023. Topic to the execution of ultimate documentation, which is predicted to be accomplished by mid-December, 2023, the Mortgage is to be restructured with the rate of interest capped at 8.5%, capital principal and curiosity funds postponed till Might of 2024, with the unique Mortgage to then be repaid in quarterly instalments of principal and curiosity based mostly on a twenty-five 12 months amortization, and the ultimate steadiness and all capitalized curiosity will probably be repayable when the Mortgage matures in Might of 2029. This restructured Mortgage facility will enable the Firm to work by means of the ultimate steps to carry the brand new Hawkesbury TDP facility to industrial operations.
About Ecolomondo Company
Ecolomondo Company is a Canadian cleantech firm that prides itself after its proprietary Thermal Decomposition know-how TDP which is headquartered in Québec, Canada. It has a 25-year historical past and through this time has been targeted on its improvement of its know-how and the deployment of TDP turnkey services. TDP recovers excessive worth re-usable commodities from scrap tire waste, notably rCB, oil, syngas, fiber and metal. Ecolomondo expects to be a number one participant within the cleantech area and be an energetic contributor to the worldwide round economic system. Ecolomondo trades on the TSX Enterprise Alternate below the image (TSXV:ECM). To be taught extra, go to www.ecolomondo.com
In regards to the Hawkesbury Plant – A 2-Reactor TDP Facility
The Hawkesbury facility constructing is 46,200 sq.ft and has a powerful indoor clearance of 28 ft. It’s state-of-the-art and homes 4 fundamental manufacturing departments, tire shredding, thermal decomposition, recycled carbon black refining and oil fractionation. As soon as totally operational, this facility is predicted to course of 1.3M of scrap tires per 12 months and produce 8.7M lbs of recovered carbon black, 34,608 barrels of oil, 2.9M lbs of metal, and a couple of.6M lbs of course of fuel.
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In regards to the Shamrock Challenge – A 6-Reactor TDP Facility
Processing capabilities for the Shamrock facility is projected at 5.5M per 12 months of end-of-life tires, yielding roughly 35.1M lbs of recovered carbon black, 128,100 barrels of oil, 11.9M lbs of metal, and 10.6M lbs of syngas; roughly 3 times the scale of the Firm’s Hawkesbury (Ontario) plant output. Facility building is predicted to start by the third quarter of 2024 with completion anticipated by the top of the fourth quarter of 2025. Projected price to construct is roughly US $93 million.
Our Mission, Imaginative and prescient & Technique
Ecolomondo’s mission is to be a contributing participant in a dynamic Round Financial system and to extend shareholder worth by producing and supplying giant portions of recovered assets to be re-used within the manufacture of latest merchandise.
Ecolomondo’s imaginative and prescient is to be a number one producer and reseller of recovered assets by constructing and working TDP services, strategically situated in industrialized nations, near feedstock, labor and offtake purchasers.
Our technique is to turn into a significant international builder and operator of TDP turnkey services, for now specializing within the processing of ELTs. Our intent is to develop aggressively in North America and Europe. Our expertise and modular know-how ought to assist us get there sooner and higher. We plan to maintain performing ongoing analysis and improvement to make sure that Ecolomondo stays technologically superior.
ISO Certification
The Firm has obtained ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certification of its Built-in Administration System (IMS), which acknowledges Ecolomondo’s dedication for high quality, environmental impression and well being and security at work.
ISCC Certification
The Firm has obtained the Worldwide Sustainability and Carbon Certification (“ISCC”) for its Hawkesbury TDP facility. ISCC is an impartial International Sustainability Certification System and gives chain-of-custody certification techniques to make sure traceability and feedstock id. It’s an impartial multi-stakeholder initiative and main certification system supporting sustainable, totally traceable, deforestation-free and climate-friendly provide chains. Certifications by ISCC cowl sustainable agricultural biomass, biogenic waste and residues, non-biological renewable supplies and recycled carbon-based supplies.
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Environmental, Social & Governance (ESG)
On the social side the Firm plans to measure international well being and security, damage price and gender range, and at last within the company governance side, the Firm is measuring ethics and anticorruption, ESG reporting and board independence.
About TDP
The TDP course of is technically confirmed and extra superior than most different pyrolysis applied sciences. Over time, our Technological groups had been in a position to overcome all uncertainties that plagued most opponents particularly in these areas: pre-filtration, reactor cooling, reactor rotation, water recycling, processing of rCB, (hydrocarbon removing), mass monitoring, warmth curve improvement, humidity and water removing, security testing, system automation, emissions management and monitoring.
TDP is Environmentally Pleasant – CO2 Discount
By producing rCB, TDP reduces GHG emissions by 90% versus the manufacturing of virgin carbon black. The manufacturing of rCB on the Hawkesbury and Shamrock services are anticipated to scale back CO2 emissions by 22,400 and 67,200 tons per 12 months, respectively.
Please comply with Ecolomondo on Twitter, Fb, LinkedIn, Instagram and YouTube.
Twitter: https://twitter.com/EcolomondoECM
Fb: https://www.fb.com/EcolomondoECM
LinkedIn: https://www.linkedin.com/firm/ecolomondo/
Instagram: https://www.instagram.com/ecolomondoecm/
YouTube: https://www.youtube.com/@Ecolomondo
Cautionary Be aware Relating to Ahead Wanting Statements
The knowledge on this information launch contains sure info and statements about administration’s view of future occasions, expectations, plans and prospects that represent ahead wanting statements. These statements are based mostly upon assumptions which can be topic to important dangers and uncertainties. Due to these dangers and uncertainties and because of a wide range of elements, the precise outcomes, expectations, achievements or efficiency might differ materially from these anticipated and indicated by these forward-looking statements. Though Ecolomondo believes that the expectations mirrored in ahead wanting statements are affordable, it can provide no assurance that the expectations of any forward-looking statements will show to be right. Besides as required by legislation, Ecolomondo disclaims any intention and assumes no obligation to replace or revise any forward-looking statements to replicate precise outcomes, whether or not because of new info, future occasions, adjustments in assumptions, adjustments in elements affecting such forward-looking statements or in any other case.
Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.
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Contacts
Ecolomondo Company
Eliot Sorella
Chairman and Chief Government Officer, Ecolomondo
Tel: (450) 587-5999
esorella@ecolomondocorp.com
www.ecolomondo.com
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