ECM:CC - Ecolomondo Announces Multi-Million Dollar Offtake Agreement for Recovered Carbon Black from Leading Manufacturing Company
(TheNewswire)
Montreal, QC – TheNewswire - March 16, 2022 -- Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “ Company ” or“ Ecolomondo ”), a cleantech company specializing in thecommercialization of its Thermal Decomposition Process(“ TDP ”) proprietary recycling technology and building andoperating turnkey TDP facilities globally, announces that it hassecured an offtake agreement for up to 80% of its Recovered CarbonBlack (rCB) production from the Company’s Hawkesbury TDPfacility.
The initial purchase order is for 8 truckloads of rCBtotalling 181 metric tons for delivery in April and May 2022, followedby 10 truckloads per month and growing to 20 monthly over the nextyear. The Hawkesbury TDP plant has an estimated annual rCB productioncapacity of 5,300 tons having a potential value of over US$7 millionat the current market price. Recovered carbon black is produced byprocessing end-of-life tires using Ecolomondo’s proprietarypyrolysis process. The market for rCB is rapidly growing, as rCB isconsidered as a favorable substitute for virgin carbon black due toits exceptional chemical composition and its low environmentalfootprint.
“This Agreement solidifies the fact that themanufacturing industry is actively embracing rCB as a sustainablemeans to ensure steady supply of a high-demand resource,” statedEliot Sorella, Chairman & CEO. “Our trendsetting technology,along with our dedication to product quality, are clearly resonatingwith buyers and helping to position Ecolomondo as a leading supplierof rCB.”
Comprised of four different processing departments(Tire Shredding, Thermal Processing, Recovered Carbon Black and OilFractionation), the Hawkesbury TDP facility is expected to process aminimum of 14,000 tons of tire waste per year when fully operational,producing 5,300 tons of recovered carbon black, 42,700 barrels of oil,1,800 tons of steel, 1,600 tons of process gas and 850 tons of fiberwhen operating at full capacity.
About TDP Technology
Thermal Decomposition Process technology is a proprietarywaste-to-resources technology that the Company expects will play acritical role in the development and proliferation of the circulareconomy. TDP is a closed loop, slow pyrolysis technology that operatesin an oxygen-free environment using positive pressure and a batchrotary reactor. The process is largely energy self-sufficient.Ecolomondo’s exclusive automation system allows for strict controlof cycle times, processing parameters and consistent batch production,resulting in quality, commercial-grade recycled commodities andend-products.
About Ecolomondo Corporation
Ecolomondo is a Canadian cleantech company specializing in thecommercialization of its waste-to-products operations and proprietaryTDP technology. With 25+ years of industry experience and a trackrecord of establishing strong circular economy partnerships, theCompany is strategically positioned to become a major global vendor ofturnkey TDP facilities that convert hydrocarbon waste into saleableend-products including recycled carbon black, oil, gas andsteel.
Revenue growth will come from the sale offully-automated and energy self-sufficient TDP facilities androyalties from the sale of end-products, tipping fees and carbon credits. Ecolomondo’s initial focus is toaggressively market TDP facility expansion throughout North America,as management has been speaking with numerous public and privatesector industry groups looking for breakthrough solutions extendingacross the entire product management and processing lifecycle.
Cautionary NoteRegarding Forward Looking Statements
The information in this news release includes certaininformation and statements about management's view of future events,expectations, plans and prospects that constitute forward lookingstatements. These statements are based upon assumptions that aresubject to significant risks and uncertainties. Because of these risksand uncertainties and as a result of a variety of factors, the actualresults, expectations, achievements or performance may differmaterially from those anticipated and indicated by theseforward-looking statements. Although Ecolomondo believes that theexpectations reflected in forward looking statements are reasonable,it can give no assurance that the expectations of any forward-lookingstatements will prove to be correct. Except as required by law,Ecolomondo disclaims any intention and assumes no obligation to updateor revise any forward-looking statements to reflect actual results,whether as a result of new information, future events, changes inassumptions, changes in factors affecting such forward-lookingstatements or otherwise.
For further information pleasecontact:
Eliot Sorella,
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
esorella@ecolomondocorp.com
www.ecolomondo.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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