ECM:CC - Ecolomondo Provides Results of its Annual General Meeting Held On June 28 2024
(TheNewswire)
Montreal, QC, July 2, 2024 – TheNewswire – Ecolomondo Corporation (TSXV: ECM) (OTC:ECLMF) (the “ Company ” or “ Ecolomondo ”), acleantech company specializing in the commercialization of its ThermalDecomposition Process (“ TDP ”) proprietary recycling technology andthe global deployment of TDP turnkey facilities, wishes to inform its shareholders that, during theCompany’s annual general meeting of shareholders (the“ AGM ”) that was virtually held on June 28, 2024, theshareholders of the Company (the “ Shareholders ”)unanimously adopted all resolutions presented to them outlined in theinformation circular that was sent to them and filed on SEDAR datedMay 29, 2024 (the “ Information Circular ”).
The Shareholders approved all resolutions put beforethem, namely: (i) setting the number of the board of directors toeight and the election of the directors of the Company for the ensuingyear (for further information on the elected directors, please referto the Information Circular), (ii) the re-appointment of RaymondChabot Grant Thornton LLP as auditors for the ensuing year; and (iii)the Company’s “rolling” stock option plan.
During the AGM, the Shareholders voted in favor of 2new members on the Board of Directors, the Honourable ChristianParadis and Mr. Michael Frankel, in replacement of Mrs. SuzaneDesrosiers and Mr. Joseph Sorella, each of whom had completed theirterm.
The Honourable Christian Paradis is president ofParadis Solutions & Associates, a business development consultingfirm. He was a Member of Parliament of Canada from 2006 to 2015 andserved as Minister of Industry and Natural Resources. He also wasSenior Vice President, Strategic Development at the multinationalsecurity firm GardaWorld and, previously, he practiced corporate law.
Michael Frankel is an experienced business advisor andconsultant. He was a partner with Richter LLP, a large business andfamily office advisory firm. His experience includes private andpublic companies, in multiple industry sectors. He has served over thelast 40 years on numerous local, national, and internationalnot-for-profit boards, including the Federation CJA, the RoyalVictoria Hospital Foundation and the Jewish Community Foundation ofMontreal.
The AGM was duly constituted and a total of 177,460,212common shares were represented at the AGM, representing 82.66% of theissued and outstanding common shares of the Company.
During the AGM, the CEO of the Company, Mr. GaryEconomo, presented a very vivid presentation on the Company’stechnology, purpose and vision for the future.
About Ecolomondo Corporation
Ecolomondo Corporation is a Canadian cleantech company that prides itself after its proprietary ThermalDecomposition technology TDP which is headquartered in Québec, Canada . It has a 25-year history and during this time has been focused on its development of itstechnology and the deployment of TDP turnkeyfacilities . TDP recovers high value re-usable commodities from scrap tire waste, notably rCB, oil , syngas, fiber and steel. Ecolomondo expects to be a leading player in the cleantechspace and be an active contributor to the global circular economy. Ecolomondo trades in Canada on the TSX VentureExchange under the symbol (TSXV:ECM) and in theUnited States under the symbol (OTCQB:ECLMF). To learn more, visit www.ecolomondo.com
About the Hawkesbury Plant – A2-Reactor TDP Facility
The Hawkesbury facility building is 46,200 sq.ft andhas an impressive indoor clearance of 28 feet. It is state-of-the-artand houses 4 main production departments, tire shredding, thermaldecomposition, recycled carbon black refining and oil fractionation.Once fully operational, this facility is expected to process 1.3M ofscrap tires per year and produce 8.7M lbs of recovered carbon black,34,608 barrels of oil, 2.9M lbs of steel, and 2.6M lbs of processgas.
About the Shamrock Project – A6-Reactor TDP Facility
Processing capabilities for the Shamrock facility isprojected at 5.5M per year of end-of-life tires, yieldingapproximately 35.1M lbs of recovered carbon black, 128,100 barrels ofoil, 11.9M lbs of steel, and 10.6M lbs of syngas; roughly three timesthe size of the Company’s Hawkesbury (Ontario) plant output.Facility construction is expected to begin by the third quarter of 202 4 with completion expected by the endof the fourth quarter of2025. Projected cost to build is approximately US $93 million.
Our Mission , Vision & Strategy
Ecolomondo’s mission is to be a contributingparticipant in a dynamic Circular Economy and to increase shareholdervalue by producing and supplying large quantities of recoveredresources to be re-used in the manufacture of new products.
Ecolomondo’s vision is to be a leading producer andreseller of recovered resources by building and operating TDPfacilities, strategically located in industrialized countries, closeto feedstock, labor and offtake clients.
Our strategy is to become a major global builder andoperator of TDP turnkey facilities, for now specializing in theprocessing of ELTs. Our intent is to expand aggressively in NorthAmerica and Europe. Our experience and modular technology should helpus get there faster and better. We plan to keep performing ongoingresearch and development to ensure that Ecolomondo remainstechnologically advanced.
ISCC Certification
A confirmation of the Company’s successful processlies in the recent International Sustainability and CarbonCertification (“ISCC”) for its Hawkesbury TDP facility, anotherstep forward that should help improve demand for TDP. ISCC is a GlobalSustainability Certification System and offers chain-of-custodycertification systems to ensure traceability and feedstock identity,which can add commercial value to the Company’s end-products as theyremain traceable in the supply chain.
ISO Certification
The Company has obtained ISO 9001:2015, ISO 14001:2015& ISO 45001:2018 certification of its Integrated Management System(IMS), which acknowledges Ecolomondo’s commitment for quality,environmental impact and health and safety at work.
Environmental, Social &Governance (ESG)
On the social aspect the Company plans to measureglobal health and safety, injury rate and gender diversity, andfinally in the corporate governance aspect, the Company is measuringethics and anticorruption, ESG reporting and board independence.
About TDP
The TDP process is technically proven and moreadvanced than most other pyrolysis technologies.Over the years, our Technological teams were able to overcome alluncertainties that plagued most competitors especially inthe s e areas:pre-filtration, reactor cooling, reactor rotation, water recycling, processing of rCB,(hydrocarbon removal), mass monitoring, heat curve development,humidity and water removal, safety testing, system automation,emissions control and monitoring .
TDP is Environmentally Friendly –CO 2 Reduction
By producing rCB, TDP reduces GHG emissions by 90%versus the production o fvirgin carbon black. The production of rCB at the Hawkesbury andShamrock facilities are expected to reduce CO2 emissions by 22,400 and 67,200 tons per year,respectively.
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Ecolomondo Corporation Contact
Gary Economo
Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
geconomo@ecolomondocorp.com
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.
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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