ECLMF - Ecolomondo Releases 2021 Second Quarter Interim Financial Statements and Provides Business Update

(TheNewswire)

Montreal – TheNewswire- August 30, 2021 - Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “ Company ” or “ Ecolomondo ”), a cleantech companyspecializing in the development of proprietary Thermal Decomposition Process (“ TDP ”) recyclingtechnology and the commercialization of turnkey TDP facilities used to transform tires, plastics and otherhydrocarbon waste into salable renewablecommodities, today releases the Company’s unaudited interim consolidated financial statements andrelated management discussion & analysis (“ MD&A ”) for theinterim period ended June 30, 2021 (the“ Interim FinancialStatements ”).

During the second quarter of 2021, the Companycontinued to aggressively market its TDP turnkey facilities whileworking towards completion of its new $40 million Hawkesbury TDPturnkey facility (the “ Project ”).

Business and OperatingUpdates:

• - As of June 30, 2021, capital expenditures totaled$30,903,428, predominantly for the Hawkesbury facility. The ExportDevelopment Canada ( “ E DC ”) term loan reached $31,672,191.

• - Management reports that mechanical assembly andinstallation are on track and scheduled to be completed by September2021. Commercial operations expected to begin and scale during thefourth quarter of 2021.

• - The Hawkesbury facility is projected to generateannual revenues of over $10 million with an EBITDA of over $5 millionin its first full year of continued operation.

• - The Company continued efforts to secure feedstocksupplies and markets for its recovered carbon black, also known as“Mondo Black”, both domestically and internationally.

The Hawkesbury TDP facility will redefine scrap tireprocessing, creating renewable products at a much cleaner and saferenvironment, all at a cheaper cost. Comprised of four differentprocessing departments (shredding, thermal processing, recovered carbon black processingand oil fractionation) the facility is expected to process a minimum of 14,000 tons of tirewaste per year when fully operational, producing 5,300 tons ofrecovered carbon black, 42,700 barrels of oil,1,800 tons of steel, 1,600 tons of process gas and 850 tons of fiberat full capacity.

Management cites the successful commercial operation ofthe Hawkesbury facility as an important first milestone towardachieving the Company’s global growth strategy. The Company iscurrently in talks to formalize the sale of several TDP turnkeyfacilities in North America.

Eliot Sorella, Chairman and Chief Executive Officer,said: “The Hawkesbury TDP facility willredefine scrap tire processing, creating renewable products at a muchcleaner and safer environment, all at a cheaper cost. Management believes that strengthening demand, particularlyin the Western Hemisphere, along with a tightening supply for virgincarbon black should set the stage for higher demand and prices in thefuture for recovered carbon black. insuring a sustainable supply. Weare on a path to become a major global manufacturer, vendor andoperator of TDP turnkey facilities that not only process tires, butalso other types of hydrocarbon waste such as plastics and roofshingles. This is only the beginning.”

Related discussion and analysis have been filed and areavailable for review on the SEDAR website at www.sedar.com . Please visitthe Company’s website at www.ecolomondo.com for updates on theCompany’s Hawkesbury facility and other businessdevelopments.

About TDP Technology

Ecolomondo has spent over 25 years to develop itsproprietary Thermal Decomposition Process (“ TDP ”) technology. TDP is a waste-to-resources technology that is expected to play acritical role in the development and proliferation of the circulareconomy. TDP is a closed loop, slow pyrolysistechnology that operates in an oxygen-free environment using positive pressure and a batchrotary reactor. The process is largely energy self-sufficient. Ecolomondo’s exclusive automation systemallows for strict control of cycle times, processing parameters andbatch production, consistent batch production, resulting incommercial-grade recycled commodity end-products that are bothconsistent and superior in quality.

About Ecolomondo Corporation

Ecolomondo is a Canadian cleantech company specializing in thecommercialization of its waste -to-products operations and proprietary Thermal DecompositionProcess (“ TDP ”) technology. With 25+ years ofindustry experience and a track record of establishing strong circular economypartnerships, the Company is strategically positioned to become amajor global vendor ofturnkey TDP facilities that convert hydrocarbon waste into marketable commodity end-productsincluding carbon black substitute, oil, gas and steel.

Revenue growth will come from the sale offully-automated and energy self-sufficient TDP facilities and royalties from the saleof end-products, tipping fees and carbon credits. Ecolomondo’s initial focus is to aggressively market TDPfacility expansion throughout North America , as management has beenspeaking with numerous public and private sector industry groups looking for breakthroughsolutions extending across the entire product management andprocessing lifecycle.

Cautionary Note Regarding ForwardLooking 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- looking statements. Thesestatements are based upon assumptions that are subject to significant risks and uncertainties.Because of these risks and uncertainties and as a result of a varietyof factors , the actualresults, expectations, achievements or performance may differmaterially from thoseanticipated and indicated by these forward-looking statements.Although Ecolomondo believes that the expectations reflected in forward looking statementsare reasonable , it cangive no assurances that the expectations of any forward-lookingstatements will prove tobe correct. Except as required by law, Ecolomondo disclaims anyintention and assumes noobligation to update or revise any forward-looking statements toreflect actual results ,whether as a result of new information, future events, changes inassumptions, changes in factors affecting such forward-looking statements or otherwise.

For further information please contact:

Elio Sorella,

Chairman and Chief Executive Officer, Ecolomondo

Tel: (450) 587-5999

esorella@ecolomondocorp.com

www.ecolomondo.com

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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