ECM:CC - ECOLOMONDO Releases its Interim Consolidated Financial Statements for the Second Quarter of 2022

(TheNewswire)

Montreal, QC – TheNewswire- September 6, 2022 -- Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the “ Company ” or“ Ecolomondo ”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process(“ TDP ”) proprietary recycling technology and the building andoperating of turnkey TDP facilities globally, announces that it has released its unaudited consolidatedfinancial statements and notes thereto and its related managementdiscussion and analysis for the interim period ended June 30, 2022(the “ Interim FinancialStatements ”). The documents are available onSEDAR at www.sedar.com

Highlights of the Q2 Interim Financial Statementsare:

• As of June 30, 2022, total assets were $42,245,221,compared to $41,587,914 as of December 31, 2021.

• General and administrative expenses increased mostlydue to increases in managerial costs, for the Hawkesbury project andcosts related to its commissioning, higher foreign exchange loss,along with costs related to the Company’s marketing and expansionactivities.

• During the three-month period ended June 30, 2022, theCompany continued to invest in the Hawkesbury project. Managementexpects that working capital will materially improve with (i) theexercise of $1,000,000 of stock options (which as of today hasconcluded), (ii) the completion of the transaction with the jointventure partner in the Hawkesbury project, (iii) the soon anticipatedstart-up of operations at the Hawkesbury facility, and (iv) theconclusion of the Third Amending Agreement with Export DevelopmentCanada (which as of today has concluded).

For more details on these Q2 Interim FinancialStatements of Ecolomondo, visit www.sedar.com or www.ecolomondo.com

During the quarter ended June 30, 2022, the Companycontinued to market its TDP turnkey facilities and to commission itsnew Hawkesbury TDP turnkey facility. The Company expects to beginoperations in Q4 2022 and gradually ramp up to full production soonthereafter, however the ongoing strike by TSSA inspectors that beganon July 21, 2022, could impact the start-up date if the strikeprolongs for an extended period. The Company believes it will begin toship products as production begins, because of its previously receivedpurchase orders for most of the end-products produced at theHawkesbury TDP facility.

During the quarter ended June 30, 2022, the Companycontinued to work on its global expansion and developed an efficientglobal sales team that is expected to promote its TDP technology andto secure offtake agreements not only for the Hawkesbury and Texasfacilities, but also those offtake agreements needed for any new TDPfacility built.

In line with its global expansion strategy, the Companyrecently announced its latest project, a six-reactor TDP facility tobe located in Shamrock, Texas. Working in close consultation with theShamrock Economic Development Corporation, Ecolomondo has finalizedthe land purchase agreement of a 136.76 acre parcel of land inShamrock, Texas as the site for the proposed plant construction.Production capabilities for the Shamrock facility suggest estimatedyields that are approximately three times the size of the Company’sHawkesbury (Ontario) plant output. Projected cost to build the Texasfacility is approximately US $90 million and the facility is expectedto generate estimated revenues of approximately US $50 million. TheCompany is currently in advanced discussions tosecure the required project financing, securing feedstock, offtakeagreements and identifying a potential joint venture partner.

Supported by increasing global consumption, the Companyexpects that there will continue to be an abundant supply of scraptire feedstock for the foreseeable future. The Company expects thatthe continued global expansion of tire manufacturing should generatean increasing and stable supply of scrap tire feedstock that shouldhelp drive Ecolomondo’s future growth.

TDP is Environmentally Friendly –CO 2 Reduction

By producing rCB, TDP reduces GHG emissions by 90% versus theproduction if virgin carbon black. The production of rCB at theHawkesbury and Shamrock facilities will reduce CO 2 emissions by 22,400 and 67,200 tonsper year, respectively.

About TDP

The TDP system is technically proven and issuperior to other pyrolysis technologies. Over the years, ourTechnical Teams were able to overcome all uncertainties that plaguedmost competitors especially in these areas: pre-filtration, reactorcooling, reactor rotation, reactor evacuation, water recycling,cleaning of rCB (hydrocarbon removal), mass monitoring, heat curvedevelopment, humidity and water removal, safety testing, full systemautomation, emissions control and monitoring, rCB and pyrolysis oilpost processing, efficient syngas reuse.

About Ecolomondo Corporation

Ecolomondo Corporation is a Canadian cleantech company headquarteredin Québec, Canada with an over 25-year history focused onwaste-to-resource technology development and deployment. Ecolomondohas developed the proprietary TDP which recovers high value circularcommodities from end-of-life tires including rCB, oil and steel. TDPlowers carbon emissions by up to 90% versus virgin carbon blackproduction. Ecolomondo has adopted a triple bottom line approach tobusiness focused on people, planet, and profit. Ecolomondo trades onthe TSX Venture Exchange under the symbol (TSXV:ECM). To learn more,visit www.ecolomondo.com

Ecolomondo Corporation Contact

Eliot Sorella

Chairman and Chief Executive Officer, Ecolomondo

Tel: (450) 587-5999

esorella@ecolomondocorp.com

www.ecolomondo.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 lookingstatements are reasonable, it can give no assurance that theexpectations of any forward-looking statements will prove to becorrect. Except as required by law, Ecolomondo disclaims any intentionand assumes no obligation to update or revise any forward-lookingstatements to reflect actual results, whether as a result of newinformation, future events, changes in assumptions, changes in factorsaffecting such forward-looking statements 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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