ECLMF - Ecolomondo Releases Q3 2021 Interim Financial Statements and Provides Business Update

(TheNewswire)

Montreal – TheNewswire- November 22 , 2021 EcolomondoCorporation (TSXV:ECM) (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 September 30, 2021 (the“ Interim FinancialStatements ”).

Financial and Business Updates:

• - During the month of September 2021, Ecolomondo raisedgross proceeds of $4.0 million with a non-brokered private placement,consisting of 6,153,845 units at a price of $0.65 per Unit. TheCompany plans to allocate the proceeds to general working capitalpurposes and to the acceleration of the Company’s North Americanexpansion.

• - As of September 30, 2021, capital expenditurestotaled $35,763,953, predominantly for the Hawkesbury TDP facility,while the term loan from the Export Development Canada ( “ E DC ”) term loan wasfully disbursed at $32,125,000.

• - During the quarter ended September 30, 2021, theCompany continued to market its TDP turnkey facilities. With theHawkesbury TDP facility approaching completion, the Company iscurrently in talks for the sale of several TDP turnkey facilities inNorth America.

Hawkesbury Updates:

• - Hawkesbury project costs and cash flows remain withinthe guidelines of loan covenants with Export Development Canada (EDC).As of September 30, 2021, total estimated budget for the HawkesburyTDP turnkey facility stands at approximately $38.375 million, of whichapproximately $32.125 million comes from the loan facility from EDCand the balance of approximately $6.25 million from the Company hasalready been contributed as agreed.

• - The Company expects the Hawkesbury TDP commercialoperations that include end-of-life tire crumb rubber and carbon blackprocessing to commence this fiscal Quarter. Once built, the plant willbe equipped with the latest technology and is designed to ensureefficient handling and processing of large quantities of feedstock(scrap tires) and end-products: oil, steel, fiber, recycled carbonblack and process gas. All major mechanical assembly and installationhave been completed. Commissioning of the plant’s power grid isnearing completion, with testing of carbon black and crumb rubberprocessing equipment, along with thermal decomposition and oilfractionation equipment, to soon follow.

• - The Company announced on October 25, 2021 that itreceived Environmental Compliance Approvals (“ ECA s”) from theOntario Ministry of Environment, Conservation and Parks(“ MECP ”) to operate its Hawkesbury facility.

• - The Company announced on October 12, 2021 that it hasentered into a long-term supply agreement with Recyc-Quebec to deliverover 31,000 short tons of end-of-life-tire (ELT) feedstock untilDecember 2023, with estimated total revenue from tipping fees andrelated handling charges to be approximately $3.4 million.

• - The Company continued its efforts to secure marketsfor its recovered carbon black, also known as “Mondo Black”, anits other end-products, 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 fiberwhen operating at full capacity.

Management cites the successful commercial operation ofthe Hawkesbury TDP facility as a pivotal milestone toward achievingthe Company’s global growth strategy.

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 http://www.ecolomondo.com/ for updates on the Company’s Hawkesbury facility and other businessdevelopments.

AboutTDP 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.

AboutEcolomondo Corporation

Ecolomondo is a Canadian cleantechcompany specializing in the commercialization of its waste -to-products operations andproprietary Thermal Decomposition Process (“ TDP ”) 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 of turnkey TDP facilitiesthat convert hydrocarbon waste into marketable commodity end-products including carbonblack 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 breakthrough solutions extending across the entire productmanagement and processing lifecycle.

Cautionary Note Regarding 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- 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 TSX Venture Exchange) accepts responsibility forthe adequacy or accuracy ofthis release.

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