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Ecolomondo secures $32 million loan to finance Thermal Decomposition Facility

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Ecolomondo Environmental (Hawkesbury) Inc., a subsidiary of Ecolomondo Corporation (TSXV: ECM)  recently announced that it entered into a loan agreement for $32.1 million in project financing with Export Development Canada (EDC), the proceeds of which are to be used to build the Company’s new, first of its kind turnkey Thermal Decomposition (TDP) facility that will be located in the Town of Hawkesbury, Ontario.

The Town of Hawkebury, where the TDP facility will be built is located on the Ottawa River, half way between the Cities of Ottawa and Montreal.

Once built and fully operational, this turnkey TDP facility is expected to process a minimum of 14,000 tons of tire waste per year and to produce 5,300 tons of recycled carbon black, 42,700 barrels of oil, 1,800 tons of steel and 1,600 tons of process gas.

Management now expects to break ground by June 2019 and to begin commissioning of the TDP facility in the first quarter of 2020, as originally scheduled.

“Ecolomondo is proud to conclude this loan agreement for this innovative project and proud to do so with an extremely professional organization such as Export Development Canada. EDC will be a key player in the commercialization of our cleantech proprietary technology and in doing so EDC is supporting the development of Ecolomondo’s future expansion both in Canada and overseas”, said Elio Sorella, President and CEO, Ecolomondo.

About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, investments, insurance, and connections – to take on the world with confidence. Underlying all EDC support is a commitment to sustainable and responsible business.

About Ecolomondo Corporation

Ecolomondo is a cleantech Canadian company that is commercializing its waste-to-products technology. The Thermal Decomposition Process (TDP) converts hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. Technologies such as Ecolomondo’s are expected to play an important role in resource recovery needed in today’s circular economy.

The Company’s main revenues will come from the sale of TDP turnkey facilities and royalties from their operations. TDP facilities will generate revenues from the sale of end-products, tipping fees and carbon credits. Ecolomondo’s first focus is to market TDP turnkey facilities that use scrap tires as a feedstock, because scrap tires yield end-products with a higher commercial value, especially the recycled carbon black.

PureCycle Technologies finds Partners to Accelerate its Revolutionary Plastics Recycling Process

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PureCycle Technologies, headquartered in Chicago, recently announcing it has partnered with global industrial manufacturer, Milliken & Company, and the world’s largest food and beverage company, Nestlé S.A., as it moves forward with plans to open its first plant to restore used polypropylene (PP) plastic to ‘virgin-like’ quality with a revolutionary recycling method.

PureCycle’s patented recycling process, developed and licensed by Procter & Gamble (P&G), separates color, odor and other contaminants from plastic waste feedstock to transform it into virgin-like resin. Milliken, whose additives will play a critical role in reinvigorating recycled polypropylene, has formed an exclusive supply relationship with PureCycle to help solve the plastics end-of-life challenge. Nestlé is working with PureCycle to develop new packaging materials that help avoid plastic waste, in line with the company’s commitment to make 100% of its packaging recyclable or reusable by 2025.

“These partners are helping us accelerate as we bring this solution to the market,” said Mike Otworth, CEO of PureCycle Technologies. “This is a validation of our method, and it will help us continue to move even more quickly as we make plastics recycling a reality.”

Bringing both consumer market knowledge and technical expertise, Milliken and Nestlé help PureCycle work towards delivering the world’s first virgin-like recycled polypropylene. “The use of Milliken’s additives will help to ensure that PureCycle’s Ultra Pure Recycled Polypropylene (UPRP) is of the highest quality and adds the maximum value to brand owners and consumers. We believe that this partnership will further differentiate PureCycle as both a leading reclaimer and producer of polypropylene,” continues Otworth.

“Milliken understands that creating a sustainable future requires meaningful collaboration with other industry pioneers,” said Halsey Cook, president and CEO of Milliken & Company. “We believe PureCycle’s technology combined with Milliken’s leading plastic additives provide a transformative opportunity to elevate the viability of recycled polypropylene and help solve the plastics end-of-life challenge.”

With technology licensed from P&G, PureCycle is in the midst of building the first plant in Lawrence County, Ohio, that will recycle 119 million pounds of polypropylene, producing over 105 million pounds per year starting in 2021. The momentum created by these new relationships is enabling PureCycle to open the plant’s feedstock evaluation unit, which processes multiple variations of feedstock (waste polypropylene) to optimize plant 1 and subsequent plants.

Today, about 20 percent of polyethylene terephthalate (PET), which is commonly used to make plastic bottles and other consumer goods, is recycled. By contrast, less than 1 percent of polypropylene plastic is currently recycled. PureCycle is the first company to solely focus on recycling and reintegrating polypropylene upstream to highly sensitive consumer product applications, which are used in food and beverage packaging, consumer good packaging, automobile interiors, electronics, home furnishings, and many other products.

PureCycle Technologies will make high-quality, recycled PP widely available for purchase across industries. This technology demonstrates P&G’s commitment to sustainability and helps in achieving P&G’s recycling goals – doubling the use of recycled resin in plastic packaging and ensuring 90 percent of product packaging is either recyclable or programs are in place to create the ability to recycle it. PureCycle’s technology supports P&G’s vision of using 100 percent recycled or renewable materials and having zero consumer waste go to landfills.

Post-consumer plastic recycled using traditional methods (left) and using PureCycle’s process (right)

“Our approach to innovation not only includes products and packaging, but technologies that allow us and others to have a positive impact on our environment. This technology has the capacity to revolutionize the plastics recycling industry by enabling P&G and companies around the world to tap into sources of recycled plastics that deliver nearly identical performance and properties as virgin materials in a broad range of applications,” said Kathy Fish, Chief Research, Development and Innovation Officer, Procter & Gamble.

Image Source: P&G

The global polypropylene market is valued at more than $80 billion, according to Transparency Market research, and is on track to reach $133.3 billion by 2023. The Association of Plastics Recyclers (APR) has identified 1 billion pounds of recycled polypropylene demand in North America alone. The majority of that demand is for ‘high-quality’ recycled polypropylene, APR has said.