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.
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.