Canada’s Cielo Waste Solutions Corp. (CNSX:CMC and OTCQB: CWSFF) recently announced that its joint-venture (JV) partner had found a suitable location for their facility that will be designed to convert waste into renewable fuels.
The JV partner, Renewable U Medicine Hat Inc., has secured an agreement in principle to purchase 32.4 hectares of land in Cypress County, Alberta. The land is situated within the approximately 3-kilometres from the town of Medicine Hat.
Renewable U Medicine Hat has also informed Cielo that is has funding in place to close the purchase and sale agreement, subject to numerous conditions, before or on July 1, 2020, the waste-to-fuel company said.
The planned facility will be engineered to grind multiple waste feedstocks and convert them into renewable fuels that can be blended into conventional highway transportation, marine and aviation fuels. It is estimated that the cost to build and commission the facility will be $50 million.
Initial production output is seen at 32.7 million litres of renewable fuels per year on 65,000 tonnes/year of feedstock. The partners contemplate to keep the facility running for 341 days a year.
Cielo expects the construction phase to employ around 50 to 70 people. Once the production starts, the facility will provide some 25 full-time jobs, the company said.
About Cielo Waste Solutions Corp.
CIELO Waste Solutions Corp. is a publicly traded company with its shares listed to trade on the Canadian Securities Exchange (“CSE”) under the symbol “CMC”, as well as OTC Markets Group, on the OTCQB, under the symbol “CWSFF”. CIELO’s technology transforms landfill garbage into renewable high-grade diesel and aviation jet fuel. CIELO’s proven and patent-pending technology is currently being deployed in the Company’s Aldersyde, Alberta Renewable Diesel Facility, where wood waste is currently being converted into renewable fuels.
