ECOLOMONDO LAUNCHES US EXPANSION ANNOUNCING SIX-REACTOR TDP FACILITY BUILD IN SHAMROCK, TEXAS
Published On: January 10, 2022 | Last Updated: May 3, 2022 | Categories: Press Releases |
Montreal, QC, January 10, 2022 – Ecolomondo Corporation (TSXV:ECM) (OTC:ECLMF) (the "Company" or "Ecolomondo"), a cleantech company commercializing its proprietary recycling technology, Thermal Decomposition Process ("TDP") and specializing in the building and operation of turnkey TDP facilities, today announced plans to build and operate a six-reactor turnkey TDP facility in Shamrock, Texas. This will be the Company's first US-based waste-to-resources TDP plant capable of processing and recycling end-of-life tires ("ELT") into saleable recycled commercial resources for re-use.
Shamrock, Texas
The Company further announces that it has entered into a binding land purchase agreement for a 136.76 acre parcel of land on I-40 in Shamrock, Texas, for the proposed plant construction. In the binding agreement, the Shamrock Economic Development Corporation will purchase the land and resell it to Ecolomondo for US $1.00 in consideration for selecting Shamrock, TX, as the location for its US launch.
Production capabilities for the six-reactor facility suggest an estimated 50,000 metric tons of ELTs that could be processed each year, yielding approximately 15,900 metric tons of recovered carbon black (rCB), 128,100 barrels of oil, 5,400 metric tons of steel, 2,550 metric tons of fiber and 4,800 metric tons of syngas; roughly three times the size of the Company's Hawkesbury (Ontario) plant output that will soon commence commercial operations.
The Shamrock facility will serve as the Company's flagship into the US market. Coupled with the production capacity of the Hawkesbury (Ontario) facility, the Company will produce over 21,000 metric tons of rCB per year that will be available to serve the North American market.
"We have worked diligently for many years to develop and refine our technology and proprietary processes. Ecolomondo now holds some of the most advanced commercially available technology and capacity for processing ELTs," said Eliot Sorella, President and Chief Executive Officer of Ecolomondo. "We are extremely proud to be expanding into the US with the goal to aggressively add new TDP facilities while focusing on triple bottom line benefits of looking after people, planet and profit."
During the last 2 ½ years, Ecolomondo has been and is still working closely with the Shamrock Economic Development Corporation to ensure long lasting local economy benefits take root. At peak production, the partners expect to create approximately 70 direct and 140 indirect jobs, not to mention tens of millions of economic benefits for the region.
Facility construction is expected to begin by the first quarter of 2023 with completion expected by the mid 2024 and to have a projected cost to build of approximately US $80 million.
The Company is currently in progressive discussions to secure the required project financing and pursuing the selection of a potential joint venture partner.
Go-to-Market Strategy Update:
As Ecolomondo finalizes commercialization plans for its Hawkesbury (Ontario) TDP facility, the Company is turning focus toward international growth plans. Ecolomondo's strategy is to become a full-service TDP facility operator and to be a global manufacturer and vendor of recycled resources: rCB, oil, steel, fibre, and syngas.
The Company believes that its knowledge and operational experience spanning over 25+ years in processing ELTs, to convert waste into saleable end-products affords it a competitive advantage over the competition. The Company believes its experience to build and its ability to deliver TDP turnkey facilities in 12-18 months due to the Company's proprietary modular technology will allow the Company to build more facilities in less time and at a lower cost.
Ecolomondo's strategy is to retain a controlling interest in every US-based turnkey TDP facility that it builds through its recently established US holding company, Ecolomondo Corporation U.S.A. Inc., a wholly-owned subsidiary of Ecolomondo Corporation. The Company intends to work with local, state and federal authorities throughout the US to identify possible future locations for turnkey TDP facilities with first consideration to feedstock availability, labor pool and other regional benefits.
About TDP Technology
Thermal Decomposition Process technology is a proprietary waste-to-resources technology that the Company expects will play a critical role in the development and proliferation of the circular economy. TDP is a closed loop, slow pyrolysis technology that operates in an oxygen-free environment using positive pressure and a batch rotary reactor. The process is largely energy self-sufficient. Ecolomondo's exclusive automation system allows for strict control of cycle times, processing parameters and consistent batch production, resulting in quality and commercial-grade recycled commodities.
Ecolomondo is a Canadian cleantech company commercializing its proprietary recycling technology (TDP) and specializing in the building and operation of turnkey TDP facilities. With 25+ years of industry experience and a track record of establishing strong circular economy partnerships, the Company is strategically positioned to become a major global operator of turnkey TDP facilities that convert hydrocarbon waste into saleable end-products including recycled carbon black, oil, gas and steel.
Revenue growth will come from the operations of fully-automated and energy self-sufficient TDP facilities and from the sale of end-products, tipping fees and carbon credits. Ecolomondo's initial focus is to aggressively pursue TDP facility market penetration throughout North America, as management has been speaking with numerous public and private sector groups looking for breakthrough solutions extending across the entire product management and processing lifecycle.
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Ecolomondo believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking
statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Eliot Sorella,