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MONTREAL, May 30, 2019 /CNW Telbec/ - Ecolomondo
Corporation (TSXV: ECM)
(the "Company" or "Ecolomondo")
releases its unaudited interim condensed consolidated financial
statements and notes hereto and its related management discussion
& analysis ("MD&A") for the interim period ended
March 31, 2019 (the "Interim
Financial Statements").
During the first quarter of 2019, the Company continued to
market its Thermal Decomposition ("TDP") technology and to
promote its TDP turnkey facilities. It continued its work to
partially commercialize its Contrecoeur facility and made considerable
progress on its Hawkesbury turnkey
project.
The Company was able to conclude successfully its project
financing with EDC, to build the Hawkesbury TDP turnkey facility.
Management now expects to break ground in June 2019 and believes that construction and
commissioning can be completed by the end of the first quarter of
2020.
About Ecolomondo Corporation
The Company is a clean tech company that is marketing its
proprietary Thermal Decomposition Platform ("TDP"), that
recovers resources from end-of-life tires, namely recovered carbon
black, oil, gas and steel.
The Company expects that its main revenue drivers are the sale
of TDP turnkey facilities based on its thermal decomposition
technology and to collect royalties from their operation, including
revenues from the operations of wholly-owned and joint venture
turnkey facilities. TDP turnkey facilities generate their revenues
by selling the recovered resources (end-products) that they
produce, namely the recovered carbon black, oil, gas and steel.
Ecolomondo recovers a high percentage of carbon black (the
end-product with the highest commercial value) and produces high
quality end-products from tire waste and the process is energy
self-sufficient.
Ecolomondo's TDP technology began development over 25 years ago.
Today, it is a waste-to-resources company and will benefit from the
proliferation of the circular economy.
Waste-to-resources technologies such as Ecolomondo's are
expected to play a pivotal role in the circular economy. It is
expected that a dynamic circular economy will encourage recycling,
new opportunities and ready markets to recycled resources.
Ecolomondo is well positioned to take advantage of this new global
reality of recycling.
Cautionary Note Regarding Forward Looking Statements
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 assurances 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Ecolomondo Corp