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Montreal, August 29, 2018 Ecolomondo Corporation (TSX-V: ECM) (the “Company” or “Ecolomondo”) releases its unaudited interim condensed consolidated financial statements and notes hereto and its related management discussion & analysis as of and for the three and six months ended June 30, 2018 (the “Interim Financial Statements”).
During this quarter, the Company kept actively working to advance its:
Partial commercialization of the Company’s Contrecoeur facility. The Company expects to achieve this milestone on schedule, by the end of the third quarter of 2018.
Construction of the Hawkesbury Thermal Decomposition Process (“TDP”) facility. This project is progressing according to schedule and management believes that the construction of this facility should begin late 2018 or early 2019.
The partial commercialization of the Contrecoeur facility and the construction of the Hawkesbury TDP facility are important steps in the Company’s marketing strategy because they will be used to showcase the Company’s TDP turnkey facilities to potential customers.
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.
Management believes that technological breakthroughs in areas of emissions, process optimization, automation, end-product processing and safety, position Ecolomondo to become an industry leader.
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.
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.
For further information please contact:
Chairman and Chief Executive Officer, Ecolomondo
Tel: (450) 587-5999
Renmark Financial Communications Inc.
Tel: (416) 644-2020 or (514) 939-3989
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.