Ecolomondo announces that it has released its interim financial results for the first quarter of 2019
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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
Elio Sorella, Chairman and Chief Executive Officer, Ecolomondo, Tel: (450) 587-5999, [email protected], www.ecolomondo.com
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