The sale of property to a company which will be recovering carbon and oil and gas products from tires has been finalized. Ecolomondo Corporation (TSXV: ECM) (the “Company” or “Ecolomondo”) has purchased a site to build its latest Thermal Decomposition (“TDP”) turnkey facility on Tessier Street.
The company paid $400,000, which includes a contribution of $315,000 to build an extension of Tessier Street.
Site work is to begin immediately, including deforestation and geotechnical reports required for municipal and environmental permit applications.
The new TDP facility is expected to be built on approximately 13.4 acres and to be housed in a building of approximately 50,000 square feet. This facility will be equipped with the latest generation technology and is expected to have the capacity to process approximately 13,000 tons of end-of-life tires per year. It is expected to recover 5,000 tons of carbon black, 6,5 million liters of oil, 1,200 tons of process gas and over 1,600 tons of steel per year.
Once commissioned, this facility will be used as a showpiece to bring visibility and to garner global attention to the company’s technology.
To spearhead construction of this facility, Ecolomondo has concluded an EPCM (Engineering, Procurement, Construction, Management) service agreement with Ultragen, a prominent engineering company highly experienced in the areas of waste processing and petrochemicals. Ecolomondo expects to begin construction by the Fall of 2018 and to achieve final completion between the second and third quarters of 2019.
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.
The company’s main revenues will come from the sale of TDP turnkey facilities and royalties from 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.