VANCOUVER, BC/ ACCESSWIRE / March 20, 2020 / Cielo Waste Solutions Corp. (CSE:CMC)(OTCQB:CWSFF) ("Cielo" or the "Company") announces that Renewable U Halifax Inc. and the Company are actively seeking sources of waste feedstock for the planned Joint Venture Renewable Fuel Facility ("Facility") that will be located in, or within, 150 km of Halifax Nova Scotia. (See Press Release dated January 9, 2020).
This call for Expressions of Interest ("EOI") creates an opportunity for companies and organizations that generate industrial, commercial and municipal waste in Nova Scotia to explore a long term agreement to supply the waste feedstock for our planned facility that is being engineered to convert 8 tonnes of dried waste per hour into approximately 32.7 million liters a year of high grade renewable fuel.
Locations consisting of approximately 80 acres of land, so as to accommodate additional capacity, are being considered. Construction and commissioning of the Facility that is anticipated to employ approximately 50-75 people during construction and 25 once operational are expected to take approximately 18 months to build out.
"We are very optimistic that this EOI for Nova Scotia will provide multiple feedstock sources and help us select the right location for our green waste to energy facility. Our technology can convert multiple different waste streams into high grade renewable fuel without having to sort the feedstock," stated Don Allan, Cielo's President and CEO.
GOVERNMENT UPDATE
Earlier this month, Mr. Allan travelled to Ottawa for a day of highly productive meetings with senior officials from the Government of Canada. The intent of the meetings was to demonstrate how Cielo can help Canada meet its emissions targets on methane and carbon, address the global plastics crisis, and reduce the need for imported biofuel. Cielo met with representatives from Environment and Climate Change Canada, Natural Resources Canada, and Members of Parliament. Discussions focused on forthcoming regulatory challenges and potential areas for collaboration between Cielo and the Government of Canada. Cielo will continue to provide updates as they come available.
OPERATIONS UPDATE
Since early January 2020, Cielo's facility in Aldersyde, Alberta (the "Aldersyde Facility") has been operating full-time, on a continuous-flow basis, with minor short-term customary interruptions. During this period, renewable naphtha and diesel from wood biomass has been produced, which has been a major achievement for Cielo. Cielo's third-party engineering consultants have been providing drawings for the upgraded reactor, feeder hopper and waste line. These drawings have been sent out to different suppliers for quotes and the fabricators are working on completing the necessary upgrades which will allow us to ramp up production to commercial levels.
Over the past 10 weeks, Cielo's management has toured over 60 people through the Aldersyde Facility. These people included current shareholders, interested parties from the U.S., Mexico, the Middle East and across Canada. As a result of the public health COVID-19 crisis, and to protect our staff and contractors, Cielo has stopped all tours for the time being and temporarily laid-off our operators while maintaining essential personnel that are now readying the Aldersyde Facility to be retrofitted with the new equipment that is being built to increase hourly production. During these challenging times Cielo has also served notice to end the engagement with Alliance Capital Partners to provide investor relation services to the Company.
Cielo is in advanced discussions, with an established industry buyer, who after conducting extensive due diligence and reviewing third party lab analysis, is interested in entering into a long term agreement to purchase Cielo's high grade renewable diesel fuel, which is currently being produced at the Aldersyde Facility. The potential buyer does not need the Company to remove the sulfur from the renewable fuels that are being produced. Although reduced fuel prices will impact Cielo's cash flow, it's expected that Cielo's highly efficient production costs will help insulate the Company from current low fuel prices and allow for solid margins on the sale of product. Management believes that Cielo has a healthy advantage over its competitors by using inexpensive feedstocks (waste streams) and significant transport savings. Once the Aldersyde Facility is back up and running, management is encouraged about potential growth opportunity. On March 18, the Cochrane Today newspaper reported that Alberta's Premier Jason Kenney noted recently that economists are projecting a sharp rebound in the global economy in June, based on a surge in pent-up demand.
Mr. Allan further stated "We are optimistic that in the near future we will receive approval from Alberta Environment and Parks ("AEP") for the requested amendments to our operating permit for our Aldersyde Facility. Once in place and once back up and running, we will be able to run alternate waste feedstocks through our Aldersyde Facility and confirm that we can produce high grade renewable fuels from various different waste feedstocks including garbage consisting of household, commercial/construction/demolition garbage, used tires, scrap railway ties and telephone poles as well as all types of plastic that currently cannot be recycled. The amendments from AEP are expected to advance site locations for our joint venture renewable diesel facilities, which we expect will create hundreds of jobs and inject an estimated $250M into the Alberta economy."
On behalf of the Board of Directors of the Company.
Cielo Waste Management Corp.
Don Allan, President / CEO / Director
Investor Contacts
RB Milestone Group, LLC
Trevor Brucato, Managing Director
New York, NY & Stamford, CT
tbrucato@rbmilestone.com
About Cielo Waste Solutions Corp.
Cielo Waste Solutions Corp. is a publicly traded company with its shares listed to trade on the Canadian Securities Exchange ("CSE") under the symbol "CMC", as well as OTC Markets Group, on the OTCQB, under the symbol "CWSFF". Cielo is a waste to renewable energy company with a game changing technology engineered to help solve the world's garbage crisis. Cielo's technology transforms landfill garbage into renewable high-grade diesel and kerosene (aviation jet fuel). Cielo's proven and patent-pending technology is currently being deployed in the Company's Aldersyde, Alberta Renewable Diesel Facility, where wood waste is currently being converted into renewable fuels.
Cielo is headquartered in Alberta, Canada with plans to build and operate green facilities across North America as well as globally.
Cielo has already begun expanding its footprint by signing multiple Memorandums of Understanding pursuant to which third parties are in negotiation with Cielo to build, at no cost to Cielo, Joint Venture Renewable Diesel Facilities in Grande Prairie, Calgary, Medicine Hat and Lethbridge, Alberta as well as in Nova Scotia. Each JV Facility is projected to cost approximately $50 million to build, commission and place on production. Cielo will be the general contractor and operator of all the proposed JV Facilities. The feedstock that will be used in the Company's green facilities is the world's most available and inexpensive feedstock - garbage; including household, commercial/ construction/demolition garbage, used tires, railway ties and telephone poles as well as all types of plastic that currently cannot be recycled.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Cielo is making forward looking statements related to the completion of operation of the Aldersyde Refinery and the potential sale of its desulfurized product as well as the acquisition of approval from the AEP of amendments to its permits and the ability to accept and process alternate feedstocks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise. The CSE and the OTCQB have not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
SOURCE: Cielo Waste Solutions Corp.
View source version on accesswire.com:
https://www.accesswire.com/581862/Cielo-Solicits-Waste-Feedstock-for-Nova-Scotia-Renewable-Fuel-Facility-and-Provides-Operations-Update
