Cielo Announces Issuance of U.S. Patent to Licensor
Vancouver, British Columbia, Canada - TheNewswire - July 30, 2020 - (CSE:CMC), (CNSX:CMC.CN), (OTC:CWSFF) Cielo Waste Solutions Corp. ("CIELO" or the "Company") is pleased to announce that the United States Patent and Trademark Office has issued a U. S. Patent to 1888711 Alberta Inc. ("1888"), a private Alberta corporation from whom Cielo holds a worldwide exclusive licence (the "Licence") to its waste to renewable diesel facility technology (the "Technology).Background:
On June 15, 2016, Cielo announced that it had signed a World Exclusive License Agreement with 1888 for the further development of the Technology, which was restated and amended on November 1, 2017 (the "Licence Agreement"). Cielo obtained an exclusive and perpetual licence to commercialize the Technology, intended to be done through the building of facilities (the "Facilities") for the production of renewable diesel as well as sublicensing the Technology to third parties to build Facilities.
The terms of the Licence Agreement provide for the payment of royalties and commissions to 1888 from the commercialization of the Technology as well as the right of first refusal of Cielo to purchase the Technology, including all intellectual property and patents relating to the Technology.
Certain directors and officers of Cielo are also directors or officers of 1888.
Don Allan, President and CEO of Cielo, stated "Things are very exciting for Cielo right now. With the commissioning of the plant set to begin shortly, following the completion of the recent upgrades, and now the awarding of the US patent to our exclusive licensor, we believe we are another step closer to showing the world our game changing technology for the waste industry."
On behalf of the Board of Directors of the Company,
Cielo Waste Solutions Corp.
Don Allan, President/CEO/Director
RB Milestone Group, LLC
Trevor Brucato, Managing Director
New York, NY & Stamford, CT
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 fuel 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 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.
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, commissioning and operation of the Aldersyde Facility. 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 News Release.