Cielo Back in Production Following Facility Improvements and Provides Update
Vancouver, British Columbia, Canada – TheNewswire - January 27th, 2021 - (CSE:CMC), (CNSX:CMC.CN), (OTC:CWSFF), Cielo Waste Solutions Corp. ("Cielo" or the "Company") provides an update on operations and financing efforts. The Company would also like to provide a reminder for its live investor webinar on January 28th, 2021 at 11am ET (9am MT). Registration link is provided below.
Aldersyde Facility Update:
Cielo and its contractors have completed the installation of the newly engineered proprietary cooling equipment at its waste-to-renewable fuel facility in Aldersyde, Alberta (“Aldersyde Facility”) and are extremely pleased with the results. The waste process coming out of the reactor tower is at approximately 365 degrees Celsius and is then reduced to less than 20 degrees Celsius in less than 11 minutes. This equipment has eliminated the need for Cielo’s operators to shut down the production of distillate for 6 hours after every 18 hours and will allow Cielo to reach its goal for continuous flow of production.
Cielo is pleased to announce that the Aldersyde Facility is now working with a third-party engineering team to fine tune the temperatures and mass balance in order to achieve the Cielo’s 24,000 litres per day (1,000lph) output goal. The complex process is expected to benefit the Aldersyde Facility and all future facilities, including the previously announced joint venture facilities to be built, with the intention of maximizing quality, output and profit.
Cielo is currently completing another facility upgrade, which is the installation of a submersible heater that will be used to preheat the used motor oil to help keep the reactor at the optimal operating temperature. This upgrade is expected to be completed as early as next week.
The distillate Cielo has in its storage tanks has been used to produce renewable naphtha and diesel, and Cielo has satisfied the volume required for the presale order that was announced on November 23rd, 2020 for 60,000 litres.
Don Allan, President and CEO of Cielo, stated “The latest major modifications have proved to work better then we expected and we’re happy we chose to carefully plan the proper cooling system and other modifications. We believe that we are now ready to show the world we have a complete process that will prove 16 plus years of hard work is ready to pay off. Together with the entire team, we are very excited to see our hard work coming to fruition and we are looking forward to reporting in the near future that we have reached the 1,000 lph or 24,000 litre per day output.”
Cielo has fast tracked the order of catalyst that will be used in the desulphurization process and its engineers have completed the fabrication drawings to build the necessary proprietary equipment. Cielo is now soliciting quotes for all the required equipment and once satisfied with the quotes, will immediately order the equipment for fabrication and installation. Desulfurization is something we always knew we needed to tackle and now that we have solved the cooling issue and several other major facility milestones it is proper timing to use our research and cooperation with the University of Calgary and lower our Sulphur to below highway industry standards and garner top prices for our renewable fuels.
Dunmore Facility Update:
Cielo and Renewable U Medicine Hat Inc. have continued their engineering progress at the planned joint venture facility in Dunmore, Alberta (“Dunmore Facility”). Site drawings have been completed, civil engineering is nearing completion and the rail design has been sent to the Company’s railroad used tie provider for input.
As previously announced, Cielo is actively seeking to raise up to CAD $15 Million by way of one or more non-convertible debt instruments. The proceeds will be used to further upgrade the Aldersyde Facility and double its production capability, as well as to repay Cielo’s current primary secured lender. This debt financing would allow Cielo to focus entirely on getting the Aldersyde Facility running smoothly, producing low sulphur renewable diesel and increasing the output to a capacity of more than 48,000 litres per day or over 16 million litres per year of renewable fuels. The intended result is to advance Cielo into positive cash flow and profitability as well as to validate the commercial scalability of Cielo’s disruptive technology that is engineered to convert multiple different waste streams of garbage into high grade renewable fuels that Cielo believes are in high demand globally. Securing this additional financing is expected to allow Cielo to accomplish certain objects that are estimated to result in increasing profits four-fold while cutting costs of production in half.
As previously announced, Cielo has received multiple term sheets and is in the process of negotiating the terms to select the optimal funding partner(s) for Cielo’s expansion of the Aldersyde Facility.
Cielo Waste Solutions to Host Live Investor Webinar on Thursday, January 28th, at 11 AM ET (9 AM MST)
Cielo’s President & CEO, Don Allan, will be hosting a live investor webinar on Thursday, January 28th, 2021 to provide an overview of the Company, its current operations, its forthcoming joint venture partnerships and upcoming milestones. You can register for the webinar below:
Date: Thursday, January 28th, 2021
Time: 11 AM EST (9 AM MST)
HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand via email at firstname.lastname@example.org.
On behalf of the Board of Directors of the Company,
Cielo Waste Solutions Corp.
Don Allan, President/CEO/Director
Investor Relations (Canada)
Investor Relations (USA)
Lionel Robins (780) 832-6810
RB Milestone Group, LL
Trevor Brucato, Managing Director
New York, NY & Stamford, CT
Raphael Bohlmann (780) 876-7786
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 Facility, Alberta, 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 Term Sheets, including the likelihood or success of completing a resulting debt financing, and the indirect results thereof, including increased profits and reduced costs; and the completion and further progress of the Aldersyde Facility, including the implementation of additional equipment and other upgrades and the desulfurization process; . 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.