Cielo Provides Positive Update on its Production Levels, Signs a Research Agreement with the University of Calgary and will Host a Live Webinar on Thursday, October 22nd
Vancouver, British Columbia, Canada - TheNewswire - October 14, 2020 - (CSE:CMC), (CNSX:CMC.CN), (OTC:CWSFF) Cielo Waste Solutions Corp. ("Cielo" or the "Company") is pleased to provide an update on its production levels at its facility in Aldersyde, Alberta ("Facility"). While Cielo's initial goal was to start the Facility slowly after the latest improvements, with expectations between 200 to 500 liters per hour, the Facility produced 800 liters per hour of distillate. After approximately four hours of continuous operation, Cielo scaled back production to allow its engineers the opportunity to analyze any maintenance or functional concerns at that level. Cielo plans to be back up to 800 liters per hour of continuous flow as early as next week following minor tweaks by the engineers and 1,000 liters per hour shortly thereafter. Additional updates on the production volumes will be discussed in the live webinar on Thursday, October 22nd at 11 am ET (webinar details provided below). With the Facility producing continuously, to management's knowledge, Cielo is now the first company to convert multiple waste streams (garbage) into renewable diesel, naphtha and kerosene (jet & marine fuels).
Management's view is that the achievement of this milestone is well timed and that the amount of garbage and plastics produced daily combined with a proposed Canadian ban of single use plastics should put Cielo's proven technology converting these otherwise harmful plastics to renewable high-grade fuels right into the world spotlight.
Don Allan, President and CEO of Cielo, stated "Plastic does not need to be a world crisis. We only need to find a way to dispose of it safely. We've observed that recyclers have struggled to deal with the product that Asia has stopped receiving. Cielo intends to become a solution for this unwanted plastic waste by converting all types of plastics into environmentally friendly high-grade renewable fuels. We believe this will allow the Petro Chemical industry to continue to make amazing, convenient products, while having a safe, clean way of recycling this waste into high grade fuels. Cielo sees this as a truly win-win situation and is proud to introduce this game changing technology and share it with the world. It has been a long road to get to this point, almost 16 years, so we are very proud of the hard work of our team. We also want to thank Cielo's shareholders for their patience and support over the years and look forward to providing further updates on our upcoming operational milestones."
Raphael Bohlmann, President of Renewable U Energy Inc. (a company with which Cielo intends to enter into joint venture agreements (the "JV Agreements") for the building of additional facilities, as previously announced), stated "We are so happy for Don and the team at Cielo for hitting this milestone. We always believed this was an innovative technology that would create a better world for us and our children. We believe Cielo's technology can contribute significantly to reducing GHG's, reducing land fill waste, and garbage, all the while providing a clean, safe renewable fuel product. This announcement could not come at a better time. Alberta, Canada and the rest of the world need a solution to these problems. They also need the jobs, revenue and tax base inserted into the economy, which we believe will be created once Cielo begins engineering, construction, production and expansions."
Update on Desulfurization and Announcement of Research Agreement
Additionally, Cielo has been working with the University of Calgary on the desulfurization of the diesel fuel. Cielo has signed a Research Agreement with the University's Department of Chemical and Petroleum Engineering to complete the commercial design of the desulfurization technology required to remove the sulfur from the renewable highway grade diesel to meet the national specifications. The goal for the agreement is to have a completed commercial solution in or around late November, 2020.
Update on Joint Venture Facilities
Over the past approximately seven months, the Facility has undergone significant upgrades to increase productivity and quality of renewable fuels. These upgrades have proven to be effective and management will continue to monitor how they impact the Facility. As the Facility was intended to be Cielo's test facility, Cielo will continue to test various feedstocks upon approval from Alberta Environment and Parks and to streamline the Facility to make it even more efficient. Following these successful upgrades, management has the confidence and proof to move forward with the engineering of the new facilities that will be built pursuant to the JV Agreements, which are intended to be larger, produce more fuel and use greater amounts of feedstock (garbage).
Cielo will provide additional updates as they become available.
Cielo Waste Solutions to Host Live Investor Webinar on Thursday, October 22nd, at 11 AM ET (9 AM MST)
Cielo's President & CEO, Don Allan, will be hosting a live investor webinar on Thursday, October 22nd to provide an overview of the Company, its current operations, its forthcoming JV partnerships and upcoming milestones. You can register for the webinar below:
Date: Thursday, October 22nd, 2020
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 RBMG(RBMilestone Group, LLC)
email@example.com 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, naphtha and kerosene (aviation jet and marine fuels). CIELO's proven and patented 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 a "JV Facility", collectively the "JV Facilities"). 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 continued operations of the Facility, the ability of the Company and Facility to continue to produce at 800 liters per hour and the timing for this, the anticipated impact of the Cielo's technology on waste and plastics issues, the creation of jobs arising from Cielo's technology and facilities, entry into the JV Agreements and the building of additional facilities pursuant to the JV Agreements, including the ability to build larger facilities that use more waste and produce more fuels, and use of the Facility as a test facility and ability to test additional waste streams. 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.