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Cielo Receives Progress Report from Renewable U Energy Regarding Joint Venture Facilities
(via TheNewswire) Vancouver, British Columbia, Canada - TheNewswire - May ...
About this update from Cielo Waste Solutions Corp.
[{"type":"text","content":"Cielo Receives Progress Report from Renewable U Energy Regarding Joint Venture Facilities(via TheNewswire)\n \n \nVancouver, British Columbia, Canada - TheNewswire - May 25, 2020 - (CSE:CMC), (CNSX:CMC.CN), (OTC:CWSFF) Cielo Waste Solutions Corp. (\"CIELO\" / \"Company\") announces receipt of a Progress Report (\"Report\") from Renewable U Energy Inc. and its 4 subsidiary companies (collectively the \"Renewable U JV Cos\"). As previously announced, CIELO had entered into Memorandums of Understanding with the respective Renewable U JV Cos (the \"MOUs\"), to be followed by joint venture agreements (the \"JV Agreements\"), which will provide the framework to build and operate 4,000 liter per hour facilities. A fifth similar Memorandum Of Understanding was entered into with Seymour Capital Inc. for a facility to be built in Calgary, Alberta (collectively with \"JV Facilities\"). The Report includes advancements in sourcing long-term supplies of various waste feedstocks, site selection and funding initiatives to build and commission 4 waste-to-renewable fuel facilities with CIELO.\n\n \n \nCIELO is projecting to convert approximately 330,000 tonnes of garbage into approximately 164,000,000 liters of renewable fuels annually from the 5 JV Facilities. Each JV Facility is contemplated to create 30 full-time jobs as well as 260 jobs in construction and fabrication or approximately 600,000-man hours of work, contributing approximately $80,000,000 during start-up and $14,000,000 in federal and provincial taxes per year. \n\n \n \nHighlights from the Report are as follows:\n\n \n \nTerritory I - Grande Prairie, AB - Renewable U Grande Prairie Inc. (\"RUGP\") has narrowed its land search to 3 sites and is now determining which of the sites would be most suitable for the JV Facility. RUGP is also in early discussions with potential feedstock providers.\n\n\n \nTerritory II - Medicine Hat, AB - Renewable U Medicine Hat Inc. (\"RUMH\") has appointed Ryan Jackson as Chief Operating Officer (\"C.O.O.\"). Mr. Jackson lives in Medicine Hat and is working closely with CIELO's management to advance the building of the JV Facility. The 80 acres of land (the \"Land\") that RUMH intends to acquire is strategically located between CP Rail's main rail line and the Trans-Canada Highway. RUMH had received notice on May 5th, 2020, that the Cypress County Cou...