Business
Ecolomondo Agrees to a Multi-Year Tire Feedstock Supply Contract with Recyc-Quebec
(TheNewswire) Agreement to Provide 30,000+ Tons of Tire Feedstock and...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Agrees to a Multi-Year Tire Feedstock Supply Contract with Recyc-Quebec \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n Agreement to\nProvide 30,000+ Tons of Tire Feedstock and $3.4 Million Tipping &\nHandling Revenue to Hawkesbury Recycling Facility as it Preps for\nLaunch\n \n \n \n \n Montreal, QC -\n \n \n TheNewswire -\n \n \n October 12, 202\n \n \n 1\n \n \n -\n \n \n Ecolomondo Corporation\n \n \n (TSXV:ECM)\n \n \n (OTC:ECLMF) (the “\n \n \n Company\n \n \n ” or “\n \n \n Ecolomondo\n \n \n ”), a\ncleantech company commercializing its proprietary Thermal\nDecomposition Process (“\n \n \n TDP\n \n \n ”) recycling\n \n \n technology and turnkey TDP facilities used to transform\ntires,\n \n \n plastics and other hydrocarbon waste\nstreams into saleable renewable commodities,\n \n \n is\npleased to announce it has entered into a long-term supply agreement\n(the “\n \n \n Agreement\n \n \n ”) with Recyc-Quebec to have over 31,000 short tons of\nend-of-life-tire (ELT) feedstock (approximately 80% passenger tires /\n20% truck tires) delivered to the Company's flagship Hawkesbury TDP\nrecycling facility.\n \n \n \n \n The supply Agreement, subject to an accepted\nenvironmental liability insurance policy by Recyc-Quebec, is set to\nbegin in November 2021 and is expected to remain in effect until\nDecember 31, 2023. The Company estimates total revenue from tipping\nfees and related handling charges to be approximately $3,420,000. The\nsubsequent sale of output materials such as recycled carbon black\n(rCB), pyrolysis oil, syngas and #2 busheling steel will represent\nadditional sources of facility revenue, as would the earning of\npotential carbon credits.\n \n \n \n \n “The ability to source and handle large waste volumes\nefficiently is a huge competitive advantage compared to many other\nrecycling technologies,” said\n \n \n Eliot Sorella,\nChairman and Chief Executive Officer of Ecolomondo. “\n \n \n T\n \n \n he current prices and supply chain\ndisruptions for oil, virgin carbon black and steel are setting the\nstage for even higher prices for recycled products, further validating\nour business model for TDP turnkey facilities like Hawkesbury. Higher\nrevenue streams will be transformative -- not only for Ecolomondo but\n...