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Ecolomondo Receives Volume Cap for an US$80 Million Bond from the State of Texas
(TheNewswire) Montreal, QC – TheNewswire - February 05, 2024 -- Ecolomon...
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[{"type":"text","content":"Ecolomondo Receives Volume Cap for an US$80 Million Bond from the State of Texas\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Montreal, QC –\n \n \n TheNewswire\n-\n \n \n February 05, 2024 --\n \n \n Ecolomondo Corporation\n \n \n (TSXV:ECM) (OTC:ECLMF) (the “\n \n \n Company\n \n \n ” or\n“\n \n \n Ecolomondo\n \n \n ”), a cleantech company that designs, builds, operates and\ncommercializes Thermal Decomposition turnkey plants using its\nproprietary Thermal Decomposition Process (“\n \n \n TDP\n \n \n ”) recycling\ntechnology,\n \n \n announces it has received a volume\ncap for an US$80 million bond from the State of Texas.\n \n \n \n \n The Texas Bond Review Board issued a Certificate of\nReservation, which states “The amount of US$80 million is hereby\nreserved for Shamrock Economic Development Corporation\n(“\n \n \n Shamrock EDC\n \n \n ”, the Issuer) to be used for an Exempt Facility Bond\n(Ecolomondo Project)”.\n \n \n \n \n To promote the sale of the Bond and prepare formal\ndocumentation, the Company has secured the services of Ziegler\nInvestment Banking (investment banker), Raftelis Financial Consultants\nInc. (financial consultant), Butler Snow LLP (law firm representing\nthe Shamrock EDC), and Parker Poe LLP (law firm representing the\nCompany).\n \n \n \n \n The Company plans to build and operate a six-reactor\nturnkey TDP facility in Shamrock, Texas. This will be the Company’s\nfirst US-based waste-to-resources TDP plant capable of processing and\nrecycling end-of-life tires (“\n \n \n ELT\n \n \n ”) into saleable recycled commercial\nresources for re-use.\n \n \n The facility construction\nis expected to be officially launched by the end of 202\n \n \n 4\n \n \n with completion expected during 2026.\nAt this time, projected cost to build the Shamrock facility is\nprojected to total approximately US $93 million, however with the\nexperience garnered building the Hawkesbury facility, the Company is\nconfident it can lower the cost to build.\n \n \n \n \n The capital portion of the project is expected to come\nfrom a combination of a capital raise,\n \n \n joint\nventure partners, fixed assets and other considerations.\n \n \n \n \n ...