Business
Ecolomondo Releases 2024 Annual Results
(TheNewswire) Montreal, QC – TheNewswire - May 5, 2025 -- Ecolomondo Cor...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Releases 2024 Annual Results\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\n\n\n\n\n Montreal, QC –\n \n\n TheNewswire\n-\n \n\n May 5, 2025 --\n \n\n Ecolomondo Corporation\n \n\n (TSXV: ECM) (OTCQB: ECLMF) (the “\n \n\n Company\n \n\n ” or\n“\n \n\n Ecolomondo\n \n\n ”), a leading Canadian innovator in sustainable scrap tire\nrecycling technology, announces that it has released its audited\nconsolidated financial statements and notes thereto and its related\nmanagement discussion and analysis (“\n \n\n MD&A\n \n\n ”) as of\nand for the year ended December 31, 2024 (the “\n \n\n Annual Financial Statements\n \n\n ”). The documents are available on SEDAR at\n \n\n\n www.sedar.com\n \n\n\n\n\n During the fiscal year ended December 31, 2024, the\nCompany made considerable progress in production efficiency, ramp-up\nand commercialization at its TDP facility in Hawkesbury (Ontario),\nfirst of its kind that processes end-of-life tires to produce\nre-usable resources.\n \n\n\n\n During the fiscal year ended December 31, 2024, the\nCompany:\n \n\n\n\n\n\n Performed almost 100 TDP batches at full capacity of\n15,000 lbs each.\n \n\n\n\n\n\n Improved efficiency of the shredding and of the thermal\nprocessing lines.\n \n\n\n\n\n\n Received delivery of the new milling line in early\nJanuary 2025 (commissioning is currently ongoing and commercial\nproduction is expected to begin by the end of May 2025).\n \n\n\n\n\n\n Executed a Shares-For-Debt agreement with a company\ncontrolled by the Company’s controlling shareholder to convert\nprevious loans made to the Company totaling $3,498,853.\n \n\n\n\n\n\n Signed an Amending Agreement to the Restructured Loan\nwith Export Development Canada (\n \n\n EDC\n \n\n ”) for interest and capital\npostponements.\n \n\n\n\n\n\n Concluded a loan of $3 million from EDC.\n \n\n\n\n\n\n Negotiated a $2 million loan with the EDC which was\ndisbursed in the first quarter of 2025.\n \n\n\n\n\n\n Closed a non-brokered private placement for gross\nproceeds of C$506,660.\n \n\n\n\n\n\n Highlights of the audited Consolidated Annual Financial\nStatements are:\n \n\n\n\n\n\n The company had revenues of $612,284 compared to\n$196,727 for the fiscal year ended December 31, 2023, a...