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Ecolomondo Reports 2018 Annual Results
Ecolomondo Reports 2018 Annual Results Canada NewsWire MONTREAL, April 24, 2019 ...
About this update from Ecolomondo Corporation
[{"type":"text","content":"\n\n\n\nEcolomondo Reports 2018 Annual Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, April 24, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n MONTREAL, April 24, 2019 /CNW Telbec/ - Ecolomondo Corporation (TSXV: ECM) (the \"Company\" or \"Ecolomondo\") releases its audited consolidated financial statements and notes hereto and its related management discussion & analysis as of and for the year ended December 31, 2018 (the \"Annual Financial Statements\"). \nDuring the fiscal year ended December 31, 2018, the Company has made considerable progress in its technology, especially in the areas of process optimization and efficiency. During this period, technological advancements were achieved by our technical teams that allow reactor payloads to increase from 12,000 lbs to 14,000 lbs per batch, which should bring increased revenues of approximately 16.5% to the Company's operating TDP turnkey facilities. \nThe Company was able to make substantial progress towards securing offtake agreements and market acceptance for its end-products, especially for its recycled carbon black, the end-product with the highest commercial value. During this period, the Company was able to sell its recycled carbon black produced in its Contrecoeur plant (now marketed under the trade name \"Mondo Black\"), at pricing higher than projected.\nDuring this period, the Company also made considerable progress in its negotiations with Export Development Canada (\"EDC\") to secure project financing to build its Hawkesbury TDP turnkey facility and as of December 31, 2018 was very close to reaching an agreement. It is to be noted that as a post year-end event, on April 3, 2019, the Company announced a loan agreement with EDC of $32.1 million for project financing for the construction of the Hawkesbury facility.\nThe partial commercialization of the Contrecoeur facility and the construction of the Hawkesbury TDP facility are important steps in the Company's growth strategy ...