Business
Ecolomondo Reports on The Progress of Its New Hawkesbury TDP Turnkey Facility
(TheNewswire) Montreal – TheNewswire - April 6...
About this update from Ecolomondo Corporation
[{"type":"text","content":"Ecolomondo Reports on The Progress of Its New Hawkesbury TDP Turnkey Facility\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 Montreal –\n \n \n TheNewswire\n-\n \n \n April 6, 2021\n \n \n Ecolomondo Corporation (\n \n \n TSXV:ECM\n \n \n ) (the “Company” or\n“Ecolomondo\n \n \n ”) reports on the progress of\nconstruction of its new, first of its kind, Thermal Decomposition\n(“\n \n \n TDP\n \n \n ”) turnkey facility that is being built in Hawkesbury,\nOntario.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n Construction continues to progress at a very rapid pace\nand is nearing completion. Mechanical assembly and installation are\nscheduled to be completed by the end of May 2021, with commissioning\nto begin in June 2021. Once built, the plant will be equipped with the\nlatest technology and is designed to ensure efficient handling of\nlarge quantities of feedstock (scrap tires) and end-products: oil,\nsteel, fiber, recycled carbon black and process gas). The building is\n46,200 sq.ft and has an impressive indoor clearance of 28 feet. It is\nstate-of-the-art and houses 3 main production departments, tire\nshredding, thermal decomposition and recycled carbon black\nrefining.\n \n \n \n \n “Every time I visit the Hawkesbury\nsite, it is gratifying to see its progress. It is exciting to see the\nactual result and to know that the production kick-off date will be\nhappen very soon!”,\n \n \n says Eliot Sorella,\nChairman & CEO of the Company.\n \n \n \n \n In spite of the delays to the start-up date mostly\ncaused by the pandemic, the project cost and cash flows remain mostly\nwithin the guidelines of the loan covenants with Export Development\nCanada (\n \n \n EDC\n \n \n ).\n \n \n \n \n Total estimated budget for the Hawkesbury TDP turnkey\nfacility stands at approximately $37.6 million, of which approximately\n$32.1 million comes from the loan facility from EDC and the balance of\napproximately $5.5 million from the Company, which the Company has\nalready contributed.\n \n \n \n \n As of March 31, 2021, total drawdowns from the loan\nfacility with EDC totaled $25.8 million and as of April 30, 2021,\ncapital expenditures for the Hawkesbury facility are expected to be\napproximately $31.3 million, includin...