Ecolomondo Corporation has completed the purchase of the site to build its latest Thermal Decomposition ("TDP") turnkey facility to be built on Tessier street in the Town of Hawkesbury, Ontario, Canada.
Further to an Agreement of Purchase and Sale completed with the Town of Hawkesbury on April 19, 2018, and further to the satisfactory completion of all due diligence conditions, the parties successfully closed the transaction on July 11, 2018. The purchase price was $400,000, including a contribution of $315,000 by Ecolomondo to build an extension of Tessier street.
Site work is to begin immediately, including deforestation and geotechnical reports required for municipal and environmental permit applications.
This new TDP facility is expected to be built on approximately 13.4 acres and to be housed in a building of approximately 50,000 sq.ft. This facility will be equipped with the latest generation technology and is expected to have the capacity to process approximately 13,000 tons of end-of-life tyres per year. It is expected to recover 5,000 tons of carbon black, 6,5 million litres of oil, 1,200 tons of process gas and over 1,600 tons of steel per year.
Once commissioned, this facility will be used as a showpiece to bring visibility and to garner global attention to the Company's technology.
To spearhead construction of this facility, Ecolomondo has concluded an EPCM (Engineering, Procurement, Construction, Management) service agreement with Ultragen, a prominent engineering company highly experienced in the areas of waste processing and petrochemicals. Ecolomondo expects to begin construction by the autumn of 2018 and to achieve final completion between the second and third quarters of 2019.