Ecolomondo Reports 2018 Third Quarter Results

Ecolomondo (TSXV:ECM) announced its unaudited interim consolidated financial statements for the three months period ended September 30, 2018 where it highlighted its efforts in completing the conversion of its Contrecoeur facility to turn it into partially commercialised TDP facility.

As quoted in the press release:

The Company achieved a major milestone and completed the installation and commissioning of a post-process treatment line to refine the recycled carbon black that it produces at its Contrecoeur facility. This facility now has the equipment to produce a commercial grade recycled carbon black, which was easily approved and purchased by customers that are large consumers of carbon black, a major step towards its commercialization of the Contrecoeur facility. During this period, the Contrecoeur facility operated on a limited commercial basis and the Company expects to complete its partial commercialization in the fourth quarter of 2018. Partial commercialization is considered to be achieved when the Contrecoeur facility processes three batches of seven tons per week.

During this period, the joint venture entity, Ecolomondo Environmental (Hawkesbury) Inc., completed the purchase of the land for the TDP turnkey facility and the city of Hawkesbury began constructing the access road on Tessier street. The Company confirms that the EPCM contractor, Ultragen, mandated to build the Hawkesbury TDP turnkey facility, was also actively working and made substantial progress in the areas of engineering, procurement and construction design. Construction of the Hawkesbury facility is expected to begin early in 2019 and to be completed within 12 months from the start date. The Company was also actively negotiating its debt financing to build the facility with a major commercial lender.

The partial commercialization of the Contrecoeur facility and the construction of the Hawkesbury TDP facility are important steps in the Company’s growth strategy because they will be used to showcase the Company’s TDP technology to potential customers.

Click here for the full text release.