Cielo To Host Webinar On Thursday, November 7, at 2 PM EST
VANCOUVER, BC / ACCESSWIRE / October 28, 2019 / Cielo Waste Solutions Corp. ("Cielo" or the "Company") (CSE:CMC) is pleased to provide an update on the commissioning of the Company's first waste-to-renewable fuel refinery ("Refinery") located in Aldersyde, Alberta approximately 25 kilometers south of Calgary.
Over the past month, design modifications were implemented, and additional instrumentation purchased and installed in the Refinery so as to provide for remote monitoring as well as more accurate measurement of higher than contemplated outputs of renewable fuels. Over the past 6 days, Cielo has ramped up production of distillate slowly from approximately 200 liters per hour to approximately 400 liters per hour. Upon receipt of pending final Alberta Environment and Parks ("AEP") approvals, and once the Refinery has produced approximately 120,000 liters of distillate, the Refinery will use the distillate to produce renewable naphtha and renewable diesel fuel concurrently on a continuous-flow basis. Over the past approximately 100 days, management believes the modifications to the Refinery have lowered the cost of production, lowered Cielo's carbon footprint and the contemplated output has been significantly increased. Based on the modifications to the Refinery that have been implemented, Cielo is projecting that the cost to produce renewable diesel will be between $0.45 and $0.75 a liter. In May of this year, Cielo announced an initial sale of high sulfur renewable diesel at $1.00 per liter. Management is confident that when the sulfur is removed from the renewable diesel, Cielo will receive a premium price of between $1.55 and $1.80 per liter for its high grade, low sulfur renewable diesel.
The Company continues to make progress with respect to selecting the optimal desulfurization process. Cielo is working towards making a final decision on the technology provider as quickly as possible.
As announced in its press released on September 30, 2019, Cielo is currently waiting for AEP approval to use clam shell and PET (Polyethylene terephthalate) plastics as a feedstock. The Company continues to be in regular communication with AEP.
Don Allan, President & CEO of Cielo, stated, "While it has been less than a month since our last update, there have been significant advancements. We are excited about the enhancements that we have made to our production process, which have resulted in a significant increase in our production rates and a streamlining of our operations, while at the same time reducing our carbon footprint. Cielo continues to garner attention from banking institutions, government organizations and large industry players. We remain focused on generating revenues in the near future from our green Refinery and growing shareholder value."
Cielo to Host Webinar
On Thursday, November 7, 2019 at 2 PM EST (Noon MST), Cielo's President & CEO, Don Allan, will be reviewing the Company's Corporate Presentation, which is available on the Company's website. Mr. Allan will be providing an in-depth overview of the Company, its current operations and upcoming milestones. Management will be available to answer questions following the presentation on the webinar platform. To ask a question, you will need to be logged into the GoToWebinar platform or by emailing your question(s) beforehand to [email protected].
Date: Thursday, November 7
Time: 2 PM EST / Noon MST)
Corporate Presentation - October 2019: http://bit.ly/2By5nQh
Join Cielo shareholders on 8020 Connect: http://connects.digital/cielo1
On behalf of the Board of Directors of the Company.
Cielo Waste Solutions Corp.
Don Allan, President/CEO/Director
Don Allan, President/CEO/Director
Cielo Waste Solutions Corp.
1 403 348-2972
Trevor Brucato, Managing Director
RB Milestone Group, LLC
New York, NY & Stamford CT
About Cielo Waste Solutions Corp.
Cielo Waste Solutions Corp. is a publicly traded company with its shares listed to trade on the Canadian Securities Exchange ("CSE") under the symbol "CMC". Cielo is a waste to renewable energy company with a game changing technology engineered to help solve the world's garbage crisis. Cielo's technology transforms landfill garbage into renewable diesel and naphtha fuels. Cielo's proven and patent-pending technology is currently being deployed in the Company's Aldersyde, Alberta green refinery where wood waste is being converted into renewable fuels.
Cielo's operations are headquartered in Alberta, Canada with plans to build and operate green refineries across North America and globally.
Cielo has already begun expanding its footprint by signing multiple Memorandums of Understanding pursuant to which third parties are in negotiation with Cielo to build, at no cost to Cielo, Joint Venture Refineries in Grande Prairie, Calgary, Medicine Hat, Brooks and Lethbridge, Alberta. Each JV Refinery is projected to cost approximately $25M +/- to build, commission and place on production. Cielo will be the general contractor and operator of all of the proposed JV Refineries. The feedstock that will be used in the Company's green refineries is the world's most available and inexpensive feedstock - garbage; including household, commercial/ construction/demolition garbage, used tires, railway ties, as well as all types of plastic that currently cannot be recycled.
Cautionary Note Regarding Forward-looking Statements
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Cielo is making forward looking statements related to the completion and results of the construction and commissioning of the Refinery, in particular with respect to current requirement improvements and the desulfurization process and including the ability to receive AEP approvals, as well as projections about future costs and revenues. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release.
SOURCE: Cielo Waste Solutions Corp.