Vancouver, British Columbia (FSCwire) - Cielo Waste Solutions Corp. ("Cielo" or the "Company") (CSE:CMC) is pleased to announce that, late in the day on Friday June 8th, 2018, the Company received its permit from the Ministry of Environment and Parks (Alberta) (the “Ministry”) pursuant to the Environmental Protection and Enhancement Act (“EPEA Permit”) that will allow for the operation of its first commercial refinery in Aldersyde, Alberta.
Don Allan, President and CEO of Cielo, stated “Receipt of the EPEA Permit is a momentous milestone which allows us to now proceed with commissioning and placing our transformational high-grade renewable diesel refinery on production. It is anticipated that the regulatory permitting approval process will be significantly shortened with each new site that is applied for, especially within the Province of Alberta.. We are now more confident than ever that we will have our refinery up and running, on a continuous-flow-basis before the end of this month.” Allan further commented “We are looking forward to being able to showcase to the world in the coming weeks and months our technology that utilizes our proprietary processes to convert, on an extremely cost-effective basis, multiple different garbage-derived feedstocks, including all plastics, sorted municipal solid waste (garbage), wood and agriculture waste, tires and virtually any other cellulous waste product into high grade renewable diesel. Our refineries are being engineered to be the greenest refineries on the planet which will benefit generations to come by being able to convert landfills into renewable fuels.”
Cielo’s strategic plan calls for building multiple modular refineries around the world, offsetting landfills and other feedstock supplies. Cielo intends to focus initially on building additional refineries in Alberta to fill the Canadian mandated demand for renewable diesel, almost all of which is currently having to be imported into Canada. In the coming months and years, Cielo’s goal is to replace as much as possible of the imported mandated demand, which management believes to be about 650 million liters a year, with its high grade renewable diesel fuel.
The renewable diesel that is going to be produced at the Company’s Aldersyde refinery is forecast to receive approximately a 25% premium over biodiesel pricing. In addition, as a result of Cielo’s feedstock being waste streams, with in some cases negative acquisition costs, versus biodiesel that uses food feedstocks, Cielo’s management believes that Cielo will not have to rely on government subsidies to be extremely profitable.
It will be higher grade and lower in sulfur and water, allowing year-round supply and longer shelf life. The refinery will initially be using wood waste as its feedstock that is being acquired pursuant to a multi-year feedstock agreement with Mountainview Eco Products. Mark Haldane, President of Mountainview, commented: “We are pleased to have been selected as the initial supplier of feedstock for Cielo’s environmentally friendly Aldersyde refinery. Being able to sell a waste product that is challenging for all North American sawmills and pulp mills to dispose of, makes sense to us both from a business and an environmental standpoint. We continue to be extremely pleased to be a part of Cielo’s strategic plan.”
Input and output numbers will be disclosed once Cielo’s Aldersyde Refinery is up and running on a continuous-flow basis. As a result of multiple engineering enhancements that were implemented during construction of the Company’s continuous-flow refinery at Aldersyde, Cielo’s management is anticipating at this point in time that the output of high grade renewable diesel from the Company’s Phase I refinery will meet and or exceed the originally contemplated output of 350 l/hr of high grade renewable diesel.
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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 holds the exclusive license for the global rights to a transformational, patent-pending, technology engineered to convert garbage-derived feedstocks to renewable diesel, at a significantly lower cost than biofuel companies. With landfills being one of the world’s leading contributors to Green House Gas emissions and being projected to double in size over the next 7 years, Cielo can potentially resolve this crisis, on a cost-effective basis, by converting multiple different garbage-derived feedstocks, including sorted municipal solid waste (garbage), wood and agriculture waste, tires, blue-box waste, all plastics and virtually any other cellulous waste product into high grade renewable diesel.
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, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of its industry. 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.
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Source: Cielo Waste Solutions Corp. (CSE:CMC, FWB:C36)