Montreal, April 29, 2021 – TheNewswire - Ecolomondo Corporation (TSX-V: ECM) (the "Company" or “Ecolomondo”) releases its audited consolidated financial statements and notes thereto and its related management discussion & analysis as of and for the year ended December 31, 2020 (the “Annual Financial Statements”). These documents are available on SEDAR at www.sedar.com.

During the fiscal year ended December 31, 2020, the Company continued to aggressively market its Thermal Decomposition Process (“TDP”) turnkey facilities and to complete the construction of its new Hawkesbury TDP turnkey facility (the “Project”). As the Hawkesbury facility comes on line, management believes that the commercial operation of the Hawkesbury facility should help position the Company to become an industry leader in thermal processing of end-of-life tires.

The Company also began mobilizing for its global expansion. It is currently working to put into place global sales teams to market its TDP turnkey facilities and to sell the by-products produced by them. The Company is currently in talks to close on the sale of numerous TDP turnkey facilities in Canada and the continental USA.

The Company reports that during the period, construction of the Hawkesbury Project continued to progress at a rapid pace and is currently nearing completion. Mechanical assembly and installation are scheduled to be completed by mid-June 2021, with commissioning to begin by the end of June 2021. Once built, the plant will be equipped with the latest technology and is designed to ensure efficient handling of large quantities of feedstock (scrap tires) and end-products: oil, steel, fiber, recycled carbon black and process gas.

On April 3, 2019, the Company and Export Development Canada (“EDC”) announced a loan agreement of $32.1 million in project financing for the construction of the Hawkesbury facility. As of December 31, 2020, capital expenditures for the Hawkesbury facility totalled $24,452,409 and were essentially for site purchase, engineering, site preparation, building construction, labor, permitting, equipment purchases and installation.

“As construction was beginning, the Project was immediately faced with the challenges brought about by a never-ending global pandemic. Our teams worked tirelessly to mitigate the negative impact to the Project caused by increased costs and delivery delays. In spite of these setbacks, the consequential toll only marginally impacted the Project schedule and overall costs”, says Eliot Sorella, President & CEO of Ecolomondo.

Once built, the Hawkesbury TDP facility will be comprised of four processing departments (shredding, thermal, recovered carbon black, oil fractionation) and, once fully operational, this facility is expected to process a minimum of 14,000 tons of tire waste per year and produce 5,300 tons of recovered carbon black, 42,700 barrels of oil, 1,800 tons of steel and 1,600 tons of process gas.

Please visit the Company’s website at www.ecolomondo.com for updates on the Company’s Hawkesbury facility.

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