VANCOUVER BC / ACCESSWIRE / November 28, 2019 / Cielo Waste Solutions Corp. (CSE:CMC) ("Cielo" or the "Company") is pleased to announce that the Company has entered into a Supply of Services Agreement with Canadian Pacific (CP) that was approved on November 27, 2019 ("Agreement"). The Agreement is effective as of October 31, 2019 and will expire on October 31, 2025.
The Agreement entitles Cielo to receive scrap rail ties from CP to use as feedstock in the production of high-grade renewable fuels, in one of its future follow-on waste to energy green refineries. Over the past approximately 18 months, Cielo has worked with CP to obtain a number of scrap rail ties for due diligence testing and has consistently achieved positive preliminary results.
"CP's long-term commitment to supply Cielo with a minimum of 2,500,000 ties, over a five-year period, will allow us to move forward with the site selection to build our next green refinery, on a joint venture basis, with one of Renewable U Energy Inc.'s subsidiary companies. Based on the Agreement that we now have in place with CP, we have pivoted and are engineering this follow-on refinery to produce approximately 4,000 liters an hour of renewable naphtha, kerosene (aviation jet fuel) and high grade diesel, which is twice the scale of the refinery that we originally had planned on building," said Don Allan, President and CEO of Cielo. "We are excited to be collaborating with CP to showcase to the world how our technology can provide an alternative solution to converting a difficult waste stream into high-grade renewable fuels."
An Alberta-based location for the refinery is in the process of being finalized by the two parties.
Join Cielo shareholders on 8020 Connect: http://connects.digital/cielo1
On behalf of the Board of Directors of the Company.
Cielo Waste Management
Don Allan, President/CEO/Director
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 high-grade diesel, kerosene (aviation jet fuel) 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 currently being converted into renewable fuels.
Cielo is 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 and telephone poles 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 Offering and the use of proceeds thereof. 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.
View source version on accesswire.com:
https://www.accesswire.com/568403/Cielo-Announces-Multi-Year-Feedstock-Supply-of-Services-Agreement-with-Canadian-Pacific
