20:44:15 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



Cielo Waste Solutions Corp
Symbol CMC
Shares Issued 175,533,013
Close 2019-04-17 C$ 0.06
Market Cap C$ 10,531,981
Recent Sedar Documents

Cielo Waste sells 5,000 litres of renewable diesel

2019-04-18 10:25 ET - News Release

Mr. Don Allan reports

CIELO ACHIEVES MILESTONE WITH FIRST SALE OF RENEWABLE DIESEL

Prior to adding the desulphurization unit on which Cielo Waste Solutions Corp. is currently working, the company has achieved an important milestone by selling the first 5,000 litres of high-grade renewable diesel to its first customer at $1 per litre. This sale confirms that, even before desulphurization occurs, there is a potential market for Cielo's renewable fuels, which are being produced by converting wood waste into a saleable renewable diesel product using Cielo's proprietary process. Once the desulphurization equipment is installed, Cielo anticipates being able to sell the company's high-grade renewable fuel for much higher prices per litre into the mandated renewable fuel market in Canada. Cielo's first client is a servicing company that will be utilizing the renewable diesel as "off highway diesel" (in example, for use in machines such as generators and gravel crushers). Cielo has been advised by the customer that the initial purchase is for a small batch to test on the customer's equipment, after which it intends to purchase significantly higher volumes in the future if the diesel performs as expected.

Operations update

Cielo is now well into completing the modifications for the additional electrical heater system that is required to allow the company's refinery in Aldersyde, Alta., to operate on a continuous flow basis, as previously announced, as well as some other improvements to the process at the refinery. Most of the material is at fabrication shops or has been ordered and awaiting delivery. Currently, Cielo continues to produce fuel from distillate, but management anticipates shutting down the refinery around the start of May in order to implement the new equipment. Additional updates will be provided as progress continues.

Don Allan, president and chief executive officer of Cielo, stated: "We are very pleased to have made our first sale of renewable diesel. This further validates that there is a demand for our technology. Although our business strategy is to sell a low-sulphur, renewable diesel into the mandated marketplace, almost all of which currently has to be imported into Canada, we are more than pleased that we have achieved our first sale even though it contains sulphur. We are excited to work with our first client as they are seeking ways for their company to be greener."

About Cielo Waste Solutions Corp.

Cielo holds the exclusive licence for the global rights to a transformational, patent-pending technology engineered to convert garbage-derived feedstocks to high-grade renewable diesel at a significantly lower cost than biofuel companies. With landfills being one of the world's leading contributors to greenhouse gas emissions and being projected to double in size over the next seven 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.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.