Mr. Ryan Jackson reports

CIELO CONFIRMS KEY EQUIPMENT ORDER AND ENVIRONMENTAL PERMIT APPLICATION, ADVANCING THE COMPANY'S CARSELAND BIO-SYNDIESEL PROJECT TOWARDS COMMERCIALIZATION AND SHARES FOR DEBT TRANSACTION

Cielo Waste Solutions Corp. has ordered a biomass gasifier, a key piece of equipment required to continue driving its Carseland, Alta., project toward commercialization and has submitted an environmental permit application to Alberta Environment and Protected Areas (AEPA) for the project's construction.

The Carseland Project is Cielo's first commercial by-product-to-fuels facility designed to convert wood by-products into low carbon intensity renewable bio-syndiesel fuel ("Bio-SynDiesel") and Sustainable Aviation Fuel Bio-SynJet ("Bio-SynJet"), which is targeting first commercial production in 2026. Once complete, the Carseland Project is projected to produce eight million liters per year of Bio-SynDiesel and Bio-SynJet, exemplifying Cielo's commitment to changing the fuel, not the vehicle, and creating sustainable fuel that does not rely on food competitive inputs.

Biomass Gasifier Order

Cielo has executed a Limited Notice to Proceed with Expander Technologies Inc., an affiliate of Cielo's strategic partner, Expander Energy Inc., for the design, fabrication and supply of the Gasifier for the Carseland Project.

The innovative patented Gasifier design produces clean, tar-free synthesis gas (syn-gas) from various biogenic inputs, such as wood by-products, including discarded railway ties. The Gasifier integrates with Cielo's licensed Enhanced Biomass to Liquids (EBTL) process, and the high-quality syn-gas is utilized to produce Bio-SynDiesel and Bio-SynJet, with the former featuring an estimated Carbon Intensity (CI) of 32.5gCO2e/MJ. This low carbon-intensive project significantly exceeds Canada's Clean Fuel regulatory requirement for diesel fuel of 79.0 gCO2e/MJ by 2030 and will meet current specifications for RD100 Renewable Diesel fuel that is compatible with today's existing diesel engines.

Expander Technologies Inc. plans to fabricate the Gasifier at its Penticton, BC fabrication centre, and expects that the components could be ready to ship to the Carseland Project site as early as mid-2025.

Environmental Permit Application

Cielo has submitted a full and comprehensive environmental permit application to Alberta Environment and Protected Areas (AEPA) for approval to construct the Carseland Project under the Environmental Protection and Enhancement Act (EPEA). Cielo is well positioned to leverage its early mover advantage in tandem with the Company's prime location, existing infrastructure and the team's proven operational capabilities. Engineering and procurement activities will continue in parallel with the environmental review process so that Cielo is ready to break ground upon receiving regulatory approval, while working towards a final investment decision in Q3 2024.

"We are very pleased to announce these key milestones as Cielo continues the advancement of our Carseland Project with the order of this Gasifier and the submission of the environmental permit application," said Ryan Jackson, Cielo's CEO.

Shares for Debt

Furthermore, Cielo has agreed to settle approximately $25,184 (the "Debt Amount") in debt by way of share issuance (the "Shares for Debt Transaction"), subject to the approval of the TSX Venture Exchange (the "Exchange").

As full and final repayment of the Debt Amount, the Company has agreed to issue 75,577 (subject to rounding) common shares (the "Repayment Shares") at a price of $0.32 per share. The Shares for Debt Transaction is subject to the approval of the Exchange. Upon approval and issuance, the Repayment Shares will be subject to a hold period of 4 months.

Cielo looks forward to providing continued updates as further progress is made and milestones are achieved.

ABOUT CIELO

Cielo Waste Solutions Corp. is fueling renewable change with a mission to be a leader in the wood by-product-to-fuels industry by using environmentally friendly, economically sustainable and market-ready technologies. The process and technology does not use food as feedstock as we are proudly advancing our non-food derived model based on our exclusive licence in Canada for patented Enhanced Biomass to Liquids (EBTL) and Biomass Gas to Liquids (BGTL) technologies and related intellectual property, along with an exclusive licence in the US for creosote and treated wood waste, including abundant railway tie feedstock. We have assembled a diverse portfolio of projects across geographic regions and secured the ability to leverage the expertise of proven industry leaders. Cielo is committed to the goal of producing renewable fuels from wood by-products that contribute to a cleaner fuel source and generating positive returns for our shareholders. Cielo shares are listed on the TSX Venture Exchange ("TSXV") under the symbol "CMC," as well as on the OTC Markets under the symbol "CWSFF."

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