Mr. Eliot Sorella reports

ECOLOMONDO ANNOUNCES AN EXPANDED LEADERSHIP TEAM

Ecolomondo Corp. has expanded its leadership team.

Nimish Sethi, Eng, MBA, has been nominated facility general manager for the company's Hawkesbury TDP (thermal decomposition process) facility. As the new facility general manager, Mr. Sethi will supervise the start of commercial operations. In particular, he will complete the hiring of production and maintenance teams, and implement protocols and processes, including ISO (International Organization for Standardization), ISCC (International Sustainability and Carbon Certification) and ESG (environmental, social and governance) programs. The facility will further benefit from his experience in process optimization and manufacturing areas.

The company has fully financed $45-million in the construction and commissioning costs that were needed to build the Hawkesbury two-reactor TDP facility. The plant is expected to process 12,786 metric tons of scrap tires per year to produce 4,200 metric tons of recovered carbon black, 5,200 metric tons of oil, 1,430 metric tons of steel, 1,270 metric tons of process gas and 675 metric tons of fibre. Revenue streams of the Hawkesbury facility will come from the sale of the recovered end-products, more precisely carbon black, oil, steel and fibre, while the syngas will be consumed in the process.

Mr. Sethi brings with him a wealth of experience in manufacturing and engineering from several industries, including over seven years in the automotive industry and in consulting firms on engineering processes and strategic management. Mr. Sethi is particularly experienced in process optimization and improvement of strategic operational efficiencies for manufacturing and digital services. He holds a bachelor's degree in mechanical engineering, a master's degree in environmental sciences and an MBA from Sprott School of Business, Carleton University.

The company is also pleased to announce that Vaizag Mehta, MBA, has joined the Ecolomondo team as executive assistant to the chief executive officer, Eliot Sorella. He will assist Mr. Sorella in the general management and supervision of the company. Mr. Mehta will greatly contribute to financial activities of the company with his strong experience in financial, accounting and corporate management. He has worked many years in equity markets, accounting and auditing. Mr. Mehta holds an MBA degree in finance from Carleton University and is a CPA and CFA.

The current Hawkesbury interim plant manager, Hari Mynampati, will gradually transition the management of the Hawkesbury plant to Mr. Sethi, the new facility general manager. Mr. Mynampati played a key role in the commissioning of the facility during the past year. His previous experience in the carbon black industry contributed to the company's quality assurance and initial commercialization of end-products. After the transition period, Mr. Mynampati will continue on his original mandate to develop international sales for the company and establishing long-term global business relationships.

"I am thankful to Hari for his significant contribution, and I welcome Nimish and Vaizag to Ecolomondo. These two highly qualified people shall be a great addition to our management team," said Mr. Sorella, who is Ecolomondo's chairman and CEO.

In a webinar, on Sept. 13, 2023, Mr. Sorella provided an update on ramping up capacity and strengthening shareholder value of Ecolomondo. You can view the recording on YouTube. Additional details are available on Ecolomondo's website.

About Ecolomondo Corp.

Ecolomondo is a Canadian cleantech company that prides itself after its proprietary TDP, which is headquartered in Quebec, Canada. It has a 25-year history and during this time has been focused on its development of its technology and the deployment of TDP turnkey facilities. TDP recovers high-value reusable commodities from scrap tire waste, notably rCB (hydrocarbon removal), oil, syngas, fibre and steel. Ecolomondo expects to be a leading player in the cleantech space and be an active contributor to the global circular economy. Ecolomondo trades on the TSX Venture Exchange under the symbol ECM.

About TDP

The TDP process is technically proven and more advanced than most other pyrolysis technologies. Over the years, the company's technological teams were able to overcome all uncertainties that plagued most competitors especially in these areas: prefiltration, reactor cooling, reactor rotation, water recycling, processing of rCB, mass monitoring, heat curve development, humidity and water removal, safety testing, system automation, and emissions control and monitoring.

TDP is environmentally friendly -- CO2 (carbon dioxide) reduction

By producing rCB, TDP reduces GHG (greenhouse gas) emissions by 90 per cent versus the production of virgin carbon black. The production of rCB at the Hawkesbury and Shamrock facilities are expected to reduce CO2 emissions by 22,400 and 67,200 tons per year, respectively.

About the Hawkesbury plant -- a two-reactor TDP facility

The Hawkesbury facility building is 46,200 square feet and has an impressive indoor clearance of 28 feet. It is state of the art and houses four main production departments, tire shredding, thermal decomposition, recycled carbon black refining and oil fractionation. Once fully operational, this facility is expected to process a minimum of 12,786 metric tons of tire waste per year and produce 4,200 metric tons of recovered carbon black, 5,200 metric tons of oil, 1,430 metric tons of steel, 1,270 metric tons of process gas and 675 metric tons of fibre.

About the Shamrock project -- a six-reactor TDP facility

Processing capabilities for the Shamrock facility is projected at 42,000 metric tons per year of end-of-life tires (ELTs), yielding approximately 15,900 metric tons of recovered carbon black, 128,100 barrels of oil, 5,400 metric tons of steel, 2,550 metric tons of fibre and 4,800 metric tons of syngas, roughly three times the size of the company's Hawkesbury (Ontario) plant output. Facility construction is expected to begin by the end of the fourth quarter of 2023 with completion expected by the end of the second quarter of 2025. The projected cost to build is approximately $93-million (U.S.).

The company's mission, vision and strategy

Ecolomondo's mission is to be a contributing participant in a dynamic circular economy and to increase shareholder value by producing and supplying large quantities of recovered resources to be reused in the manufacture of new products.

Ecolomondo's vision is to be a leading producer and reseller of recovered resources by building and operating TDP facilities, strategically located in industrialized countries, close to feedstock, labour and offtake clients.

The company's strategy is to become a major global builder and operator of TDP turnkey facilities, for now specializing in the processing of ELTs. The company's intent is to expand aggressively in North America and Europe. Its experience and modular technology should help Ecolomondo get there faster and better. The company plans to keep performing continuing research and development to ensure that it remains technologically advanced.

ISO certification

The company has obtained ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certification of its integrated management system (IMS), which acknowledges Ecolomondo's commitment for quality, environmental impact, and health and safety at work.

ISCC certification

The company received the ISCC for its Hawkesbury TDP facility. ISCC is an independent global sustainability certification system and offers chain-of-custody certification systems to ensure traceability and feedstock identity. It is an independent multistakeholder initiative and leading certification system supporting sustainable, fully traceable, deforestation-free and climate-friendly supply chains. Certifications by ISCC cover sustainable agricultural biomass, biogenic waste and residues, non-biological renewable materials, and recycled carbon-based materials.

Environmental, social and governance

On the social aspect, the company plans to measure global health and safety, injury rate, and gender diversity, and finally in the corporate governance aspect, the company is measuring ethics and anti-corruption, ESG reporting, and board independence.

We seek Safe Harbor.