Vancouver, British Columbia (FSCwire) - Cielo Waste Solutions Corp. ("Cielo" or the "Company") (CSE:CMC) is pleased to provide an operations update on the progress of its first commercial refinery in Aldersyde, Alberta (the “Refinery”) that uses its patent-pending technology, which converts garbage-derived feedstocks to renewable diesel.
Cielo’s operations at the Refinery have continued to progress through the commissioning stage. The Company is operating 24 hours per day and over the remainder of this week and next week, the reactor will start up, which will trigger the continuous flow process of generating renewable fuels. This stage of the commissioning phase will be executed using a staggered approach, slowly adding increasing amounts of biomass feedstock until the optimal mix is achieved. Once a sufficient amount of distillates are created, the next stage will be the removal of sulphur and the separation of the renewable fuels into naphtha, kerosene and diesel. It is anticipated that once the fuel additives and other conditioners are combined with the end product, Cielo will be able to start generating revenues from the products.
Don Allan, President and CEO of Cielo, stated “We have remained focused on our end target of producing renewable fuels with our world impacting technology. We are operating the refinery fulltime and very close to starting up our reactor and generating our first batch of renewable fuels from waste. We are grateful for the support and continued trust of our stakeholders and shareholders. We believe we are on the cusp of unlocking tremendous potential value as a company. We look forward to providing further updates as we progress closer to our first batch of renewable fuels.”
For more information please contact:
Cielo Waste Solutions Corp.
Don Allan, President & CEO
(403) 348-2972 Ext. 101
donallan@cielows.com
www.cielows.com
Michael Yeung, CFA, VP, Business Development & Capital Markets
(403) 348-2972 Ext. 103
michaelyeung@cielows.com
www.cielows.com
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 holds the exclusive license for the global rights to a transformational, patent-pending, technology engineered to convert garbage-derived feedstocks to renewable diesel, at a significantly lower cost than biofuel companies. With landfills being one of the world’s leading contributors to Green House Gas emissions and being projected to double in size over the next 7 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.
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, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of its industry. 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 news release.
To view the original release, please click here
Source: Cielo Waste Solutions Corp. (CSE:CMC, FWB:C36)
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