Company: Environmental waste international
Listings :TSXV , US OTC
Ticker: $EWS $YEWTF
Market cap at time of publication: $82 MCD
Stock price at time of publication: 0.33 CAD
Business: Tyre and waste recycling through reverse polymerization
TAM Market size: 158 billion $
Comparable peer : Scandinavian Enviro systems $SES
One of our biggest holdings , EWI, today announced that they have received an additional $600.000 investment from their Joint Venture partner Torreco Inc. The payment is part of the $7 million investment which has been agreed on with Torreco Inc.
The press release stated ” Torreco has now invested $1 million and owns 10% of Ellsin. It is committed to investing an additional $6 million over the next four months. After investing $7 million, Torreco will own 70% of Ellsin; EWS will retain 30%. The $7 million will be used to expand and modernize this state-of-the-art plant utilizing EWS’s latest technology. EWS will receive a royalty of 6% of revenues, and the facility will be available for demonstration to potential EWS customers throughout the world.”
The Joint Venture partner Torreco has in return to to this investment opportunity agreed to build three additional waste tire facilities in Ontario over the next five years and will retian exclusive rights for Ontario if they live up to this comittment.
ESG comment: It’s very positive and promising that Joint Venture partner Torreco inc has continued to show their serious comittment to the development of the first full scale plant of the unique and patented reverese polymerization technology of EWI. In my opinion this facility, when ready, will contribute massively towards a global rollout of EWI technology for tire recycling customers worldwide. In total there are now 5 EWI facilities planned to be built: 4 in Canada by Joint Venture partner Torreco Inc and one by the EWI customer Windspace/Elysium in Denmark, Europe.
I own shares in this company personally and this is not to be considered financial advise neither are my opinions to be considered recommendations of any kind, always do your own research !
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