Ticker: CMC.CN / CWSFF
Listings: Canadian Securities Exchange / US OTC / Frankfurt – Soon to uplist to TSX venture exchange
Website:https://www.cielows.com/
Market Cap: 813 MCAD at time of publication
Share price: 1.26 CAD at time of publication
Industry: Converting waste to renewable fuel
Cielo Waste Solutions today provided a corporate update on ongoing activities. Cielo is currently focused on three immediate initiatives at the
properties:
1) Desulphurization at Aldersyde facility
2) Continuous designed production of 24,000 liters per day at Aldersyde facility
3) Development and build out of the Company’s new 100% owned Edmonton (Ft. Saskatchewan)
facility.
On May 23, 2021, the desulfurization equipment began to arrive at its facility in Aldersyde. The equipment
is needed for Cielo to reduce the sulphur content to below 15 parts per million (ppm), a priority next step.
In conjunction with this equipment being delivered, Cielo has retained several qualified engineers
(processing, chemical, mechanical and operations) as well as the University of Calgary’s engineering
department, to work with Cielo’s team to complete this initiative. Cielo has now begun commissioning this
process and hope to have it in full operations in the near future. Once completed, Cielo hopes to have a
high-quality diesel product with less than 15 ppm and capitalize on the increasing price per liter which now
stands at above $2.00/liter.
As of June 26, 2021, Cielo is pleased to announce that the Aldersyde plant has been producing diesel from
the distillate storage tank. During this commissioning it was important to make sure all the new equipment
worked with the existing process. Cielo is pleased to announce we have now started to build up the designed
capacity of 24,000 liters per day. Over a 10-day period Cielo produced approximately 53,000 liters of diesel,
recently with one full day of 23,598 liters. On July 2, 2021, Cielo began making distillate from wood waste
and is now operating on a full-time continuous basis. As with the commissioning of the diesel process, it
is important to start slowly and make sure all the new equipment works with the full design process. In the
past 3 days, Cielo has produced approximately 15,100 liters of distillate and is seeing increases in numbers
regularly.
Don Allan, CEO of Cielo, stated, “We are having a great start to the summer and are seeing the fruits of
our labor come together. We have been installing numerous engineering upgrades to operate continuously
to make high-quality renewable diesel and we are excited to announce that this is now being accomplished.
We have worked very hard to get to continuous flow and we have now achieved that. Our next objective is
to commission the desulfurization process, which has begun.”
The Company is also pleased with the initial work begun at the new corporate facility in Edmonton (Ft.
Saskatchewan). The initial steps are to complete the necessary permitting, site design and move forward
with engineering.
Mr. Allan further commented, “With completion of these milestones, Cielo will be in a position to begin to
see revenue at our Aldersyde facility as the company begins ongoing production and subsequently see
consistent revenue growth from the Edmonton (Ft. Saskatchewan) facility once completed. The completion
of these two corporate facilities lays the foundation to build out multiple facilities under the same modular
model and as such potentially see exuberant growth over the next 12 to 36 months. We are also very excited
to be participating in the sod turning ceremony of the Dunmore facility on Thursday, July 8th.”
Cielo remains committed to meeting its corporate objectives and expects to do so on or before the scheduled
timelines. Further updates will be provided as they become available.
ESG comment: We are pleased to see that Cielo Waste Solutions are progressing on their production targets on time. We should hopefully be getting a new update on the desulfurization process. The company is soon expected to generate meaningful revenue which is a tipping point in the progression of the companys development.
We own shares of this company personally.
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