Environmental Waste International Announces Updates on Windspace Agreement and ESGFIRE comments!

Company: Environmental waste international
Listings :TSXV , US OTC
Ticker: $EWS $YEWTF 
Market cap at time of publication: $35 MCD
Stock price at time of publication: 0.135 CAD
Business: Tyre and waste recycling through reverse polymerization
TAM Market size: 158 billion $
Comparable peer : Scandinavian Enviro systems $SES
Peer market cap: 160 MCAD
Website: https://www.ewi.ca/

September 28, 2021) – Environmental Waste International Inc. provides an update on its agreement with WindSpace
A/S (“WindSpace”) that was previously announced on August 20, 2020. The parties are continuing to
work toward the development of a 100 metric ton per day waste tire recycling plant in Nyborg,

WindSpace has retained Green Giraffe, a leading renewable technologies financial advisor to assist
them in raising capital for the Nyborg plant. WindSpace is in discussions with a number of
institutional investors, and they hope to complete financing by the end of 2021, but there can be no
assurance that financing will be completed.
WindSpace has developed plans and is seeking financing to build a second 100 metric ton per day
facility in Nyborg as a result of conversations with and ongoing interest from a leading global
industrial manufacturer to become a strategic partner in its projects in Nyborg.
Due to the lengthy lead time related to the plant development in Nyborg, the parties have amended
their agreement to eliminate their exclusive arrangement across Europe. Instead, the parties will
focus their near-term efforts on development of two 100 metric ton per day plants in Nyborg and
have agreed to revisit long-term cooperation opportunities at a later stage.
Separately, on March 22, 2021, EWS announced a conditional agreement with Torreco, Inc. for an
investment of $7 million in Ellsin Environmental Inc., its subsidiary which owns its plant in Sault Ste.
Marie, Ontario. Terreco has funded $1 million and now owns 10% of Ellsin. Due to a number of
factors including travel restrictions, the Torreco funding has been delayed. There can be no
assurance that the balance of the Torreco financing will be completed. EWS continues to move
forward with the upgrade and commercialization of the Sault Ste. Marie plant and will seek financing
elsewhere, if necessary.

ESGFIRE comment:
We are very positive to see that things are progressing with Windspace, although slower than planned due to Covid. Material improvement is to be seen in the fact that Windpace is now planning on building TWO 100 metric tonne per day facilities as a start and NOT only one which should add more revenues for the company within the next year. We are also confident that the company should be able to find additional financing in the unlikely event that their partner Torreco does not fulfill their obligations. We have been increasing our position lately in the 0.13-0.15 CAD range and we remain positive to the company’s development.
Should the stock drop further we will add more to our position.

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