Ecolomondo Corporation has released its unaudited interim consolidated financial statements for the interim period ended September 30, 2020.
Ecolomondo Hawkesbury Plant on Schedule
During the period, the company made considerable progress on the construction of its new Hawkesbury Thermal Decomposition (“TDP”) turnkey facility. Management estimates that construction of the building that will house the plant is about 90 per cent complete and expects completion by the end of 2020. Installation of the plant equipment began in late August of 2020 and is proceeding according to schedule while commissioning is now scheduled to begin in the first quarter of 2021.
As of September 30, 2020, capital expenditures for the Hawkesbury facility totalled $19,965,404 and were essentially for site purchase, engineering, site preparation, building construction, labor, permitting, equipment purchases and installation. Management believes that the project will be completed on budget and expects to begin commercial operations by the end of April of 2021.
During the quarter ended September 30, 2020, the Company continued to ready its Pilot plant, located in Contrecoeur, Quebec, Canada, a 2-reactor industrial-size TDP facility, to operate as the training centre to train future operators needed for the thermal processing department at its new TDP turnkey facility in Hawkesbury.
It also continued to improve its technology platform and make important progress in the areas of process optimisation, efficiency, safety and end-product quality. Once built, the Hawkesbury facility will be comprised of four different processing departments (shredding, thermal processing, recovered carbon black processing, oil fractionation) and, once fully operational, this facility is expected to process a minimum of 14,000 tons of tyre waste per year and produce 5,300 tons of recovered carbon black, 42,700 barrels of oil, 1,800 tons of steel, 1,600 tons of process gas and 850 tons of fibre.