Montreal, QC, January 14, 2025 — Ecolomondo Corporation, a cleantech company specializing in the commercialization of its Thermal Decomposition Process (TDP) proprietary recycling technology and the global deployment of TDP turnkey facilities, is pleased to announce that it has signed on December 2, 2024, a letter of intent for a joint venture with Alternativas Riojanas Eolicas y Solares S.L. (ARESOL) to build a 20,000 metric tons/year of end-of-life tires TDP facility in Spain.

ARESOL is a business group that develops, executes and operates renewable energy projects in all their magnitude, from their conception to their complete installation and operation. Within the company’s expansion plan, Aresol intends to develop and implement several pyrolysis projects for end-of-use tires in Spain, for this reason it chose the Canadian pyrolysis technology developed by Ecolomondo.

It is the intention of Ecolomondo and ARESOL to establish a joint venture through the formation of a new entity to be jointly owned by Ecolomondo, ARESOL and other interested investors that could emerge.

The project will have the capacity to process 20,000 tons/year of end-of-life tires in a single pyrolysis plant, to produce Tire Pyrolysis Oil, recovered Carbon black, steel and syngas.

Ecolomondo would provide the tire pyrolysis technology, and the development-financial aspect will be distributed proportionally between the parties and other possible investors. The overall structure and purpose of the venture is to be negotiated between the parties and will need to be properly documented in the definitive agreements.

“We are excited about this transaction, and we look forward to working with ARESOL. This transaction when completed will be Ecolomondo’s entry into Europe, well in line with the Company’s long term strategic objectives to become a global company, creating sustainable products from end-of-life tires”, said Jean-François Labbé, Interim CEO of the Company.

Press release by Ecolomondo.