Ecolomondo Corporation (Ecolomondo), a cleantech company that designs, builds, operates and commercializes Thermal Decomposition turnkey plants using its proprietary Thermal Decomposition Process (TDP) recycling technology, announced the appointment of Mr. Gary Economo as Chief Executive Officer.

Mr. Economo is an accomplished senior executive with demonstrated year-after-year success achieving revenue, profit and business-growth objectives within startup, turnaround and changing markets. As per Ecolomondo, Mr. Economo is a results-oriented, and dynamic leader with proven success in new market identification, corporate efficiency and strategic positioning for multi-million-dollar private and publicly traded technology, advanced materials, and resource corporations. Mr. Economo has raised substantial capital for companies and brings more than four decades’ experience in international finance, mergers, and acquisitions and has a proven track record in driving profitability through innovation, productivity, revenue increases, and cost control. He has also served on several boards of TSX, TSXV and CSE-listed companies.

Mr. Eliot Sorella will take on the role of Executive Chairman and retain the position of Chairman of the Board of Directors of the Company. He acquired Ecolomondo when it was still a cleantech R&D project in 2008, he financed its development and commercialization, listed it on the TSX Venture and OTCQB exchanges and help make Ecolomondo one of the global leaders in its industry. As Executive Chairman, Mr. Sorella will focus on the global expansion of the Company while supporting the new CEO in the corporate development and to achieve the Company’s strategic objectives.

Concurrent with the appointment of Mr. Economo and subject to the acceptance of the TSX Venture Exchange where applicable, the Company announces the grant of 1,100,000 stock options at a price of $0.165 (the “Options”). The Options shall be exercised at the latest on the first-year anniversary of the appointment, and the Options and its underlying common shares will be subject to a hold period of two (2) years from the date hereof.

Press release by Ecolomondo.