Ecolomondo to launch new tire pyrolysis facility in Ontario, Canada
Ecolomondo Corporation – a Canadian supplier of thermal decomposition process technologies for end-of-life-tires – announced that it has selected Maylan Group Inc. of Hawkesbury, Ontario, to construct the building that would house its new Thermal Decomposition Process (TDP) turnkey facility to be located in Hawkesbury, Ontario. The Company and the Contractor have recently signed a binding Design-Build contract with a not-to-exceed price of $6.6 million, with substantial completion expected by January 15, 2020.
Maylan is a privately owned construction company located in Hawkesbury, Ontario, that since 1998 has built numerous commercial, industrial, institutional and residential projects. Maylan prides itself on its reputation, delivering projects on time and on budget.
Ecolomondo also issued additional purchase orders totaling approximately $7.5 million for plant equipment, including reactors, ground flare, gas scrubbers, carbon black and oil processing lines.
As previously announced in Ecolomondo’s press release dated April 3, 2019, the funds for these equipment purchases will come from the proceeds of a project financing loan of $32.1 million from Export Development Canada (EDC) and from an equity injection of approximately $5.2 million by the Company and the Joint Venture partner, Greg Matzel.
According to Ecolomondo, the Hawkesbury TDP turnkey facility will be a first of its kind and be used as a technological showpiece to promote TDP turnkey facilities. Once built, the facility will consist of four different processing departments (shredding, thermal, carbon black processing, oil distillation) and, when fully operational, this facility is expected to process a minimum of 14,000 tons of end-of-life tires per year and produce 5,300 tons of recovered carbon black, 42,700 barrels of tire-derived oil, 1,800 tons of steel and 1,600 tons of process gas.
Ecolomondo is a clean tech company that is marketing its proprietary Thermal Decomposition Process, that recovers resources from end-of-life tires, namely recovered carbon black, oil, gas and steel.
The company expects that its main revenue drivers are the sale of TDP turnkey facilities based on its thermal decomposition technology and to collect royalties from their operation, including revenues from the operations of wholly-owned and joint venture turnkey facilities. TDP turnkey facilities generate their revenues by selling the recovered resources (end-products) that they produce, namely the recovered carbon black, oil, gas and steel.
Ecolomondo asserts that it recovers a high percentage of carbon black (the end-product with the highest commercial value) and produces high quality end-products from tire waste and the process is self-sufficient energywise. Its TDP technology began development over 25 years ago. Today, it is a waste-to-resources company and will benefit from the proliferation of the circular economy technologies.
Waste-to-resources technologies are expected to play a pivotal role in the circular economy. It is expected that a dynamic circular economy will encourage recycling, new opportunities and ready markets to recycled resources.
Press release by Ecolomondo.