Cielo Waste Solutions Corp. is an Alberta, Canada based public company with its shares listed to trade on the Canadian Securities Exchange ("CSE") under the symbol "CMC". Cielo is commercializing a gamechanging technology that converts multiple different waste streams into renewable diesel, at a cost that is less than 50% of the price currently being paid for biofuels in Canada. Landfills are one of the world's leading contributors to Green House Gas emissions and are projected to double in size over the next 7 years. Cielo's proprietary technology can resolve this crisis, on a cost-effective basis, by converting multiple different feedstocks, including municipal solid waste (garbage), wood waste, used tires, blue-box waste, all plastics and virtually any other cellulous waste product into high grade renewable diesel, which burns much cleaner than conventional diesel.

 

 

Latest News Release

Cielo Announces $3.5 Million Term Sheet to Fund the Construction of its 1st Commercial Plant and Provides an Operational Update

 

Vancouver, British Columbia, Canada / September 18, 2017 / CSE:CMC: Cielo Waste Solutions Corp. ("Cielo" or the "Company") is pleased to announce that it has agreed on a non-binding term sheet with a Private Alberta based lender (the “Lender”) for a $3.5 million line of credit (the “Credit Facility”) to Cielo for the conversion of the its pilot plant in High River, Alberta (the “Pilot Plant”) into a commercial process and to refinance its existing mortgages. A firm agreement is expected upon the completion of due diligence by the Lender and the finalization of terms.

 

The Credit Facility would be structured as a demand based, non-revolving line of credit and would bear simple interest at 12% annually. Payments of interest only would be required until September 30th, 2018 and Cielo would be able to repay the loan without penalty any time after September 30th, 2018. The Lender would receive security in the assets of the Company as well as bonus warrants, exercisable at $0.20 per share, on additional terms to be determined.

 

The Credit Facility would be used to repay the current mortgage on the property in High River, Alberta where the Pilot Plant is located as well as the full indebtedness owed on Cielo’s demonstration plan (the “Demo Plant”), which is being converted into the Pilot Plant. The balance would be used to fully construct Cielo’s first commercial plant and allow Cielo to begin commercial operations.
 

Cielo's President and CEO, Don Allan, stated “We are extremely excited to partner up with the Lender to launch our company from pilot stage to full commercial stage. This is an extremely huge milestone for the company as this would provide for the final funds required for construction. Once in place, we can fully concentrate on the retrofitting of our Pilot Plant into commercial production. Being full steam ahead we are optimistic that we could potentially get into production shortly after we obtain our operating permit from the Alberta Government.”
 

Operational Update
 

The Demo Plant in Red Deer has now been dismantled for the purposes of moving it to the Company’s property in High River, AB to begin to retrofit the exiting refinery into Cielo’s first commercial plant. With the Demo Plant dismantled, Cielo has now begun identifying vendors for the larger equipment needed to complete the retrofitting. Cielo has also moved its operational offices from an industrial park in Red Deer County to downtown Red Deer.
 

Cielo is also pleased to announce that management has selected PanOptic Automation Solutions (“PanOptic”) to handle the automation installation for the Pilot Plant. PanOptic is a privately-owned Calgary based consulting firm providing automation and instrumentation. PanOptic willbecome a strategic partner to oversee the optimization, automation and remote monitoring of the Company’s proprietary waste to renewable diesel refineries.
 

Don Allan, President and CEO of Cielo, stated: “PanOptic is the perfect strategic partner for us to be working with, as we are not only in the process of retrofitting our demonstration plant into a 350 liter an hour continuous flow refinery, but concurrently finalizing the engineering drawings to build our follow-on 1,800 liter per hour refineries, which we plan to deploy globally. PanOptic has impressed us with their insight as to how we can plan towards making our refineries as efficient as possible through automation and remote monitoring. The ideas proposed by PanOptic are aligned with our vision to build multiple plants in Alberta as well as in other jurisdictions.”
 

Barry Becker, President of Panoptic Automation Solutions, commented: “Our partnership with Cielo combines an answer to the planets limited landfill space with the current trend of automation and data exchange in manufacturing technologies. The future of biofuels is being revolutionized in our own backyard and it’s happening in a way that uses automation to optimize the operation of these mini-refineries with cyber-physical system monitoring and centralized control using remote control technology.”

 

 

For more information contact;

Cielo Waste Solutions Corp.
Don Allan, President & CEO
(403) 348-2972 Ext. 101
Email: donallan@cielows.com

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Richard Mills has based this document on information obtained from sources he believes to be reliable but which has not been independently verified.

 

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