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 Q2 Financial Results, Operational Update and Share Issuance

 

Cielo Waste Solutions Corp. has released its second quarter financial results for the quarter ended Oct. 31, 2017.

Highlights from three and six months ended Oct. 31, 2017:

  1. July 10, 2017: Cielo announced that the company had received its development permit from the MD of Foothills No. 31. Receipt of the permit was a major milestone for Cielo, as it was issued subject only to standard terms and conditions, with which Cielo's management is confident it can easily comply.
  2. July 20, 2017: Cielo announced the hiring of Kwik-Fab Energy Services to dismantle the company's demonstration plant in Red Deer, Alta., and proceed with converting it from a 50-litre-an-hour batch process demonstration plant into a 350-litre-an-hour continuous flow refinery that will produce high-grade renewable diesel at the company's facility in High River, Alta.
  3. July 27, 2017: Cielo announced the signing of a multiyear feedstock agreement with Mountain View Eco Products. This agreement will provide Cielo, at a fixed cost, an ample supply of sawdust and wood shavings to fulfill 100 per cent of the feedstock requirements for the company's first commercial waste to renewable diesel refinery, which is currently under construction on the company's High River, Alta., property. Cielo has the ability to use multiple different garbage-derived feedstocks in its renewable diesel refineries.
  4. Sept. 18, 2017: Cielo announced that its demonstration plant in Red Deer, Alta., had been dismantled for the purposes of moving it to Cielo's property in High River, Alta., to begin to retrofit the existing refinery into Cielo's first commercial plant. With the demo plant dismantled, Cielo began identifying vendors for the larger equipment needed to complete the retrofitting. Cielo has moved its operational offices from an industrial park in Red Deer county to downtown Red Deer, Alta.
  5. Sept. 18, 2017: Cielo announced that PanOptic Automation Solutions has been selected to handle the automation installation for the company's initial refinery. PanOptic is a privately owned Calgary-based consulting firm providing automation and instrumentation. PanOptic will become a strategic partner to oversee the optimization, automation and remote monitoring of the company's proprietary waste to renewable diesel refineries.
  6. Over three of four tranches in July, August and September, 2017, Cielo raised gross proceeds of $2,283,236 ($1,048,236 of which was settlement for debt). The net proceeds from all three tranches are being used to continue with the construction of Cielo's first commercial waste to energy refinery, as well as for general working capital.

This news release should be read in conjunction with Cielo's unaudited financial statements and the accompanying notes, as at and for the three and six months ended Oct. 31, 2017, together with the related management's discussion and analysis. Those documents are available on SEDAR and on the Cielo website.

 

Operational update

 

All process drawings for phase 1 have now been completed. As construction advances occur, Cielo's engineering team is making improvements to the design of the continuous flow modular refineries that are being built on the company's High River property. These design changes will optimize the operational efficiencies of Cielo's refineries. Cielo has approximately 80 per cent of the work completed for the first 350-litre-per-hour refinery and 75 per cent of the design work completed on its 1,800-litre-per-hour refinery that will be commissioned after the first refinery is up and running. Notwithstanding not knowing what the timing will be to receive the prerequisite approval of the EPEA permit from Alberta Environmental and Parks, Cielo anticipates that its first continuous flow refinery will be fully operational in the spring of 2018.

 

Cielo also announces today that it has issued 1,538,461 common shares at 13 cents per share for gross proceeds of $200,000, for the purposes of repayment of debt.

 

About Cielo Waste Solutions Corp.

 

Cielo holds the exclusive licence for the global rights to a transformational, patent-pending technology that can convert garbage-derived feedstocks to renewable diesel, at a significantly lower cost than biofuel companies. The garbage-derived feedstocks include sorted municipal solid waste (garbage), wood and agriculture waste, tires, blue-box waste, all plastics, and virtually any other cellulous waste product that can be converted into high-grade renewable diesel.

 

 

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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