$ECLMF secured a $3 million loan from Export Development Canada to enhance its Hawkesbury tire recycling facility. This loan supplements a restructured $32.1 million loan, aiming to bring the facility to full commercial operation. Additionally, 250,000 stock options were granted to Ross Burt, the new Plant Manager for Hawkesbury.
$ECLMF appoints Gary Economo as CEO, leveraging his finance expertise to scale operations. Using thermal decomposition, they recycle tires into valuable products. Expansion plans include the US and global markets. The Canadian facility targets 85% capacity by year-end. Stocks surged post-appointment, reflecting strong demand.
$ECLMF raised C$506,660.04 to fund its Thermal Decomposition Process (TDP) technology. Combined with a $3M loan from Export Development Canada, this will optimize the Hawkesbury TDP Facility and support expansion. CEO Gary Economo emphasized the company's commitment to sustainability and long-term investor value.
$ECLMF Corporation appoints Gary Economo as CEO, tapping into his track record of driving revenue and profitability in tech firms. Eliot Sorella transitions to Executive Chairman for global expansion. Economo receives 1,100,000 stock options exercisable at $0.165 with a two-year hold period.
$ECLMF shared its 2023 financial report, spotlighting advancements at its Hawkesbury TDP plant. Despite challenges with the carbon black milling machine, delaying full commercialization until Q3 2024, Ecolomondo remains operational, selling steel and pyrolysis oil.
$ECLMF unveils 2024 strategy in webinar, emphasizing resilience amid COVID-19. Focus on bolstering working capital, expanding facilities like Shamrock plant, and prioritizing innovation and sustainability.
$ECLMF $80 million bond from Texas for Shamrock recycling plant. Crystal Hermesmeyer of Shamrock EDC applauds project's green impact. Plant to process 5.5M tires annually, yielding valuable recycled materials. Land secured via agreement with Shamrock Texas EDC.
$ECLMF expands US market access, now listed on OTCQB Markets as "ECLMF." Aligning with global expansion, the move enhances visibility for US investors.
$ECLMF secures $1 million in additional funding from controlling shareholder. Plans to convert previous loans of $3,498,853 into voting common shares at a discounted price of 13.50 cents, pending TSX Venture Exchange approval. Extra $1 million to support commercialization activities at the Hawkesbury facility.
$ECLMF, Restructures $32.1 million loan with Export Development Canada (EDC) for Hawkesbury facility. Maturity extended to May 2029, capped interest at 8.5%, and repayment starts May 1, 2024. Facility, using Thermal Decomposition Process for end-of-life tires, targets full commercial operations by May 2024. Restructuring reflects EDC's ongoing support for the project.
