(via TheNewswire)
![](https://tnw-c.thenewswire.com/data/tnw/clients/logos/k98Fg7YL.png)
![](https://tnw-c.thenewswire.com/data/tnw/img/facebook.png)
![](https://tnw-c.thenewswire.com/data/tnw/img/twitter.png)
![](https://tnw-c.thenewswire.com/data/tnw/img/linkedIn.png)
![](https://tnw-c.thenewswire.com/data/tnw/img/youTube.png)
Aldersyde Facility Update:
Cielo and its contractors have completed the installation of the newly engineered proprietary cooling equipment at its waste-to-renewable fuel facility in Aldersyde,
Cielo is pleased to announce that the Aldersyde Facility is now working with a third-party engineering team to fine tune the temperatures and mass balance in order to achieve the Cielo’s 24,000 litres per day (1,000lph) output goal. The complex process is expected to benefit the Aldersyde Facility and all future facilities, including the previously announced joint venture facilities to be built, with the intention of maximizing quality, output and profit.
Cielo is currently completing another facility upgrade, which is the installation of a submersible heater that will be used to preheat the used motor oil to help keep the reactor at the optimal operating temperature. This upgrade is expected to be completed as early as next week.
The distillate Cielo has in its storage tanks has been used to produce renewable naphtha and diesel, and Cielo has satisfied the volume required for the presale order that was announced on
Desulfurization:
Cielo has fast tracked the order of catalyst that will be used in the desulphurization process and its engineers have completed the fabrication drawings to build the necessary proprietary equipment. Cielo is now soliciting quotes for all the required equipment and once satisfied with the quotes, will immediately order the equipment for fabrication and installation. Desulfurization is something we always knew we needed to tackle and now that we have solved the cooling issue and several other major facility milestones it is proper timing to use our research and cooperation with the
Dunmore Facility Update:
Debt Financing:
As previously announced, Cielo is actively seeking to raise up to CAD
As previously announced, Cielo has received multiple term sheets and is in the process of negotiating the terms to select the optimal funding partner(s) for Cielo’s expansion of the Aldersyde Facility.
Cielo’s President & CEO,
Date:
Time:
Register Here
HAVE QUESTIONS?Managementwill be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand via email atcielo@rbmilestone.com.
On behalf of the Board of Directors of the Company,
“Don Allan”
---------------------------------------------------------------- |Investor Relations (Canada ) |Investor Relations (USA ) | |--------------------------------------------------------------| | | | |--------------------------------------------------------------| |Lionel Robins (780) 832-6810|RB Milestone Group, LL | |--------------------------------------------------------------| |lionelrobins@cielows.com |Trevor Brucato , Managing Director| |--------------------------------------------------------------| | |New York, NY&Stamford, CT | |--------------------------------------------------------------| | |cielo@rbmilestone.com | ----------------------------------------------------------------
Public Relations
raphael@branduagency.ca
About
CIELO is headquartered in
CIELO has already begun expanding its footprint by signing multiple Memorandums of Understanding pursuant to which third parties are in negotiation with CIELO to build, at no cost to CIELO, Joint Venture Renewable Diesel Facilities in
Cautionary Note Regarding Forward-looking Statements
This News Release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "anticipate", "achieve", "could", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "outlook", "expect", "may", "will", "project", "should" or similar words, including negatives thereof, suggesting future outcomes.
Forward-looking statements are subject to both known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements.CIELOis making forward looking statements related to: the Term Sheets, including the likelihood or success of completing a resulting debt financing, and the indirect results thereof, including increased profits and reduced costs; and the completion and further progress of the Aldersyde Facility, including the implementation of additional equipment and other upgrades and the desulfurization process; . Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Forward-looking statements are not a guarantee of future performance and involve a number of risks and uncertainties, some of which are described herein. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and results to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Any forward-looking statements are made as of the date hereof and, except as required by law, neither the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.The CSE and the OTCQB have not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in
Copyright (c) 2021 TheNewswire - All rights reserved.
Copyright (c) 2021 TheNewswire - All rights reserved., source