Cielo closes first tranche of private placementNews out today that Ciel closed first tranche of the private placement raising $850,000.
CEO Don Allan stated:
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Don Allan, stated: "These are very exciting times for Cielo. With this latest round of funding now in place, we are confident that we will, tentatively before the end of this year, be in a position to showcase to the world our technology that is engineered to convert multiple different waste streams into renewable diesel on a continuous-flow basis. Our demonstration plant that was capable of producing 50 litres of renewable diesel an hour is now being moved to our property in High River, Alta., where it will be retrofitted into a 350-litre-an-hour continuous-flow refinery. Once our technology is validated that it is scalable, on a continuous-flow basis. Cielo's strategic plan is to build multiple modular refineries that will produce millions of litres of high-grade renewable diesel a year from thousands of tonnes of garbage." TSXPlayer
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