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Cielo Announces Approval of Development Permit to Proceed With Refinery that Converts Garbage into High Grade Renewable Diesel

V.CMC

Cielo Announces Approval of Development Permit to Proceed With Refinery that Converts Garbage into High Grade Renewable Diesel


Vancouver, British Columbia (FSCwire) - CSE: CMC: Cielo Waste Solutions Corp. ("Cielo" or the "Company") is pleased to announce that the Company has received its Development Permit (“Permit”) from the MD of Foothills #31. Receipt of the Permit, is a major milestone for Cielo, as it was issued subject only to standard terms and conditions, which Cielo’s management are confident can easily be complied with.

With the Permit now being granted, Cielo is moving forward with relocating its Red Deer demonstration plant (“Demo Plant) to the Company’s High River Property, that was acquired earlier this year for $2.3 million. For the past 4 ½ years, Cielo has utilized its Demo Plant to optimize its proprietary catalyst formulation and finalize the designs required to scale up its technology, from a 50 liter an hour batch process, into modular continuous flow refineries that can produce millions of liters per year of high grade renewable diesel fuel.

Once the Demo Plant is relocated to the High River Property, it will be retrofitted into the Company’s idle bio-diesel plant converting it into the Company’s first continuous flow high grade renewable fuel refinery. The capital cost to convert the Demo Plant into an operational continuous flow refinery, producing approximately 350 liters an hour of high grade renewable fuel, running 24 hours/day/341 days/year, is projected to be under $2 million.

Cielo’s technology has been proven in the Demo Plant to be able to use multiple different cellulous waste feedstock streams, including garbage, used tires, municipal blue box waste and wood waste converting all of them, on a cost effective basis, into high grade renewable diesel fuel. In Canada alone, there is a mandated demand for renewable diesel of approximately 650 million liters a year that is required to be blended into all transportation diesel. Almost all of this mandated demand is currently having to be imported.

Don Allan, President and CEO of Cielo, stated “With the Permit now in hand, we are excited about moving forward with the construction of the first of many high grade renewable refineries that we plan to deploy around the world. We are also on schedule to apply later this month for the required provincial permit. We are optimistic that we will have the necessary funding in place in short order so as to be able to execute on our strategic plan and showcase our technology to the world before the end of this year.”

Cielo’s renewable diesel is forecast to receive approximately a 25% premium over biodiesel. It will be higher grade, usable year-round and has no water content resulting in a longer shelf life. As a result of Cielo’s feedstock being garbage or other cellulous feedstocks, with negative acquisition costs, versus biodiesel that uses food feedstocks and other costly feedstocks, Cielo will not have to rely on government subsidies to be extremely profitable.

About Cielo Waste Solutions Corp.

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 game-changing 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.

For more information please contact:

Cielo Waste Solutions Corp.
Don Allan, President & CEO
(403) 348-2972 Ext. 222
donallan@cielows.com
www.cielows.com

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, including but not limited to: the use of proceeds of the offering, receipt of all necessary approvals of the offering, general business, economic, competitive, political and social uncertainties; negotiation uncertainties and other risks of the grocery industry. 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.

CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/CieloJuly102017.pdf
Source: Cielo Waste Solutions Corp. (CSE:CMC)

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