Ecolomondo Concludes an Amending Agreement With Export Development Canada (EDC)

Ecolomondo Corporation (TSXV: ECM) (OTC: ECLMF) (the “Company” or “Ecolomondo”), a cleantech company specializing in the commercialization of its Thermal Decomposition Process (“TDP”) proprietary recycling technology and the global deployment of TDP turnkey facilities, has concluded an Amending Agreement (the “Amending Agreement”) to its original loan agreement (“Loan”) with Export Development Canada (“EDC”).

The original Loan was for an amount of $32.1 million in project financing with EDC, executed on April 3, 2019, to finance the construction of the Company’s first of its kind new turnkey thermal decomposition facility in the Town of Hawkesbury, Ontario (the “Hawkesbury facility”) that will process end-of-life tires to produce re-usable resources.

The Amending Agreement allows for the postponement of principal and interest payments to November 30, 2023 as the Company continues to work through the final steps to bring the new Hawkesbury TDP facility to commercial operations.

The Hawkesbury TDP facility initially started testing of its thermal equipment in January 2023 with an initial payload of 1,600 lbs and gradually increased to reach the optimal payload goal of 15,000 lbs per production cycle of each reactor. The Company’s technical teams are currently working to improve efficiency and ensure the safety of the TDP process and the plant.

The Hawkesbury TDP facility is now capable of processing industrial quantities of end-of-life tires and from them produce industrial quantities of sustainable quality products: oil, gas and recovered carbon black.

“This Amending Agreement confirms once again EDC’s continued support of the Hawkesbury TDP turnkey plant and of Ecolomondo, an innovative Canadian cleantech”, says Eliot Sorella, Ecolomondo’s Chairman & CEO.

About Ecolomondo Corporation

Ecolomondo Corporation is a Canadian cleantech company that prides itself after its proprietary Thermal Decomposition technology TDP which is headquartered in Québec, Canada. It has a 25-year history and during this time has been focused on its development of its technology and the deployment of TDP turnkey facilities. TDP recovers high value re-usable commodities from scrap tire waste, notably rCB, oil, syngas, fiber and steel. Ecolomondo expects to be a leading player in the cleantech space and be an active contributor to the global circular economy. Ecolomondo trades on the TSX Venture Exchange under the symbol (TSXV:ECM). To learn more, visit www.ecolomondo.com