Ecolomondo Finalizes the Agreement to Restructure Its Project Financing Loan With 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 signed an agreement (“Restructured Loan”) to restructure 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”) to process end-of-life tires to produce re-usable resources.

The Restructured Loan will have a maturity date of May 2029 and caps the interest rate at 8.5%. Capital and interest payments will begin May 1, 2024, and be repaid in quarterly installments of principal and interest based on a twenty-five-year amortization. Accumulated interest on the Loan until May 1, 2024, will be capitalized to the Loan without additional interest if both the Loan and the accumulated interest are paid back by the maturity date.

This Restructured Loan facility will allow the Company to work through the final steps to bring the Hawkesbury TDP facility to full commercial operations, expected by May of 2024.

The Hawkesbury facility generated revenues during the year, mostly in the third quarter of 2023, from the sale of end-products. Customers that purchased Ecolomondo’s end-products expressed satisfaction while many placed repeat orders.

The Company believes that once fully ramped-up and commercially operational, the Hawkesbury plant will be a testimonial to an efficient and commercial TDP turnkey facility.

"Ecolomondo is proud to conclude this Restructured Loan agreement for this great project. It confirms once again EDC’s continued support of the Hawkesbury TDP turnkey plant and of Ecolomondo", said Elio Sorella, President and CEO, Ecolomondo.

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