Export Development Canada commits $32M in financing to cleantech firm Ecolomondo

Ecolomondo Environmental Inc. has announced $32.1 million in project financing from Export Development Canada to build a thermal decomposition facility in Hawkesbury, Ontario. The facility will be equipped with two reactors capable of processing 14,000 tons of tire waste per year, yielding 5,300 tons of recycled carbon black, 42,700 barrels of oil, 1,800 tons of steel and 1,600 tons of gas. Ecolomondo anticipates closing the loan by the end of March. Construction will begin in April and commercial operations are expected to launch in the first quarter of 2020. "The Hawkesbury turnkey facility will be one of the most technologically advanced thermal decomposition facilities in the world," said Elio Sorella, president and CEO of Ecolomondo.