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Once completed, the
The Bio-SynDiesel® fuel produced at the
“With three cornerstone agreements in place, Cielo has been able to ramp up the definition, scope and scale of the
Carseland Project Recent Progress & Milestones
The engineering and technical teams at Expander continue to make progress and expect to be in a position to submit a new permit application to Alberta Environment and Protected Areas in the coming weeks.
Several existing critical commercial and business agreements underpin the progress that has been achieved to date. These agreements are noted below and were acquired under the terms of the acquisition transaction with Expander, completed and announced in
- Biomass Feedstock: Cielo has secured a long-term contract with an established local biomass supply company,
ECCO Recycling & Energy Corporation . This contract provides Cielo with an ongoing and cost-effective supply of the requisite biomass feedstock for theCarseland Project . - Site Location: As a core component of the
Carseland Project , and as previously disclosed, Cielo has secured approval for a long-term lease on a parcel of land totaling 25 acres, situated immediately adjacent to the existing and operational RMCFI synthetic fuel facility in Carseland. This enables Cielo to leverage existing infrastructure and operational capabilities to accelerate commercial production of Bio-SynDiesel® fuel. - Syngas Processing Agreement: The transaction with Expander allowed Cielo to secure a long-term syngas processing agreement with RMCFI. Through this agreement, Bio-Syngas produced at the
Carseland Project will be converted into 8.2 million litres per year of renewable Bio-SynDiesel® fuel at the existing, operational and adjacent synthetic fuel facility.
Cielo looks forward to providing continued updates as further progress is made and milestones are achieved.
ABOUT CIELO
For further information please contact:
Cielo Investor Relations
Phone: (403) 348-2972
Email: investors@cielows.com
RB
Email: cielo@rbmilestone.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. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Cielo is making forward looking statements, with respect to, but not limited to: the
Investors should continue to review and consider information disseminated through news releases and filed by the Company on SEDAR+. 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, the Company assumes no obligation to publicly update or revise such statements to reflect new information, subsequent or otherwise.
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