Cielo Waste Solutions Advances Acquisition of Clean Fuel Facility

Cielo Waste Solutions Progresses with Clean Fuels Acquisition

Cielo Waste Solutions Corp. (TSXV: CMC; OTC PINK: CWSFF), a leader in renewable energy solutions, is excited to announce updates regarding their intended acquisition of a state-of-the-art Enhanced Gas to Liquids (EGTL) facility, located in Alberta and currently operated by Rocky Mountain Clean Fuels Inc. (RMCFI). This facility employs groundbreaking EGTL technology, which effectively transforms natural gas and its liquid derivatives into synthetic diesel and jet fuel.

Enhancing Biofuel Production Through Innovation

In earlier communications, Cielo outlined a binding letter of intent with RMCFI, aimed at finalizing the transaction. This acquisition is pending approval from the TSX Venture Exchange. To optimize the operations within the EGTL facility and widen the variety of raw materials utilized, Cielo intends to establish a gasifier adjacent to the facility. This innovative addition will support the deployment of their patented Enhanced Biomass to Liquids (EBTL) technology, enabling the production of Bio-Syngas from biomass inputs.

Transitioning to Bio-Synfuels

The integration of Bio-Syngas enhances the function of natural gas and natural gas liquids, facilitating the production of Bio-SynJet and Bio-SynDiesel. Notably, these alternative fuels exhibit nearly zero carbon emissions, aligning with global environmental goals. The Cielo methodology represents a transformative approach toward a cleaner fuel landscape, efficiently intertwining technology and sustainability.

Updates on the Transaction Process

Recent developments have allowed both Cielo and RMCFI to extend the timeline required for thorough due diligence surrounding this acquisition. Continuous collaboration between both parties aims to clarify and solidify all major terms necessary for this transaction. Furthermore, upon the completion of a definitive agreement, Cielo plans to communicate additional updates regarding the process.

Significant Grant for Enhanced Operations

In a significant advancement, RMCFI secured a C$20.8 million grant under the Alberta Petrochemicals Incentive Program (APIP). This grant, which is expected to be incorporated as a vital asset under the agreement, enhances the feasibility of the transaction. Achieving crucial operational milestones will activate payment processes contingent on the grant's terms.

Comments from Leadership

Ryan Jackson, CEO of Cielo, expressed optimism regarding the grant's potential impact, stating, "The funding announced by RMCFI for the EGTL Facility enhances the APIP grant's financial assurances, thereby reducing the risk involved in financing our acquisition." Such strategic financial moves support Cielo’s commitment to expanding sustainable energy solutions.

Collaborative Future in Clean Energy

Doug Geeraert, President and CEO of RMCFI, reaffirmed the collaborative spirit of this venture, stating, "We are eager to work alongside Cielo, ensuring the successful transaction and enhancing the facility's capacities for producing Bio-Synfuels, contributing significantly to the energy transition movement.” Their partnership exemplifies an energetic and forward-thinking approach to improving fuel production technologies.

About Cielo Waste Solutions Corp.

Cielo Waste Solutions is at the forefront of a renewable energy revolution, dedicated to innovating within the wood by-product-to-fuels sector using sustainable and ecologically friendly technologies. With exclusive licenses for patented processes such as EBTL and BGTL, Cielo's business model prioritizes not only environmental benefits but also economic viability for stakeholders. Their diverse portfolio and collaboration with industry experts underline their aim for sustainable fuel alternatives.

Frequently Asked Questions

What is the status of Cielo's acquisition of the EGTL facility?

Cielo is currently finalizing the acquisition process of the EGTL facility from RMCFI, pending TSX Venture Exchange approval.

What are Bio-Synfuels?

Bio-Synfuels are alternative fuels produced using biomaterials, showcasing reduced carbon intensity compared to conventional fuels.

How will the APIP grant affect the transaction?

The C$20.8 million grant will play a crucial role in facilitating the acquisition and operational enhancements at the EGTL facility, diminishing financial risks.

What technologies is Cielo utilizing in its operations?

Cielo employs patented Enhanced Biomass to Liquids (EBTL) and Biomass Gas to Liquids (BGTL) technologies aimed at converting biomass into sustainable fuels.

Who can I contact for more information regarding Cielo?

Inquiries can be directed to Cielo Investor Relations, with Ryan Jackson, CEO, available at (403) 348-2972 or via email at investors@cielows.com.

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