Cielo announces investor for waste-to-fuel refinery

Cielo Waste Solutions Corp. says it has entered into a joint venture agreement with a Toronto-based investor for funding for its first commercial-scale waste-to-fuel refinery.

Cielo Waste Solutions Corp. says it has entered into a joint venture agreement with a Toronto-based investor for funding for its first commercial-scale waste-to-fuel refinery.

A release issued by Cielo (CSE:CMC), which is based in Surrey, B.C. but has its operational headquarters in Red Deer, said the funding will be used to complete upgrades to an existing demonstration plant in Red Deer, as well as file patents, and engineer and build the commercial refinery.

“This money will not only ensure our first plant is built, but it will pave the way for more companies and municipalities who are interested in purchasing our technology at a commercial scale,” said Don Allan, president and CEO of Cielo.

Cielo’s technology converts municipal waste like paper, cardboard, cloth and plastic into diesel fuel. The company has said it wants to set up multiple refineries at the Horn Hill waste transfer station east of Penhold, and also sell refineries.

Under the joint venture agreement, Cielo will receive an initial $1 million, and once it satisfies certain conditions additional funding of up to $10 million for the construction of a commercial-scale refinery. This will be located in Red Deer. The investor will receive an interest in Cielo’s technology, and a percentage of Cielo’s revenues and other consideration. It will also have the right of first refusal to fund up to 100 refineries in Canada, to a maximum of $10 million per refinery.

Cielo previously announced that it has entered into an agreement with New Fuel International Inc. of Seattle, Wash., for New Fuel to market and produce renewable biofuel from industrial biomass waste streams in California, Oregon, Washington, Hawaii, Alaska, British Columbia and Ontario. It also announced an agreement with Emerald Green Energy Pty Ltd. of Perth, Australian, for Emerald to sell Cielo products in Australia.

Just Posted

Manslaughter charge laid against Red Deer man more than a year after homicide

A manslaughter charge has been laid against a Red Deer man, more… Continue reading

Woman facing charges after pedestrian critically injured in hit and run

A woman is in custody in connection with an alleged hit and… Continue reading

Friday hail storm came at a bad time for farmers

Amount of damage a hail storm does often depends on how far along crops are

Concern growing over poor hay crops

Hay yields in some areas half of what it was last year

Updated: SUV smashes through fences and deck in Anders

Driver taken to hospital after SUV veered off 30th Avenue into Anders

Man suffers critical injuries, Red Deer police arrest woman in pedestrian crash

A man is in hospital with critical injuries and Mounties have arrested… Continue reading

Cull hasn’t been able to solve bunny burden in Alberta mountain town of Canmore

CANMORE, Alta. — Problems persist in an Alberta mountain town overrun with… Continue reading

Canada should help Holocaust denier on trial in Germany: civil liberties group

OTTAWA — A civil liberties group is urging the Canadian government to… Continue reading

Westerner Days: Send us your photos

Your reader photo may just make the pages of the Adovcate.

Adam Henrique signs $29.1M, 5-year extension with Ducks

ANAHEIM, Calif. — Centre Adam Henrique has signed a $29.1 million, five-year… Continue reading

Fashion firms upend design routine to focus on speed, trends

NEW YORK — Prototypes? Passe. Fashion company Betabrand saw that knitwear was… Continue reading

Trimming and tidying: Perennials need care too

The great attraction in growing perennial flowers is that you never have… Continue reading

Johnny Depp settles lawsuits involving former managers

LOS ANGELES — Johnny Depp has settled lawsuits with his former business… Continue reading

Most Read

Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month