Ecolomondo Q1 Report: Losses Amid Facility Ramp-Up

Ecolomondo Corporation (TSE:ECM) has released an update.

Ecolomondo Corporation, a cleantech firm focusing on recycling technology, reported a Q1 2024 loss of $1.53 million, attributed mainly to Hawkesbury facility’s operating expenses. The company’s interim financial statements show modest revenues and significant investments in the facility, including a $1.5 million loan from an entity under common control. Despite production ramp-up issues and delays in full commercialization, corrective actions are expected to resolve the throughput and particle size issues by Q3 2024.

For further insights into TSE:ECM stock, check out TipRanks’ Stock Analysis page.