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Ecolomondo Corporation ( (TSE:ECM) ) has provided an update.
Ecolomondo Corporation has announced the signing of a letter of intent for a joint venture with Alternativas Riojanas Eolicas y Solares S.L. (ARESOL) to establish a 20,000 metric tons/year tire recycling facility in Spain. This collaboration marks Ecolomondo’s entry into the European market, aligning with its strategic goals of global expansion and contributing to sustainable product creation from end-of-life tires. The new venture will utilize Ecolomondo’s pyrolysis technology to produce valuable materials such as Tire Pyrolysis Oil and recovered Carbon black, with financial and developmental responsibilities shared among Ecolomondo, ARESOL, and potential investors.
More about Ecolomondo Corporation
Ecolomondo Corporation, headquartered in Québec, is a Canadian cleantech company specializing in proprietary Thermal Decomposition technology (TDP) for sustainable tire recycling. With a 25-year history, Ecolomondo focuses on recovering high-value reusable commodities from scrap tire waste, such as recovered Carbon black, oil, syngas, fiber, and steel, and aims to be a leader in the cleantech space and a contributor to the global circular economy.
YTD Price Performance: -29.73%
Average Trading Volume: 19,664
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$28.27M
Learn more about ECM stock on TipRanks’ Stock Analysis page.
