Ecolomondo Appoints its New Auditor Forvis Mazars LLP
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Montreal, QC, February 21, 2025 – TheNewswire - Ecolomondo Corporation (TSXV: ECM) (OTCQB: ECLMF) (the “Company” or “Ecolomondo”), a leading Canadian innovator in sustainable scrap tire recycling technology, is pleased to announce that it has appointed Forvis Mazars LLP (“Forvis Mazars”) as its independent auditor, effective February 10, 2025.
The board of directors of the Company appointed Forvis Mazars as the new auditor until the next annual general meeting of the Company.
The Company selected Forvis Mazars after discussions with several other potential replacements to Raymond Chabot Grant Thorton LLP (“RCGT”), the Company’s former auditor. The selection criteria were stringent and included reputation, quality of the audit team and costs.
The Company’s Board thanks RCGT for their services as the Company’s auditors over the past many years.
The Company has sent a Notice of Change of Auditor (the “Notice”) to RCGT, the former auditor, and to Forvis Mazars, the successor auditor, and has received a letter from each, addressed to the securities commissions in each of Quebec, British Columbia, and Alberta stating that they agree with the information contained in the Notice. The Notice, together with the letters from RCGT, as the former auditor, and Forvis Mazars, as the successor auditor, are available on www.sedarplus.ca.
“We are pleased with our selection and look forward to building a professional and proactive relationship with Forvis Mazars and their audit teams”, said Jean-François Labbé, Interim CEO of the Company.
About Forvis Mazars
Forvis Mazars is a leading global professional services network operating under a single brand with two members: Forvis Mazars, LLP in the United States and Forvis Mazars Group SC, an internationally integrated partnership operating in over 100 countries and territories. Forvis Mazars in Canada has over 50 years of experience in providing Assurance, Accounting, Tax and Advisory Services.
About Ecolomondo Corporation
Ecolomondo Corporation, headquartered in Québec, is a Canadian cleantech company that takes pride in its proprietary Thermal Decomposition technology (TDP). It has a 25-year history and during this time has been focused on its development of its technology and the deployment of TDP turnkey facilities. TDP recovers high value re-usable commodities from scrap tire waste, notably rCB, oil, syngas, fiber and steel. Ecolomondo expects to be a leading player in the cleantech space and be an active contributor to the global circular economy. Ecolomondo trades in Canada on the TSX Venture Exchange under the symbol (TSXV:ECM) and in the United States under the symbol (OTCQB:ECLMF). To learn more, visit www.ecolomondo.com
About the Hawkesbury Plant – A 2-Reactor TDP Facility
The Hawkesbury facility building is 46,200 sq.ft and has an indoor clearance of 28 feet. It is state-of-the-art and houses 3 main production departments, tire shredding, thermal decomposition and recycled carbon black refining. Once fully operational, this facility is expected to process over 1.5M of scrap tires per year and produce 4,500 MT of recovered carbon black, 5,400 MT of oil, 2,250 MT of steel, and to process 1,350 MT of process gas.
About the Shamrock Project – A 6-Reactor TDP Facility
Processing capabilities for the Shamrock facility is projected at 5 million end-of-life tires per year, yielding approximately 15,000 MT of recovered carbon black, 18,000 MT of oil, 7,500 MT of steel, and to process 4,500 MT of syngas; roughly three times the size of the Company’s Hawkesbury (Ontario) plant output that is expected to soon commence regular commercial operations. Facility construction is expected to begin by the third quarter of 2025 and projected to cost approximately US$93 million.
Our Mission, Vision & Strategy
Ecolomondo’s mission is to be a contributing participant in a dynamic Circular Economy and to increase shareholder value by producing and supplying large quantities of recovered resources to be re-used in the manufacture of new products.
Ecolomondo’s vision is to be a leading producer and reseller of recovered resources by building and operating TDP facilities, strategically located in industrialized countries, close to feedstock, labor and offtake clients.
Our strategy is to become a major global builder and operator of TDP turnkey facilities, for now specializing in the processing of ELTs. Our intent is to expand aggressively in North America and Europe. Our experience and modular technology should help us get there faster and better. We plan to keep performing ongoing research and development to ensure that Ecolomondo remains technologically advanced.
ISCC Certification
Environmental, Social & Governance (ESG)
On the social aspect the Company plans to measure global health and safety, injury rate and gender diversity, and finally in the corporate governance aspect, the Company is measuring ethics and anticorruption, ESG reporting and board independence.
About TDP
The TDP process is technically proven and more advanced than most other pyrolysis technologies. Over the years, our Technological teams were able to overcome all uncertainties that plagued most competitors especially in these areas: pre-filtration, reactor cooling, reactor rotation, water recycling, processing of rCB, (hydrocarbon removal), mass monitoring, heat curve development, humidity and water removal, safety testing, system automation, emissions control and monitoring.
TDP is Environmentally Friendly – CO2 Reduction
By producing rCB, TDP reduces GHG emissions by 90% versus the production of virgin carbon black. The production of rCB at the Hawkesbury and Shamrock facilities are expected to reduce CO2 emissions by 15,000 and 45,000 tons per year, respectively.
Please follow Ecolomondo on Twitter, Facebook, LinkedIn, Instagram and YouTube.
Facebook: https://www.facebook.com/EcolomondoECM
LinkedIn: https://www.linkedin.com/company/ecolomondo/
Instagram: https://www.instagram.com/ecolomondoecm/
YouTube: https://www.youtube.com/@Ecolomondo
Ecolomondo Corporation Contact
JF Labbé
Interim CEO, Ecolomondo
Tel: (450) 587-5999
jflabbe@ecolomondocorp.com
Cautionary Note Regarding Forward Looking Statements
The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Ecolomondo believes that the expectations reflected in forward looking statements are reasonable, it can give no assurance that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Ecolomondo disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.