Cielo secures new loan to help complete upgrades at Aldersyde facility

May 6, 2020 |

In Canada, Cielo Waste Solutions Corp. has issued a promissory note in favor of 1823741 Alberta Ltd., operating as Kwik-Fab Energy Services, a long-time supplier and contractor of the Company’s.

Kwik-Fab, as a result of its solid long-term relationship with Cielo, has agreed to provide additional support to Cielo by converting C$1 million of its receivable from Cielo into a C$1 million term loan. As Cielo’s prime contractor, management believes Kwik-Fab has illustrated its confidence in Cielo’s proprietary waste-to-fuel technology. The Loan will allow Cielo to move one step closer to completing the upgrades at the company’s Aldersyde facility, which are being engineered to increase continuous flow production of renewable fuels from 100 liters an hour to 1,000 liters an hour.

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Category: Fuels

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