Cielo enters MOU with Renewable U Energy for four more facilities in US and Canada

In Canada, Cielo Waste Solutions has entered into a Memorandum of Understanding dated March 8, 2021 with Renewable U Energy Inc. (“RUEI”).  The MOU provides for Cielo to build, and commission, at no cost to Cielo other than internal costs, three waste to high-grade renewable fuel facilities, one each in Winnipeg, Manitoba, Kamloops, British Columbia and a high-volume location to be determined in the United States. Each Territory includes a radius of 250 km from the outer boundary of the named municipality.

Pursuant to the terms of the MOU, RUEI is required to pay a Joint Venture Fee of C$250,000 per Territory, C$750,000 in aggregate.  Cielo confirms receiving a deposit of C$250,000.  The balance is expected to be delivered on or before March 31, 2021.  Cielo and REUI intend to enter into one or more definitive agreements forming the joint ventures contemplated in the MOU within 30 days of Cielo producing continuously 24 hours a day, 7 days a week for 60 days, a minimum of 500 liters per hour of renewable fuel from garbage at the Company’s facility in Aldersyde, Alberta.