Cielo Waste Solutions (OTCMKTS:CWSFF) Stock Moves Back Above $1: How to Trade Now?
Publicly traded company with a proprietary technology that transforms landfill garbage into high-grade diesel, kerosene (aviation jet and marine fuel) and naphtha, Cielo Waste Solutions (OTCMKTS:CWSFF) has provided update on Aldersyde and Edmonton (Ft. Saskatchewan) facilities.
The company is focusing on Desulphurization at Aldersyde facility, continuous designed production of 24,000 liters per day at the facility as well as development of the firm’s new 100% owned Edmonton (Ft. Saskatchewan) facility.
The desulfurization equipment commenced arriving at the facility in May 2021, which is needed for reducing sulphur content to below 15 parts per million. The company has also retained several engineers and University of Calgary’s engineering department for working with its team for completion of the initiative. Once completed, the company hopes to have high-quality diesel product with less than 15 ppm.
Cielo also announced that the Aldersyde plant is producing diesel from the distillate storage tank in June 2021 and it commenced distillate from wood waste in July.
Cielo also announced appointment of Gregg Gegunde as Chief Operating Officer. Gegunde has more than 26 years experience in energy sector with diverse executive and technical leadership skills.
With extensive experience in asset development, production operations, joint ventures, environmental and health & safety, he retired as Senior Vice President of Exploitation, Production and Delivery at Penn West Petroleum. Don Allan, President and CEO of Cielo said that the company continues to bring in qualified individuals to its senior management team.
