In Canada, Cielo Waste Solutions Corp. has entered into a Memorandum of Understanding with Renewable U Lethbridge Inc. to build a renewable diesel refinery in the City of Lethbridge, Alberta. Renewable U LA and Cielo are now working towards entering into a joint venture agreement that will provide the framework to build and operate a joint venture refinery that converts garbage into high grade renewable fuels utilizing Cielo’s proprietary technology. Renewable U LA has advanced to Cielo $100,000 of the $250,000 joint venture fee to secure the territory of Lethbridge, Alberta and the area encompassing a 100km radius of Lethbridge. Renewable U LA has until August 26, 2019 to pay to Cielo the balance of the fee. In the event Renewable U LA fails to pay Cielo the balance of the fee, Cielo will return to Renewable U LA, the $100,000 advance and Renewable U LA will relinquish any and all rights to the LA Territory.
Category: Producer News