Cielo Waste Solutions sells assets for $3.9 million amid strategic focus shift
- Cielo Waste Solutions Corp. has executed an asset purchase agreement to sell its TCD Assets and Aldersyde Property.
- The total purchase price for the assets is $3.9 million, which includes assumption of the existing mortgage loan.
- The transaction enables Cielo to focus on its Licensed Technologies to advance its BioSynfuels® business and enhance shareholder value.
In Canada, Cielo Waste Solutions Corp. has shifted its strategic focus towards its Licensed Technologies, which are more technologically advanced than the TCD Technology. On November 28, 2024, the company executed an asset purchase agreement with a private Alberta corporation to sell its TCD Assets and the Aldersyde Property, which had been previously inactive. This decision was made to eliminate a $2.6 million mortgage loan associated with the Aldersyde Property and to concentrate resources on more promising technologies. The agreement indicates a purchase price of $3.9 million, with specific payment terms that include cash payments, assumption of the mortgage loan by the purchaser, and later promissory note payments. Cielo plans to use the proceeds to further its development in the renewable fuels sector, aligning with its mission to lead in the wood by-product-to-fuels industry. The transaction represents a critical step for Cielo in advancing its business objectives and enhancing shareholder value, as it focuses on environmentally sustainable technologies that contribute positively to the market.