Cielo secures $1.48 million in financing, aims to accelerate wood-to-diesel projects in Alberta

Cielo Waste Solutions has secured an additional $1.48 million through its latest round of financing.

With the financial injection from the second tranche of its ongoing private placement offering, Cielo aims to accelerate the front-end engineering and design of the Carseland and Dunmore Projects in Alberta, it said, transforming wood byproducts into low-carbon Bio-SynDiesel.

It  anticipates using the net proceeds of the Private Placement for the continued advancement of its renewable fuel projects, namely the wood byproduct to Bio-SynDiesel Project in Carseland, Alta., which is currently undergoing front-end engineering and design, and the railway tie to Bio-Syndiesel project in Dunmore, Alta., as well as general working capital and corporate growth purposes.

The Carseland Project will be situated adjacent to an existing synthetic fuel facility owned and operated by Rocky Mountain Clean Fuels Inc., which deploys patented technology developed by Expander Energy Inc., it said.

The company noted that it does not use food as feedstock as it focuses on its “exclusive license in Canada for patented Enhanced Biomass to Liquids (EBTL) and Biomass Gas to Liquids (BGTL) technologies and related intellectual property, along with an exclusive license in the US for creosote and treated wood waste, including abundant railway tie feedstock.”