Ecolomondo Corporation (TSE:ECM) has released an update.
Ecolomondo Corporation, a cleantech firm focusing on recycling technology, reported a Q1 2024 loss of $1.53 million, attributed mainly to Hawkesbury facility’s operating expenses. The company’s interim financial statements show modest revenues and significant investments in the facility, including a $1.5 million loan from an entity under common control. Despite production ramp-up issues and delays in full commercialization, corrective actions are expected to resolve the throughput and particle size issues by Q3 2024.
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