CMC(US:CMC) Globenewswire·2024-12-18 12:00Core Points - Cielo Waste Solutions Corp. is acquiring an Enhanced Gas to Liquids (EGTL) facility from Rocky Mountain Clean Fuels Inc. (RMCFI) to enhance its renewable fuel production capabilities [1][2] - RMCFI has secured a C$20.8 million grant through the Alberta Petrochemicals Incentive Program (APIP), which will be part of the assets in the transaction with Cielo [4][5] - The transaction is subject to approval from the TSX Venture Exchange and is currently undergoing due diligence [2][3] Company Developments - Cielo plans to build a gasifier adjacent to the EGTL facility to support the deployment of its Enhanced Biomass to Liquids (EBTL) technology, aiming to produce Bio-Syngas and Bio-Synfuels with near net-zero carbon intensity [2][4] - The APIP grant is expected to reduce the contingent nature of funding for the acquisition and minimize financing risks associated with the transaction [5][6] - Both companies are committed to expanding the facility and transitioning it to produce Bio-Synfuels, showcasing the flexibility of the EGTL technology in the energy transition [6]