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Ecolomondo Engages Craft Capital Management As Its Strategic Investment Banking Advisor
Thenewswire· 2026-02-17 14:00
Core Viewpoint - Ecolomondo Corporation has engaged Craft Capital Management as its strategic investment banking advisor to support its capital markets strategy and facilitate its planned uplisting to NASDAQ, aiming to enhance its global growth strategy in sustainable scrap tire recycling technology [1][2][3] Company Overview - Ecolomondo Corporation is a Canadian cleantech company focused on its proprietary Thermal Decomposition Process (TDP) technology, which recovers high-value commodities from scrap tire waste, including recovered carbon black (rCB), tire-derived oil (TDO), syngas, fiber, and steel [4] - The company aims to be a leading producer and reseller of recovered resources by building and operating TDP facilities strategically located in industrialized countries [10] Financial Strategy - Craft Capital's mandate includes supporting Ecolomondo's financing initiatives and facilitating its uplisting to NASDAQ, which is expected to provide access to necessary capital for executing its growth strategy [2][3] - Revenue streams from TDP facilities will come from the sale of end-products such as rCB, oil, steel, and syngas, as well as tipping fees for processing scrap tires [5] Facility Developments - The Hawkesbury facility is expected to process approximately 1.3M to 1.5M scrap tires per year, producing around 4,000 MT of rCB, 5,000 MT of pyrolysis oil, 2,000 MT of steel, and 1,200 MT of process gas [7] - The Shamrock facility is projected to process 5 million end-of-life tires per year, yielding approximately 15,000 MT of rCB, 18,000 MT of oil, 7,500 MT of steel, and 4,500 MT of syngas, with construction expected to begin in Q3 2025 at a projected cost of approximately US$93 million [8] Environmental Impact - The TDP process is environmentally friendly, reducing greenhouse gas emissions by 90% compared to the production of virgin carbon black, with the Hawkesbury and Shamrock facilities expected to reduce CO2 emissions by 15,000 and 45,000 tons per year, respectively [15]
Crombie REIT Announces Second Quarter 2025 Results and Distribution Increase
Newsfile· 2025-08-06 21:03
Core Insights - Crombie Real Estate Investment Trust reported strong second quarter results for 2025, highlighting operational excellence and disciplined capital management, which led to significant growth in funds from operations (FFO) and an increase in distributions to unitholders [2][3][4] Operational Highlights - Committed occupancy reached 97.2%, with economic occupancy at 96.4%, reflecting increases of 80 basis points and 50 basis points, respectively, compared to the same quarter in 2024 [7] - Renewals of 270,000 square feet were completed at rents 10.8% above expiring rates, with a weighted average rent increase of 11.9% for the renewal term [12] - The company acquired four grocery-anchored retail properties totaling 146,000 square feet for $21.205 million and a parcel of land for development valued at $11.5 million [7] Financial Highlights - Property revenue increased by 6.4% to $123.774 million compared to $116.361 million in Q2 2024 [8] - FFO per Unit rose to $0.34, a 6.3% increase from $0.32 in the previous year, while AFFO per Unit increased by 7.1% to $0.30 [8][14] - The company achieved a credit rating upgrade to BBB with a stable trend from Morningstar DBRS, previously rated BBB(low) with a positive trend [6] Distribution and Payout - Crombie announced an increase in annual distributions to $0.90 per Unit, effective for unitholders of record on August 31, 2025, reflecting a 1.12% increase from the previous rate [13][33] Portfolio Metrics - As of June 30, 2025, Crombie's portfolio included 306 properties with a gross leasable area of approximately 18.8 million square feet, including joint ventures [9][53] - The fair value of unencumbered investment properties was reported at $3.863 billion, up from $2.687 billion in June 2024 [22] Debt and Financial Condition - The debt to gross fair value ratio improved to 42.0%, down from 42.6% in the previous year, indicating a stronger balance sheet [22][46] - Available liquidity was reported at $677.655 million, a decrease of 4.1% from the previous year [22]