Company: Environmental waste international
Listings :TSXV , US OTC
Ticker: $EWS $YEWTF
Market cap at time of publication: $74 MCD
Stock price at time of publication: 0.30 CAD
Business: Tyre and waste recycling through reverse polymerization
TAM Market size: 158 billion $
Comparable peer : Scandinavian Enviro systems $SES
Website: https://www.ewi.ca/
Environmental Waste international has today (22/4 2021 ) announced that they have raised $1,233,000 million via a private placement of 4,110,000 Common Shares at $0.30 per share. There were no fees paid for the raise. Among the participants was the European partner Windspace. The European partner is expected to generate revenues of up to $100 million dollars in the next few years. Windspace , through its subsidiary Elysium, is currently constructing a facility that will treat 30,000 tons of ELT every year.
The company issued the following statement with the press release:
“We chose to raise a modest amount of working capital to accelerate the commercial-scale deployment of our proprietary technology. Our previously announced partnerships for development of plants in Canada and Europe are proceeding in a timely manner, so we feel it is prudent to expand our execution capabilities accordingly,” stated EWS CEO Bob MacBean
ESG comment: This is an extremely promising step that further strengthens the partnership between Windspace and EWI . EWI is on a path to a breakthrough year and currently has 5 planned facilities in Europe and Canada. It’s also very impressive that the financing was done without the need to pay any fees!
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