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  5. CMC: While Cielo seems to be getting its act together my take is that current work relates to pilot plant development and it will be some while yet before capacity, and revenues begin to emerge. [Cielo Waste Solutions Corp.]
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Q: While Cielo seems to be getting its act together my take is that current work relates to pilot plant development and it will be some while yet before capacity, and revenues begin to emerge. Do you have a time line that might be used to commit to a worthwhile investment and what product competition they could face roughly within that timeframe?

Asked by Mike on October 15, 2021
5i Research Answer:

CMC has noted 'the fabrication and construction phase of the R&D facility will commence by the end of Q1 2022'. But that is not commercial production. Dunmore was expected in 2023 but on the conf. call the company indicated this date is not 'set in stone'. Thus, it looks like it is still going to be a while for meaningful revenue. The competition question is harder to answer, but the delays of course give competitors a better leg-up.