Cielo Acquires CDL Biofuels Assets for $2.6M

Cielo Waste Solutions has closed its previously announced acquisition of proprietary project development and evaluation assets from CDL Biofuels, a subsidiary of Canadian Discovery. Cielo acquired the assets for total consideration of $2.6 million, issued as 17,333,333 Cielo common shares at a deemed price of $0.15 per share.

The acquired suite includes non-public databases, data sets, models, analytical tools, and related intellectual property for renewable and low-carbon fuels production. Cielo expects to integrate the assets into its Nexus Platform, an internal framework used to assess, design, and advance clean fuels projects.

The consideration shares carry a statutory hold period of four months and one day plus an additional contractual hold period of eight months, for an aggregate hold period of twelve months from closing.