CVW CleanTech Announces Full Year 2024 Results
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) reported its financial results for fiscal year 2024. The company completed a $14.0 million royalty financing transaction with Northstar Clean Technologies, generating $435,000 in revenue. This was funded through an upsized $16.8 million brokered private placement.
Key financial metrics include:
- Cash position of $5.2 million as of December 31, 2024
- Net loss of $3.9 million ($0.03 per share)
The company has built a substantial royalty pipeline valued at over $550 million in potential transactions, with 45+ opportunities under evaluation across hydrocarbons, materials and metals, and agriculture sectors. Northstar's Calgary facility construction is substantially complete, with commissioning expected to finish by Q2-end and commercial operations starting in 2025.
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) ha riportato i risultati finanziari per l'anno fiscale 2024. L'azienda ha completato una operazione di finanziamento tramite royalty da 14,0 milioni di dollari con Northstar Clean Technologies, generando un ricavo di 435.000 dollari. Questo è stato finanziato attraverso un collocamento privato intermediato ampliato da 16,8 milioni di dollari.
I principali indicatori finanziari includono:
- Posizione di cassa di 5,2 milioni di dollari al 31 dicembre 2024
- Perdita netta di 3,9 milioni di dollari (0,03 dollari per azione)
L'azienda ha sviluppato un consistente portafoglio di royalty valutato oltre 550 milioni di dollari in potenziali operazioni, con più di 45 opportunità in valutazione nei settori degli idrocarburi, materiali e metalli, e agricoltura. La costruzione dell'impianto di Northstar a Calgary è sostanzialmente completata, con la messa in servizio prevista entro la fine del secondo trimestre e l'avvio delle operazioni commerciali nel 2025.
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) informó sus resultados financieros para el año fiscal 2024. La empresa completó una transacción de financiamiento mediante regalías por 14,0 millones de dólares con Northstar Clean Technologies, generando ingresos por 435,000 dólares. Esto se financió a través de una colocación privada intermediada ampliada por 16,8 millones de dólares.
Los principales indicadores financieros incluyen:
- Posición de efectivo de 5,2 millones de dólares al 31 de diciembre de 2024
- Pérdida neta de 3,9 millones de dólares (0,03 dólares por acción)
La empresa ha construido una sólida cartera de regalías valorada en más de 550 millones de dólares en transacciones potenciales, con más de 45 oportunidades en evaluación en los sectores de hidrocarburos, materiales y metales, y agricultura. La construcción de la planta de Northstar en Calgary está prácticamente terminada, con la puesta en marcha prevista para finales del segundo trimestre y el inicio de operaciones comerciales en 2025.
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF)는 2024 회계연도 재무 결과를 발표했습니다. 회사는 Northstar Clean Technologies와 함께 1,400만 달러 규모의 로열티 금융 거래를 완료하여 43만 5천 달러의 수익을 창출했습니다. 이는 1,680만 달러 규모의 중개인 주도 사모 발행 확대를 통해 자금을 조달했습니다.
주요 재무 지표는 다음과 같습니다:
- 2024년 12월 31일 기준 현금 보유액 520만 달러
- 순손실 390만 달러 (주당 0.03 달러)
회사는 5억 5천만 달러 이상의 잠재 거래 가치가 있는 상당한 로열티 파이프라인을 구축했으며, 탄화수소, 재료 및 금속, 농업 분야에서 45건 이상의 기회를 평가 중입니다. Northstar의 캘거리 시설 건설은 거의 완료되었으며, 2분기 말까지 시운전이 완료되고 2025년에 상업 운영이 시작될 예정입니다.
CVW CleanTech Inc. (TSXV : CVW) (OTCQX : CVWFF) a publié ses résultats financiers pour l'exercice 2024. La société a finalisé une opération de financement par redevances de 14,0 millions de dollars avec Northstar Clean Technologies, générant un revenu de 435 000 dollars. Ce financement a été réalisé via un placement privé intermédié augmenté de 16,8 millions de dollars.
Les principaux indicateurs financiers sont :
- Trésorerie de 5,2 millions de dollars au 31 décembre 2024
- Perte nette de 3,9 millions de dollars (0,03 dollar par action)
La société a constitué un important portefeuille de redevances évalué à plus de 550 millions de dollars en transactions potentielles, avec plus de 45 opportunités en cours d’évaluation dans les secteurs des hydrocarbures, des matériaux et métaux, et de l’agriculture. La construction de l’installation de Northstar à Calgary est quasiment terminée, la mise en service est prévue d’ici la fin du deuxième trimestre, et les opérations commerciales débuteront en 2025.
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) meldete seine Finanzergebnisse für das Geschäftsjahr 2024. Das Unternehmen schloss eine 14,0 Millionen US-Dollar umfassende Lizenzfinanzierung mit Northstar Clean Technologies ab, wodurch Einnahmen in Höhe von 435.000 US-Dollar erzielt wurden. Dies wurde durch eine aufgestockte 16,8 Millionen US-Dollar Broker-Private-Platzierung finanziert.
Wichtige Finanzkennzahlen umfassen:
- Barbestand von 5,2 Millionen US-Dollar zum 31. Dezember 2024
- Nettoverlust von 3,9 Millionen US-Dollar (0,03 US-Dollar je Aktie)
Das Unternehmen hat eine umfangreiche Lizenzpipeline mit einem potenziellen Transaktionswert von über 550 Millionen US-Dollar aufgebaut, mit über 45 laufenden Bewertungen in den Bereichen Kohlenwasserstoffe, Materialien und Metalle sowie Landwirtschaft. Der Bau der Northstar-Anlage in Calgary ist weitgehend abgeschlossen, die Inbetriebnahme wird bis Ende des zweiten Quartals erwartet, und der kommerzielle Betrieb soll 2025 beginnen.
- Secured $14.0M royalty financing deal with Northstar, generating $435,000 in revenue
- Successfully raised $16.8M through upsized private placement
- Strong cash position of $5.2M as of December 31, 2024
- Built substantial royalty pipeline valued at over $550M with 45+ opportunities
- Reported net loss of $3.9M for fiscal year 2024
Calgary, Alberta--(Newsfile Corp. - April 23, 2025) - CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) (the "Company" or "CVW CleanTech") today announced its operating and financial results for the year ended December 31, 2024. For complete details, please refer to the fiscal year 2024 Annual Audited Financial Statements and associated Management's Discussion and Analysis, available on SEDAR+ or on the Company's website www.CVWCleanTech.com.
Highlights
- During the year, the Company completed its first royalty financing transaction in the amount of
$14.0 million with Northstar Clean Technologies Inc. ("Northstar"). The Company recognized$435,000 in revenue during the year from this royalty transaction. - The royalty transaction was financed by a brokered private placement initially announced at
$15.0 million and subsequently upsized to$16.8 million . - Cash on hand as at December 31, 2024 was
$5.2 million . Throughout 2024, the Company demonstrated prudent cash management, focusing resources on key deliverables to advance its royalty strategy including commercial opportunities for its proprietary Creating Value From Waste™ ("CVW™") technology. - Net loss for the year ended December 31, 2024 was
$3.9 million and the net loss per share was$0.03 (basic and diluted) for the same period.
The commissioning of Northstar's Calgary facility is progressing well. The plant has substantially completed construction and the first section of the plant has been commissioned, with commissioning currently underway on the remaining sections of the plant. Initial activities have displayed the effectiveness of Northstar's process as shingles have been successfully ground to specification and are moving to the first section of the plant for processing. Northstar expects commissioning of the remaining units to be completed by the end of the second quarter. The project remains on track to begin commercial operations in 2025.
"This past year was a transformational year for the business as we developed our royalty strategy and completed our first proof-of-concept transaction with Northstar. We are also encouraged by the progress at Northstar's Calgary facility consistent with our expectations," said Akshay Dubey, CEO of CVW CleanTech. "This progress brings us closer to generating value for our shareholders through the royalty financing deployed during the year."
CVW CleanTech has developed a strong royalty pipeline currently valued at over
"At the same time, we continue to relentlessly pursue the advancement of our proprietary Creating Value From Waste™ technology. We are encouraged by recent discussions with stakeholders, and are focused on ensuring commercial scale deployment moves ahead to deliver value to all stakeholders including the Company's shareholders," said Mr. Dubey.
About CVW CleanTech Inc.
CVW CleanTech invests in innovative technologies which provide returns linked to commodities and which operate in a sustainable manner to help accelerate the world's transition to net zero. CVW CleanTech is building a portfolio of royalty-based cash flow streams by partnering with clean technology innovators in the commodity space. CVW CleanTech is also the
Additional information on CVW™ can be found within the Process and Technology Overview which is accessible using the link below:
https://cvwtechnology.com/technology/process-and-technology-overview/
CVW CleanTech trades on the TSX Venture Exchange under the symbol "CVW" and is available on the OTCQX under the symbol "CVWFF".
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information within the meaning of applicable Canadian securities laws (collectively, "forward-looking information") that reflect the current expectations of management about the future results, performance, achievements, prospects, or opportunities for CVW CleanTech.
Forward-Looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. The forward-looking statements may include statements regarding the anticipated benefits of the adoption and commercialization of CVW™ technology, the chemical, material, financial, economic, operational, environmental and any other anticipated results of the adoption thereof, potential diversification strategies and the implementation and results thereof, expectations regarding future development, funding (including necessity, sources, and expected structure of the same) and contracted work, expectation as to the timeline on which any goals of the Company will be met, expectations regarding the key economic and policy drivers supporting the adoption of CVW CleanTech's technology, expectations regarding synergies or alignments between the business of the Company and any other organization, CVW CleanTech's research and development and commercialization plans, the advantages of the Company's technology, the Company's ongoing engagement with stakeholders, including business development activities, the development of networks with strategic partners, and the development of Company's relationships with Indigenous communities and any potential benefits for the same, potential financing opportunities, including grant and financing opportunities from applicable government programs and non-governmental organizations, and entering into funding agreements related thereto, any expected next steps for the Company, timelines, strategic plans, the scope of any activities that will be undertaken, the closing of the Transaction and Offering on the terms described previously or at all, the Company's future liquidity situation and the market prices of commodities or other statements that are not statement of fact. Forward-Looking statements are statements about the future and are inherently uncertain, and actual achievements of the Company may differ materially from those reflected in forward-looking statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above, investors should not place undue reliance on forward-looking statements. Important factors that could cause actual results to differ materially from the Company's expectations include: uncertainties involved in disputes and litigation, fluctuations in interest rates, commodity prices and currency exchange rates; changes in the availability, and cost, of technical labour required for the success of the Company's products and services; price escalation and/or inflationary pressures affecting the cost of equipment and material required to commercialize the same; the uncertainty of estimates of capital and operating costs; the need to obtain additional financing and uncertainty as to the availability and terms of future financing; the impact on the Company of increasing inflation; any change in government policy, programs, and funding opportunities, whether provincial, national, or international which could negatively affect the Company, and any failure of the same to continue to evolve in accordance with Company's expectations; any change in capital or commodity markets, whether generally or particularly in the clean technology sector, which could cause or compel the Company to adjust its goals, reallocate capital, and/or pursue alternative financing options; and other risks and uncertainties disclosed in other information released by the Company from time to time and filed with the appropriate regulatory agencies.
All forward-looking statements are based on the Company's beliefs and assumptions which are based on information available at the time these assumptions are made. The Company has made the following assumptions in relation to the forward-looking statements in this press release: the expected environmental and economic benefits to be achieved from CVW™ technology; the ability of the Company to successfully access various government funding programs; the details of government funding programs and that such programs will be implemented (and not change) as expected; that the Company will continue to be able to protect its intellectual property; assumptions as to various market and commercial opportunities for the Company and its technology; and the ability of the Company to continue to develop and commercialize its technology; that market conditions will not change adversely so as to prevent the closing of the Transaction and Offering on the terms previously described or at all. The forward-looking statements contained herein are as of the date set out above and are subject to change after this date, and the Company assumes no obligation to publicly update or revise the statements to reflect new events or circumstances, except as may be required pursuant to applicable laws.
Although management believes that the expectations represented by such forward-looking information or statements are reasonable, there is significant risk that the forward-looking information or statements may not be achieved, and the underlying assumptions thereto will not prove to be accurate. Actual results or events could differ materially from the plans, intentions and expectations expressed or implied in any forward-looking information or statements, including the underlying assumptions thereto, as a result of numerous risks, uncertainties and factors including: failure to obtain regulatory approvals; the possibility that opportunities will arise that require more cash than the Company has or can reasonably obtain; dependence on key personnel; dependence on corporate collaborations; potential delays; uncertainties related to early stage of technology and product development; uncertainties as to fluctuation of the stock market; uncertainties as to future expense levels and the possibility of unanticipated costs or expenses or cost overruns; and other risks and uncertainties which may not be described herein.
For further information, please contact:
| Akshay Dubey | Joshua Grant |
| CEO 403.460.8135 | CFO 403.460.8135 |
| Akshay.Dubey@CVWCleanTech.com | Joshua.Grant@CVWCleanTech.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/249464
FAQ
What is the current value of CVW CleanTech's (CVWFF) royalty pipeline in 2024?
How much revenue did CVWFF generate from the Northstar royalty transaction in 2024?
What was CVW CleanTech's (CVWFF) net loss per share in fiscal year 2024?
When is Northstar's Calgary facility expected to begin commercial operations?
