Northstar Receives C$1.34 Million from ERA in Grant Funding Following Approval of First Milestone

Rhea-AI Summary

Northstar Clean Technologies Inc. receives C$1.34 million in grant funding from ERA after the approval of the first milestone for the Empower Calgary Facility. The total grant amount is up to C$7.088 million.

VANCOUVER, BC and CALGARY, AB, April 15, 2024 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that it has received C$1,340,722 from the Government of Alberta's TIER Fund through Emissions Reduction Alberta ("ERA") following the approval of the Company's formal submission related to the first milestone for the non-repayable project-level government grant.

This payment is the first of four funding milestones for the planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility") as part of the executed Contribution Agreement of up to C$7.088 million.

For more information on ERA and its proposed Empower Calgary Facility funding, please see the Company's news releases dated April 8, 2024 and February 13, 2023 filed under its profile on SEDAR+.

About Northstar

Northstar Clean Technologies Inc. is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fiber for use in construction products and other industrial applications. Focused on the circular economy, Northstar plans to reprocess used or defective asphalt shingle waste back into its three primary components for reuse/resale at its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America, extracting the recovered components from asphalt shingles that would otherwise be sent to landfill.

For further information about Northstar, please visit www.northstarcleantech.com. 

On Behalf of the Board of Directors,

Aidan Mills
President & CEO, Director

Cautionary Statement on Forward-Looking Information

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has neither approved nor disapproved the contents of this press release.

This press release may contain forward‐looking information within the meaning of applicable securities legislation, which forward‐looking information reflects the Company's current expectations regarding future events. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements concerning: (i) completion of the next three ERA milestones; (ii) receipt by Northstar of the remainder of ERA's milestone funding; and (iii) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company as well as those risks and uncertainties which are more fully described under the heading "Risk Factors" in the final prospectus of the Company dated June 18, 2021 and in the Company's annual and quarterly management's discussion and analysis and other filings with the Canadian securities regulatory authorities under the Company's profile on SEDAR. Further, the ongoing labour shortages, high energy costs, inflationary pressures, rising interest rates, the global financial climate and the conflicts in Ukraine and Palestine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update these forward-looking statements.

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SOURCE Northstar Clean Technologies Inc.

FAQ

How much grant funding did Northstar Clean Technologies Inc. receive from ERA?

Northstar Clean Technologies Inc. received C$1,340,722 in grant funding from ERA.

What is the total grant amount for the Empower Calgary Facility project?

The total grant amount for the Empower Calgary Facility project is up to C$7.088 million.

Who provided the grant funding to Northstar Clean Technologies Inc.?

The Government of Alberta's TIER Fund through Emissions Reduction Alberta (ERA) provided the grant funding to Northstar Clean Technologies Inc.

Where is the planned asphalt shingle reprocessing facility located?

The planned asphalt shingle reprocessing facility is located in Calgary, Alberta.

What is the name of the planned asphalt shingle reprocessing facility in Calgary, Alberta?

The planned asphalt shingle reprocessing facility in Calgary, Alberta is called the Empower Calgary Facility.