NORTHSTAR REPORTS 2025 YEAR END FINANCIAL AND OPERATING RESULTS

Rhea-AI Summary

Northstar Clean Technologies (TSXV: ROOF / OTCQB: ROOOF) reported 2025 year-end results on April 29, 2026, covering operations to December 31, 2025. Revenue was $593,586 with gross profit of $93,439. The company reported a net loss of $14,751,864 and cash of $457,094 at year-end.

Operational milestones included commissioning the Empower Calgary facility, first commercial liquid asphalt sale to McAsphalt, an 80 tpd throughput milestone, a five-year City of Calgary supply contract, and subsequent financings totaling a US$10 million convertible debenture placement plus a $1.0 million debenture.

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Positive

• First commercial facility commissioned: Empower Calgary
• Achieved 80 tonnes per day shingle processing milestone
• First commercial sale of liquid asphalt to McAsphalt
• Closed US$10 million convertible debenture private placement in tranches

Negative

• Net loss widened to $14.75M in 2025 from $9.33M in 2024
• Year-end cash fell to $457,094 from $10.23M in 2024

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CALGARY, AB, April 29, 2026 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce its financial and operating results for the three- and twelve-month period ended December 31, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's December 31, 2025 financial statements and the related management's discussion and analysis, which are available for review at www.sedarplus.ca or the Company's website at www.northstarcleantech.com. 

"We view 2025 as a significant transitional year for Northstar, as we constructed and commissioned our first commercial facility, Empower Calgary," said Aidan Mills, President & CEO of Northstar. "This included the first production of liquid asphalt from post-consumer and manufactured waste shingles, achieving our first throughput milestone of 80 tpd, and the first sale of liquid asphalt to McAsphalt, an important step toward regular revenue generation. As expected of a first-of-its-kind commercial facility, this transition wasn't without challenges, but the strength of the team and underlying technology allowed us to meet these head on, and these learnings are directly informing our path toward stable, long-term production."

Q4 2025 Highlights

• October 2025: Northstar Achieves 80 Tonnes Per Day Shingle Processing Milestone at Empower Calgary Facility
• November 2025: Northstar Secures Five Year Contract with City of Calgary for Waste Asphalt Shingle Supply
• December 2025: Northstar Adds to Working Capital Reserves Via Several Initiatives
• December 2025: Northstar Announces First Sale of Liquid Asphalt to McAsphalt Industries

Highlights Subsequent to Q4 2025

• January 2026: Northstar Selects Baltimore, Maryland as First United States Expansion Location
• January 2026: Northstar Raises $1.0 Million in Debenture Proceeds
• February 2026: Northstar Extends Maturing Convertible Debentures
• March 2026: Northstar Announces US$10 Million Non-Binding Term Sheet
• March 2026: Northstar Closes US$9 Million First Tranche of US$10 Million Private Placement
• April 2026: Northstar Closes Final Tranche of US$10 Million Private Placement

Financial Results

For the year ended December 31, 2025, the Company reported revenue of $593,586 and gross profit of $93,439 compared to revenue of $640,569 and gross profit of $68,022 for the year ended December 31, 2024. The Company reported a net loss of $14,751,864 compared to a net loss $9,332,820 in the prior year, reflecting the transition from a development-stage company to an operating organization preparing for commercial production at the Empower Calgary facility. As at December 31, 2025, the Company had cash and cash equivalents of $457,094 (December 31, 2024 - $10,225,904). Subsequent to year-end, the Company strengthened its cash position through the completion of private placements of a $1 million debenture which closed in January 2026 and US$10 million of convertible debentures which closed in two tranches in March and April 2026.

About Northstar

Northstar is a Canadian waste to value technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate, limestone 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 four primary components for reuse/resale with its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission aims at leading the recovery and reprocessing of asphalt shingles in North America that would otherwise be sent to landfill addressing numerous stakeholder objectives.

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 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. The TSX Venture Exchange 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", "aim" or similar expressions. Forward-looking statements in this press release include statements concerning: (i) the Company's plans for its inaugural commercial facility in Calgary; (ii) the Company's strategic priorities, development plans and expected future activities; and (iii) the Company's ability to execute its business plans. 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; inability of the Company to execute on its business plans; the Company may require additional financing which may not be obtainable or on favourable terms; regulatory approvals, filings or other requirements may impact the timing and terms of the Company's plans; economic uncertainty; and the risks and uncertainties which are more fully described under the heading "Risk Factors" 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+. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. The Company does not undertake any obligation to update such forward‐looking information whether because of new information, future events or otherwise, except as expressly required by applicable law.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated, expected or aimed. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. The Company does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

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SOURCE Northstar Clean Technologies Inc.

FAQ

What were Northstar (ROOOF) full-year 2025 revenue and net loss figures?

Revenue for 2025 was $593,586 and the net loss was $14,751,864. According to the company, these reflect the transition to commercial operations at Empower Calgary and related operating costs.

What operational milestone did Northstar (ROOOF) reach at Empower Calgary in 2025?

Northstar achieved 80 tonnes per day shingle processing at Empower Calgary in October 2025. According to the company, this was the first throughput milestone toward stable commercial production.

What financing did Northstar (ROOOF) complete after year-end to strengthen cash?

Northstar closed a $1.0M debenture and a US$10M convertible debenture placement in tranches by April 2026. According to the company, these financings materially improved post-year-end cash resources.

Did Northstar (ROOOF) secure any supply contracts in 2025 that affect revenue potential?

Yes, Northstar signed a five-year contract with the City of Calgary for waste asphalt shingle supply in November 2025. According to the company, this provides a supply foundation for ongoing feedstock to Empower Calgary.

How much cash did Northstar (ROOOF) report at December 31, 2025 and how did it change after year-end?

Cash and equivalents were $457,094 at December 31, 2025, down from $10,225,904 in 2024. According to the company, subsequent financings including a $1.0M debenture and US$10M placement strengthened cash post-year-end.