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NORTHSTAR CLEAN TECHN INC - ROOOF STOCK NEWS

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Northstar Clean Technologies Inc. (TSXV: ROOF) is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. The company has developed a proprietary design process to extract liquid asphalt from discarded shingles for use in various applications. With a mission to lead the recovery and reprocessing of asphalt shingles in North America, Northstar is committed to the circular economy by reprocessing asphalt shingle waste back into its primary components for reuse.

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Northstar Clean Technologies (TSXV: ROOF, OTCQB: ROOOF) announced significant updates on its project economics and funding strategy for the planned Empower Calgary Facility. The new figures indicate a potential annual revenue of $9.7 million, a 28% increase from the initial estimates released in April 2022. Additionally, the expected annual gross profit is projected at $6.4 million, reflecting a 31% increase, and potential EBITDA stands at $5.3 million, which is 33% higher than previously anticipated. The internal capital estimate for the facility has been revised to $15.0 million. The update highlights the company's progress in de-risking the facility's design and improving financial projections.

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Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) reported significant business advancements in its Q4 2022 update. A binding term sheet was executed for a 5-year off-take agreement with McAsphalt Industries for the entirety of liquid asphalt production from the Empower Calgary Facility. The company successfully filed its first patent for its innovative technology in asphalt shingle reprocessing. Additionally, Northstar signed a letter of intent with a major industrial customer for exclusive rights to purchase recycled asphalt. The company emphasized that 2023 will be pivotal as it moves toward constructing and financing the Empower Calgary Facility, backed by a projected $7.1 million government grant. The CEO highlighted the importance of securing non-dilutive funding to support the facility's development.

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Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) announced plans to file its annual financial statements and management's discussion and analysis (MD&A) for the year ended December 31, 2022, on April 20, 2023. These documents will be available on the Company's website. Additionally, a virtual investor webcast is scheduled for the same day at 2:00 PM PDT to discuss the financial results and provide a business update. Northstar focuses on sustainable recovery and reprocessing of asphalt shingles, aiming to lead in this sector across North America.

The company’s Empower Pilot Facility in Delta, BC, and commercial facility in Calgary, AB, are pivotal in its operations, aligning with a circular economy approach to reduce landfill waste.

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Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) has been awarded the Environmental Awareness Award by the Waste Management Association of BC on February 23, 2023. Co-Founder Gord Johnson accepted the award, recognizing Northstar's innovative technology for recycling asphalt shingles, which diverts materials from landfills. The company aims to lead in this sector within North America. Additionally, Northstar's President & CEO Aidan Mills will present at the Kinvestor Green Future 2023 Virtual Investor Conference on March 28, 2023, discussing their progress and future plans for the Empower Calgary Facility.

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Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) has disclosed the successful completion of R&D testing for its liquid asphalt by major shingle and flat roofing manufacturers. These manufacturers will initiate manufacturing and product testing in the first half of 2023, following positive results. Assuming success in this phase, Northstar anticipates entering negotiations for long-term liquid asphalt supply agreements. The company will continue production for this testing at its Empower Pilot Facility in Delta, British Columbia, with a focus on delivering test volumes until Q3 2023. CEO Aidan Mills expressed optimism about expanding markets for Northstar's liquid asphalt.

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Northstar Clean Technologies Inc. has signed a five-year offtake agreement with McAsphalt Industries Ltd. to exclusively sell 100% of liquid asphalt from the planned Empower Calgary Facility. This agreement follows a prior binding term sheet and aims to support McAsphalt's goal of reducing carbon emissions by 15,000 tonnes annually. The pricing structure will be based on a market formula, with additional provisions for risk management and collaboration on environmental credits. The agreement hinges on securing funding and permits for construction.

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Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) announced the closure of a non-brokered private placement of unsecured convertible debentures totaling $625,000. These debentures carry a 10% annual interest rate and mature in 36 months. Proceeds will fund the Empower Pilot Facility, Calgary Scale Up Facility, and general corporate purposes. The principal can convert into units at $0.25 each. Notably, an insider invested $50,000 in this offering, exempting it from certain regulatory requirements. Regulatory approval is pending, and securities are subject to a four-month hold.

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Northstar Clean Technologies has signed a 15-year lease for a 4-acre industrial site in Rocky View County, Alberta, with two 5-year extension options. This strategic location is 4.4km from the City of Calgary East Landfill, enabling easy access to necessary materials and transportation. All municipal permits for construction and operations have been secured, allowing site access starting July 1, 2023. This facility will serve as Northstar's first scale-up site for asphalt shingle recovery and processing, supporting its mission for a circular economy in asphalt recycling across Canada and the US.

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FAQ

What is the current stock price of NORTHSTAR CLEAN TECHN (ROOOF)?

The current stock price of NORTHSTAR CLEAN TECHN (ROOOF) is $0.24155 as of December 20, 2024.

What is the market cap of NORTHSTAR CLEAN TECHN (ROOOF)?

The market cap of NORTHSTAR CLEAN TECHN (ROOOF) is approximately 30.4M.

What is Northstar Clean Technologies Inc.?

Northstar Clean Technologies Inc. is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles.

What is the core business of Northstar?

The core business of Northstar is to extract liquid asphalt from discarded shingles for use in various applications.

What is Northstar's mission?

Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America.

What is Northstar's commitment to sustainability?

Northstar is committed to the circular economy by reprocessing asphalt shingle waste back into its primary components for reuse.

What are the primary components extracted by Northstar?

Northstar extracts liquid asphalt for use in new hot mix asphalt, shingle manufacturing, asphalt flat roof systems, and aggregate and fiber for construction products and industrial applications.

Where is Northstar's first commercial scale-up facility located?

Northstar's first commercial scale-up facility is located in Calgary, Alberta.

How can Northstar contribute to environmental conservation?

By reprocessing asphalt shingle waste, Northstar helps reduce landfill waste and promotes sustainable practices.

What recent achievements has Northstar announced?

Northstar has secured strategic partnerships, funding, and engineering design work to advance its operations.

What future plans does Northstar have?

Northstar plans to expand its operations to the United States and focus on the northeast market for asphalt shingle recovery and reprocessing.

NORTHSTAR CLEAN TECHN INC

OTC:ROOOF

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ROOOF Stock Data

30.44M
116.04M
9.51%
Waste Management
Industrials
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United States of America
Delta