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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.
Northstar Clean Technologies Inc. announced favorable results from an independent life cycle assessment (LCA) of its Calgary asphalt shingle reprocessing facility. The LCA confirms that the facility will produce 60% lower carbon dioxide equivalent (CO2e) emissions compared to traditional methods, with a potential annual reduction of 3,500 to 4,700 tonnes of CO2e. The facility aims to be a sustainable solution for asphalt shingle waste, contributing to the circular economy in North America.
Northstar Clean Technologies (OTCQB: ROOOF) announced its audited financial statements for the year ending December 31, 2021. The company reported a cash balance of $6.0 million and an increase in total assets by $7.5 million. Notably, Northstar switched from a working capital deficit of $0.06 million in 2020 to a surplus of $5.5 million. The completion of their Empower Pilot Facility has led to steady-state production, with a projected $7.6 million in annual revenue from the planned Calgary facility. A virtual investor webcast is scheduled for April 28, 2022.
Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) will present on "Repurposing Asphalt Roofing Materials" at the 2022 Asphalt Roofing Manufacturers Association Spring Meeting on April 26, 2022, at 8:30 am Central Time. The event takes place in Kansas City, Missouri, from April 25-28, 2022, also offering virtual participation. Key speakers include Aidan Mills, Gord Johnson, and Kellie Johnston. Northstar aims to combat landfill waste through the sustainable recovery of asphalt shingles, extracting reusable materials for the circular economy.
Northstar Clean Technologies Inc. has announced favorable economic prospects for its Calgary Empower Facility, projecting $7.6 million in potential annual revenue and $4.0 million in EBITDA per facility. The facility aims to process 34,200 tonnes of asphalt shingles annually, achieving a 65% gross margin. Key operational metrics include processing 15 tonnes per hour and 150 tonnes daily. The analysis suggests significant upside opportunities and highlights the facility's impact on landfill diversion, emphasizing the company's commitment to sustainability.
Northstar Clean Technologies has secured a non-dilutive grant of $200,000 from Alberta Innovates to support engineering costs for its Calgary asphalt shingle reprocessing facility. The total projected cost is $675,000. This grant marks the first funding in a series of applications aimed at expanding capacity. Northstar is positioned to repurpose significant waste from landfills into valuable products, aligning with governmental zero-waste initiatives. The company is also moving forward with its Empower Pilot Facility, producing sustainable asphalt through proprietary technology.
Northstar Clean Technologies Inc. has selected Calgary, Alberta, for its expanded-capacity asphalt shingle reprocessing facility, termed the Calgary Empower Facility. This facility, expected to process 150-200 tonnes per day, will significantly scale up operations from the current pilot facility's capacity of 50-75 tonnes per day. The construction is projected to begin in H1 2023, focusing on sustainability and reducing landfill waste. The facility aims to divert 30,000 to 50,000 tonnes of shingles annually, creating 10 to 15 new jobs in the process.
Northstar Clean Technologies Inc. (TSXV: ROOF, OTCQB: ROOOF) announced positive test results for its liquid asphalt and aggregate from an independent third-party facility. The tests confirmed that both products meet the company's specifications, produced from reprocessed asphalt shingles at its Delta, BC facility. The results indicate that Northstar's liquid asphalt is comparable to shingle and bulk roofing asphalt, requiring minor blending for full compliance. The company stated that these products support its commitment to quality and can re-enter manufacturing processes, aligning with its circular economy goals.
Northstar Clean Technologies has initiated steady state production at its Empower Pilot Facility in Delta, British Columbia, processing discarded asphalt shingles into green asphalt, fiber, and aggregate. This operation validates the proprietary Bitumen Extraction and Separation Technology (BEST) as a foundation for future scaling. The facility is set to produce 10-20 tonnes per day, ramping up to 50-75 tonnes for commercial production. Northstar is also showcasing its process to stakeholders through site visits in February and March 2022.
Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) announced that its shares are now trading on the OTCQB Venture Market in the U.S. under the ticker 'ROOOF'. This listing, along with eligibility for DTC services, aims to enhance the company's visibility among U.S. investors and improve liquidity for shareholders. The OTCQB listing aligns with Northstar's mission to recover and repurpose asphalt shingles, contributing to sustainable practices and reducing landfill waste. The company's Empower Facility in Delta, BC, will be pivotal in its operations.
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