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Northstar Clean Technologies Inc. (TSXV: ROOF,OTC:ROOOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that its asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility" or the "Facility") successfully reached its first major operational goal by processing over 80 tonnes of shingle feedstock per day. This processing threshold is a critical landmark for the Company and completes Milestone 3 for Emission Reduction Alberta's ("ERA") grant. In due course, the Company expects to receive over $700,000 from ERA associated with the delivery of this Milestone.
The Company now expects to move the Facility to steady-state commercial operations with product revenue generation expected in the following weeks.
"Processing over 80 tonnes per day in our first commercial shingle processing facility is a huge milestone for the Company," commented Aidan Mills, President & CEO. "This achievement demonstrates the de-risking of the technology and the move to product revenue generation, critical to validating Northstar as a compelling, waste-to-value company. The lessons learned to get to this point have provided tremendous insight both for the optimization of the Calgary process moving forward and the deployment of subsequent Northstar facilities. I'd like to acknowledge the Northstar team and our wide network of vendors, partners, and long-term shareholders who have all been a part of delivering this incredible achievement for the Company."
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 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 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.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
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
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 receipt of over $700,000 from ERA; (ii) moving the Calgary facility to steady-state operations and product revenue generation; (iii) validation of Northstar as a compelling, waste-to-value company; (iv) potential insight for the optimization of future Northstar facilities; and (v) 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; 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; 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 or expected. 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.
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.
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SOURCE Northstar Clean Technologies Inc.
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