Northstar Clean Technologies Validates Technology that Converts Used Shingles to "Green Asphalt"

Northstar Clean Technologies Validates Technology that Converts Used Shingles to "Green Asphalt"

(TheNewswire)

Northstar Clean Technologies Inc. care of GlobalStockNews

February 22, 2022 - TheNewswire - V ancouver , BC - Global Stocks News - Northstar Clean Technologies (TSXV:ROOF) (OTC:ROOOF) is a clean technology company focused on the recovery and repurposing of single-use asphalt shingles to produce liquid asphalt, fibre and sands while diverting shingle waste from landfills.

The company has a fully constructed facility in Delta, BC and is gaining steam on its commercialization phase.

On February 17, 2022, Northstar announced that it has initiated steady state production at its reprocessing facility (Empower Pilot Facility) in Delta.

"A steady state implies that the System State is independent of its initial start-up conditions," reports the International Journal of Development Research , "providing top management with a clear picture of how to make their production line more effective."

"This announcement proves to the market that our technology works and validates our business model," states Northstar CEO Aidan Mills, "as we set out to scale up this technology to a facility size that we can expand with across the North American market."

ROOF's business model anticipates four revenue streams:  1. tipping fees (paid by waste haulers and roofing contractors), 2.  Sale of Asphalt, 3. Sale of Fiber and 4. Sale of Aggregate.  The sale of carbon credits would add a 5 th revenue stream.


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The operation validates the use of Northstar's proprietary Bitumen Extraction & Separation Technology (BEST) in the foundational design of the Company's future "scale up" facilities.

Current Production Profile:

  • Liquid asphalt and aggregate precisely meet ROOF's end product specification objectives

  • Ramping up to steady state production provides a clear roadmap to deliver commercial production of 50-75 tonnes-per-day

  • Provides production samples to industry partners and potential customers for detailed technical analysis

  • Currently reprocessing large on-site asphalt shingle inventory

"One of the critical metrics for any energy transition, ESG-based, clean technology company is demonstrating that its transformational technology actually works," stated Mills, "For Northstar to do that, we need to produce the end products from our facility at the specification we expected, in a repeatable manner."

"The Empower Pilot Facility is not only producing exactly the end products we planned, but we have also initiated the production plan to do that repeatably," added Mills.

The Circular Economy is a hot investing theme partly because it inverts the typical regulatory headwinds into powerful tail winds.

Northstar can approach government agencies with the value proposition: "Our technology can help you keep the promises you made to voters , and on the world stage ."


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"An increasing number of investors are incorporating their values into their long-term investing strategies through the lens of environmental, social and governance concerns, or ESG investing," reports US News.

"An estimated $120 billion poured into sustainable investments in 2021, doubling the $51.1 billion captured by ESG funds in 2020 and setting a new consecutive annual record. And this upward trend is set to continue," confirmed Goby.

Participating the Circular Economy is a meaningful way for a society to reduce its carbon footprint.


"The global context for reducing industry carbon footprints is forcing companies to identify alternative renewable avenues," explained Mills, "With the reduced carbon footprint solution for repurposing asphalt shingles, we believe we can support our customers and industry partners on their sustainability journey."

On November 9, 2021, Northstar announced the results of the independent carbon dioxide footprint Life-Cycle Assessment (LCA), completed by Burgess Environmental Ltd.

Key Take-Aways from LCA:

  • Confirms ROOF's Empower Facility is a "circular", renewable industry solution with lower carbon dioxide emissions

  • Net estimated greenhouse gas (GHG) emission savings of 121.94 kg of carbon dioxide equivalent per 1 tonne of feedstock , through diverting shingles from landfills and replacing virgin production asphalt production from the Empower Facility.

  • Net estimated carbon dioxide emission savings in the range of 1,500,000 kg to 3,000,000 kg of carbon dioxide equivalent per year dependent on steady state production volume

"Demand for asphalt binder in North America is currently highest for interstate highways and roofing," states an October, 2021 Liquid Asphalt Research Report prepared by Kin Communications , "Shingles made from asphalt serve one purpose which is to be used for the roofing of structures."

"Because these shingles are petroleum based, they are not eco-friendly and their production wastes energy in addition to exacerbating the emission of greenhouse gases," continues the research report.

"The LCA analysis quantifies how our operations can support our customers and industry partners in delivering circular and "green" renewable asphalt produced with significantly lower carbon intensity," stated Mills.


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February 17, 2022 Empower Pilot Facility Operational Update:

Steady state production is expected to deliver throughput of asphalt shingles in the range of 10-20 tonnes-per-day up to 4-5 days per week.  The objective is to demonstrate repeatable production in terms of safety, quality, and duration.

The two primary output products (liquid asphalt and aggregate) are being produced exactly as designed, meeting ROOF's end product specifications.

Northstar is delivering samples of its "green asphalt" and aggregate to multiple major road construction companies, shingle manufacturers, and other industry stakeholders.

ROOF has a clear roadmap for commercial production levels targeted at 50-75 tonnes-per-day.

Northstar believes that each future facility could divert ~40,000 tonnes of shingles each year.

12 million tons of asphalt shingles are sent to landfills annually in North America, equivalent to an entire day of US oil production.

It would require 300 facilities in North America to divert and re-purpose all the asphalt shingles currently going into landfills.

Since its IPO 7 months ago, ROOF has raised $12.3 million , began small batch production , engaged Wellington Dupont to liaise with governments, began modular design , proved carbon reduction , hired a Sustainability Officer and has initiated steady state production.

"New companies often struggle to generate meaningful news while they incubate their technology," stated Global Stocks News CEO Guy Bennett, "In seven months of trading, Northstar has hit a series of milestones – including steady state production - that move them significantly closer to commercialisation."

In February and March 2022 Northstar will host Empower Facility visits for industry stakeholders, investors, media, and government agencies to demonstrate its operating process and technology.

Full Disclaimer

Contact: guy.bennett@globalstocksnews.com

Copyright (c) 2022 TheNewswire - All rights reserved.

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Northstar Announces Mailing of Management Information Circular, Date and Details of Annual General & Special Meeting and Announces Details of Long-term Incentive Plan

Northstar Announces Mailing of Management Information Circular, Date and Details of Annual General & Special Meeting and Announces Details of Long-term Incentive Plan

Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that it has scheduled its Annual General and Special Meeting of Shareholders (the "Meeting") for Thursday, July 28, 2022 at 11:00 am PST ( 2:00 pm EST ). The Meeting will be held at the Company's Delta office at 7046 Brown Street, Delta, BC V4G 1G8. The Company also announces that it has filed its management information circular and proxy (the "Meeting Materials") for the Meeting on SEDAR. The Meeting Materials are also available for download from the Company's website.

Northstar Clean Technologies Inc. logo (CNW Group/Northstar Clean Technologies Inc.)

The information circular in the Meeting Materials proposes the re-election of six directors for the ensuing year, the reappointment of the Company's auditors, and the approval of the Company's 2022 Equity Incentive Plan, including the approval of a 10% rolling plan for stock options and a fixed plan of 6,500,000 common shares for awards of restricted share units ("RSUs"), performance share units ("PSUs") and deferred share units ("DSUs").

As always, the Company encourages its shareholders to vote prior to the Meeting. All proxies submitted must be received by July 26, 2022 . Your vote is important regardless of the number of common shares you own. As a Northstar shareholder, it is very important that you carefully read the Meeting Materials and vote your common shares. Shareholders may vote online, by telephone, by mail, or by any other methods listed in the form of proxy or voting instruction form included with the Meeting Materials.

Long-Term Incentive Plan

Pursuant to the Company's Long-Term Performance Incentive Plan, the Company announces that it has issued an aggregate of 355,925 RSUs and 3,559,278 PSUs to officers and key employees of the Company. The RSUs and PSUs will vest as to one-third on each of June 23, 2023 , March 31, 2024 , and March 31, 2025 . Each RSU and PSU represents the right to receive, once vested, one common share in the capital of the Company. The number of shares earned upon the vesting of the PSUs will be determined by the performance of each individual and will be subject to approval by the Board of Directors. The Company also announces it has granted an aggregate of 260,854 stock options to directors, officers, and employees at an exercise price of $0.35 per share for a five-year term. All options vest as to one-third on each of March 31, 2023 , 2024, and 2025.

About Northstar

Northstar Clean Technologies Inc. is a Vancouver -based 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, aggregate and fiber for usage in new hot mix asphalt, 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 Empower Pilot Facility in Delta, British Columbia . 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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/northstar-announces-mailing-of-management-information-circular-date-and-details-of-annual-general--special-meeting-and-announces-details-of-long-term-incentive-plan-301579244.html

SOURCE Northstar Clean Technologies Inc.

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Northstar Reports First Quarter 2022 Financial Results And Announces Details Of Virtual Investor Webcast

Northstar Reports First Quarter 2022 Financial Results And Announces Details Of Virtual Investor Webcast

Highlights

  • $3.9 million in cash as of March 31, 2022
  • Working capital surplus of $3.7 million as of March 31, 2022 compared to a working capital surplus of $5.5 million as of December 31, 2021
  • Completed Calgary FEED study results: total capital cost estimate of $11.75 million which includes a $2.0 million contingency
  • Announced project economics including $7.6 million in estimated annual revenue per facility (1) , $4.9 million in estimated annual gross profit per facility (1) , and $4.0 million in potential annual EBITDA per facility (1)(2 and identified six areas of potential upside

Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that today it has filed its first quarter 2022 financial statements and management's discussion and analysis ("MD&A") on SEDAR for the 3 months ended March 31, 2022 . These documents are also available on the Company's website at www.northstarcleantech.com . The Company has scheduled a virtual investor webcast to discuss these financial results and to provide a business update to the investment community on Tuesday, May 31, 2022 at 5:30 am PST 8:30 am EST . Details are provided below.

News Provided by Canada Newswire via QuoteMedia

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NORTHSTAR'S CALGARY SCALE UP ASPHALT SHINGLE REPROCESSING FACILITY FOUND TO REDUCE CARBON DIOXIDE EQUIVALENT  EMISSIONS BY 60%

NORTHSTAR'S CALGARY SCALE UP ASPHALT SHINGLE REPROCESSING FACILITY FOUND TO REDUCE CARBON DIOXIDE EQUIVALENT EMISSIONS BY 60%

Independent life cycle assessment of Northstar's Calgary scale up facility confirms carbon dioxide equivalent emissions benefits vs. landfilling asphalt shingles and use of virgin materials

Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce the positive results of a second independent carbon dioxide equivalent ("CO 2 e") life cycle assessment ("LCA") completed by Burgess Environmental Ltd. ("Burgess") for selected performance indicators for Northstar's planned scale up asphalt shingle reprocessing facility in Calgary, Alberta ("Calgary Empower Facility"). The LCA is based on sophisticated modeling from the front-end engineering design ("FEED") completed by BBA Inc. ("BBA"), Northstar's engineering consultant, on March 25, 2022 . The LCA assessed the impacts and benefits of reprocessing asphalt shingles and compared them to the impacts and benefits related to the disposal of discarded or defective asphalt shingles in landfills and virgin production of asphalt shingles.

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Northstar Announces 2021 Financial Results and Details of Virtual Investor Webcast

Northstar Announces 2021 Financial Results and Details of Virtual Investor Webcast

Financial Highlights

  • $6.0 million in cash as at December 31, 2021
  • Total assets increased by $7.5 million while total liabilities increased by $0.6 million compared to December 31, 2020
  • Working capital surplus of $5.5 million compared to a working capital deficit of $0.06 million compared to December 31, 2020

Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that today it has filed its audited annual financial statements and management's discussion and analysis ("MD&A") on SEDAR for the year ended December 31, 2021 . These documents are also available on the Company's website at www.northstarcleantech.com . The Company has scheduled a virtual investor webcast to discuss these financial results and to provide a business update to the investment community on Thursday, April 28, 2022 at 2:00 pm PST 5:00 pm EST . Details are provided below.

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Northstar to Present at 2022 Asphalt Roofing Manufacturers Association Spring Committee & Board Meeting Series in Kansas City

Northstar to Present at 2022 Asphalt Roofing Manufacturers Association Spring Committee & Board Meeting Series in Kansas City

Northstar Clean Technologies Inc. (TSXV: ROOF), (OTCQB: ROOOF) ("Northstar" or the "Company") has announced that it will be presenting at the 2022 Asphalt Roofing Manufacturers Association ("ARMA") Spring Committee & Board Meeting Series. The Company's presentation "Repurposing Asphalt Roofing Materials" will highlight the Company's important contribution to the fight against landfill waste. The presentation is scheduled for April 26, 2022 at 8:30 am Central Time . Speaking at this event from Northstar will be the following:

Northstar Clean Technologies Inc. logo (CNW Group/Northstar Clean Technologies Inc.)

  • Aidan Mills , President & CEO, Director
  • Gord Johnson, Co-Founder, Director, President of Empower
  • Kellie Johnston , Chief Sustainability Officer

The 2022 ARMA meetings are being held in person in Kansas City, Missouri , from April 25-28, 2022 , and will also be made available virtually for those who are unable to attend in person.

About ARMA

The Asphalt Roofing Manufacturers Association (ARMA) is a trade association representing North America's asphalt roofing manufacturing companies and their raw material suppliers. The association includes the majority of North American manufacturers of asphalt shingles and asphalt low slope roof membrane systems. Information that ARMA gathers on modern asphalt roofing materials and practices is provided to building and code officials, as well as regulatory agencies and allied trade groups. Committed to advances in the asphalt roofing industry, ARMA is proud of the role it plays in promoting asphalt roofing to those in the building industry and to the public.

For more information about ARMA and the 2022 Spring Committee & Board Meeting Series, visit www.asphaltroofing.org .

About Northstar

Northstar Clean Technologies Inc. is a Vancouver -based 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, aggregate and fiber for usage in new hot mix asphalt, 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 Empower Pilot Facility in Delta, British Columbia . 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

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.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/northstar-to-present-at-2022-asphalt-roofing-manufacturers-association-spring-committee--board-meeting-series-in-kansas-city-301522370.html

SOURCE Northstar Clean Technologies Inc.

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