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Northstar Clean Technologies Inc. (TSXV: ROOF,OTC:ROOOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to provide an operational update on the continued ramp-up of its Empower Calgary Facility ("Empower Calgary" or the "Facility") during the month of June.
During June, Empower Calgary exceeded its interim processing target of 100 tonnes of asphalt shingles per day ("tpd"), with peak processing during the period exceeding 120tpd. This marks an important operational milestone as the Company closes in on ERA Milestone 4 and advances towards steady-state commercial production. The achievement reflects the performance of the debottlenecking optimizations made after the 80tpd achievement which will be incorporated into future facilities.
Northstar also completed multiple commercial deliveries of liquid asphalt to McAsphalt Industries Ltd. ("McAsphalt"), a wholly owned subsidiary of Colas Canada Inc., during June. While the Company is not disclosing specific shipment volumes, the deliveries represent ongoing sales of recovered liquid asphalt produced at Empower Calgary and support the continued validation of Northstar's liquid asphalt output from commercial partners.
"We are very pleased with the continued operational progress at our Calgary facility. Both the production increases and commercial product sales mark important milestones in the development of the Company," said Aidan Mills, CEO of Northstar. "The core IP is working well, and the debottlenecking adjustments have put us in a strong position to achieve ERA Milestone 4 during Q3. All system improvements are being incorporated into final engineering for the next plants, and we look forward to sharing more information regarding planned growth in Q3."
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: the Company's US expansion plans; timing and achievement of commercial production at the Empower Calgary Facility; the Company's strategic priorities, development plans and expected future activities; the Company's ability to execute its business plans; statements regarding potential sales under the ATM Program and the proceeds thereof; expectations relating to the timing and completion of sales under the ATM Program, if any, upon terms as presently proposed or at all; the anticipated duration of the ATM Program; and the use of proceeds raised pursuant to the ATM Program, if any.
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.
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