Northstar Receives First Truckload Of Asphalt Shingles At Empower Pilot Facility
VANCOUVER, BC, Nov. 17, 2022 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce the first collection of previously landfill bound asphalt shingles at the Company's asphalt shingle reprocessing facility in Delta, British Columbia ("Empower Pilot Facility").
While the Company has been producing saleable quantities of liquid asphalt for some time now from its on-site shingle inventory and having received its Brokering License from Metro Vancouver (as previously announced by the Company on August 3, 2022), the Company has now fully commissioned its digital weigh scale and is able to collect shingles. The processing of the first truck of asphalt shingles means the shingle collection process is operational. The Company expects to work with local partners to ramp up collection activities at the Empower Pilot Facility.
Mr. Aidan Mills, President & CEO and Director of Northstar, stated "This is an exciting milestone for Northstar and our stakeholders, as it marks the start of diverting discarded asphalt shingles from the Vancouver landfill to our Empower Pilot Facility, allowing them to enter the circular economy and reduce greenhouse gas emissions from liquid asphalt production. We will work with our industry partners to increase shingle collection at the Empower Pilot Facility. This is an important step for our business model, as it will mark our ability to collect tipping fees, an important revenue stream for the business."
Northstar Clean Technologies Inc. is a Canadian-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 for usage in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fiber for usage 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 at both its Empower Pilot Facility in Delta, British Columbia and its first commercial scale up facility in Calgary, Alberta. 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.
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" or similar expressions. Forward-looking statements in this press release include statements concerning: (i) Northstar's ability to collect asphalt shingles (ii) the ability to work with partners to collect increased quantities of shingles; and (iii) the ability to generate revenue from shingle collection. 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 as well as those risks and uncertainties which are more fully described under the heading "Risk Factors" in the final prospectus of the Company dated June 18, 2021 and 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. The ongoing dispute between the sovereign state of Ukraine and Russia also poses risks that are currently indescribable and immeasurable. 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 do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
SOURCE Northstar Clean Technologies Inc.
Northstar Investor Relations Inquiries: Kin Communications, Phone: 604 684 6730, Email: [email protected]
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