Represents first revenue for the Empower
Calgary Facility
VANCOUVER, BC and CALGARY, AB, Jan. 18,
2024 /CNW/ - Northstar Clean Technologies Inc.
(TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is
pleased to announce that it has received the first delivery of
manufacturing waste shingles to its planned asphalt shingle
reprocessing facility in Calgary,
Alberta (the "Empower Calgary Facility"), as part of the
five-year supply agreement with IKO Industries Ltd. ("IKO"),
Canada's leading asphalt shingle
manufacturer. The IKO agreement was previously announced by the
Company on January 8, 2024.
The Company will be paid a tipping fee by IKO on a per tonne
basis for the waste shingles, thus representing the Company's first
revenue from the Empower Calgary Facility.
This first delivery from IKO is part of Northstar's broader 2024
shingle collection plan. Northstar will continue to work with other
shingle supply partners to collect sufficient volume for the
commissioning of the Empower Calgary Facility.
Mr. Aidan Mills, President &
CEO and Director of Northstar, stated, "This feedstock delivery,
the first of the year and the first of the five-year agreement with
IKO, is significant because it represents the first revenue for our
Empower Calgary Facility. We expect to continue receiving shingles
from IKO and other Calgary area
shingle supply sources as we gradually build up inventory for
commissioning and future processing for the Empower Calgary
Facility."
Caption: First delivery of IKO manufacturing waste shingles
(photo taken January 17,
2024)
Caption: First delivery of IKO manufacturing waste shingles
(photo taken January 17,
2024)
About IKO
IKO is a world-wide leader in the roofing, waterproofing and
insulation industry for residential and commercial markets. A
vertically integrated company, IKO operates more than 35
manufacturing plants throughout North
America and Europe. IKO is
a family-owned business established in 1951.
Copyright ©2018 IKO. All rights reserved. For media or
industry analyst support, please visit IKO's website at
http://www.iko.com. Follow IKO on:
LinkedIn | Pinterest | Houzz | YouTube | SlideShare
About Northstar
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 use in new hot mix asphalt,
shingle manufacturing and asphalt flat roof systems, and 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 at 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, but are not limited to,
statements concerning: (i) the building of the Empower Calgary
Facility; (ii) the ability of the Empower Calgary Facility to
accept and reprocess manufacturing waste asphalt shingles (iii) the
continued delivery of manufacturing waste asphalt shingles to the
Empower Calgary Facility; (iv) the payment of a tipping fee to
Northstar by IKO and other shingle suppliers; 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 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. Further, the
ongoing labour shortages, high energy costs, inflationary
pressures, rising interest rates, the global financial climate and
the conflict in Ukraine and
surrounding regions are some additional factors that are affecting
current economic conditions and increasing economic uncertainty,
which may impact the Company's operating performance, financial
position, and future prospects. Collectively, the potential impacts
of this economic environment pose risks that are currently
indescribable and immeasurable. Readers are cautioned that
forward-looking statements are not guarantees of future performance
or events and, accordingly, are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty of
such statements. These forward-looking statements are made as of
the date of this news release and, unless required by applicable
law, the Company assumes no obligation to update these
forward-looking statements.
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SOURCE Northstar Clean Technologies Inc.