VANCOUVER, BC and CALGARY, AB, April 18, 2024 - Northstar Clean Technologies Inc. (TSXV: ROOF), (OTCQB: ROOOF) ("Northstar" or the "Company"), a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles, and Ecco Recycling & Energy Corporation ("Ecco Recycling"), a leading Calgary-based waste diversion provider, are pleased to announce that Ecco Recycling and Northstar, through its wholly-owned subsidiary Empower Environmental Solutions Calgary Ltd. (together with Ecco Recycling the "Parties", or each a "Party") have signed a binding three-year asphalt shingle supply agreement (the "Supply Agreement") for Northstar's planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility").
Under the terms of the Supply Agreement, Ecco Recycling will supply asphalt shingles from its current construction & demolition ("C&D") landfill in Calgary to Northstar's Empower Calgary Facility. The shingles will be reprocessed at Northstar's Empower Calgary Facility for an initial term of three years with mutual extension options.
In addition, the Parties are expected to carry out a landfill supply study to investigate the potential for Ecco Recycling to supply additional shingles from its landfill in Calgary. Ecco Recycling's C&D landfill currently has a resource of over 500,000 tonnes of asphalt shingles and Ecco Recycling is working with the City of Calgary and the Province of Alberta to develop a solution for the removal and repurposing of the C&D material currently deposited at its landfill.
Access to this resource, subject to detailed ongoing testing and rigorous specifications, has the potential to enable the Empower Calgary Facility to significantly increase processing throughput.
The Supply Agreement outlines the following:
The landfill supply study, which has been agreed via a non-binding term sheet, will be carried out through 2024 and 2025 with the potential, if successful, for incorporation into the Supply Agreement from 2026 onward.
Mr. Aidan Mills, President & CEO and Director of Northstar, stated, "With the Supply Agreement, Northstar has secured both all our required shingle commissioning volume for 2024 and a significant portion of our shingle supply operating volume from 2025 onward for our Empower Calgary Facility. In addition, the study to assess the potential supply from Ecco Recycling's C&D facility could be game changing, with the potential for the Empower Calgary Facility to operate with unlimited feedstock supply, if successful. We are therefore very excited to partner with Ecco Recycling on these initiatives for our first-of-its-kind asphalt shingle reprocessing facility in Greater Calgary. Ecco Recycling has been a long-standing C&D waste reprocessing provider for over 30 years for the City of Calgary and now we are finally able to provide Ecco Recycling with a circular economy option for asphalt shingles, a major contributor to not only Ecco Recycling's Calgary landfill, but also C&D waste globally."
Mr. Don Francis, President & COO of Ecco Recycling, stated, "We are excited to support Northstar on its plans for diverting asphalt shingle waste away from Calgary landfills. This is a great opportunity for our company as well, and we are excited to support Northstar's landfill diversion efforts. We believe in Northstar's long-term vision and we are happy to support circularity for the benefit of the environment."
About Ecco Recycling
Founded in 1992, Ecco Recycling & Energy Corporation is a Calgary-based company who continues to explore new methods, opportunity and technology for diverting materials from landfills for reuse in innovative commercial and industrial products. Ecco Recycling's overarching goal is to protect the environment through implementation of sound environmental practices, adherence to environmental legislation and diversion of materials for reuse into commercial and industrial products. Ecco Recycling's Materials Recycling Facility is one of the largest in North America with a well-equipped and highly mechanized system designed to facilitate sorting and processing of materials from commercial and industrial sources for reuse and recycling. Ecco Recycling has over 100 employees and processes over 450 trucks per day and an estimated 250,000 tons of material per year. For more information, please visit www.eccorecycling.com
About Northstar
Northstar Clean Technologies Inc. is a Canadian 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 completion of the Empower Calgary Facility; (ii) the ability of the Empower Calgary Facility to accept and reprocess the C&D waste asphalt shingles delivered by Ecco Recycling; (iii) the delivery of C&D waste asphalt shingles to the Empower Calgary Facility by Ecco Recycling; (iv) the ability of the Empower Calgary Facility to significantly increase processing throughput as a result of the C&D waste asphalt shingles delivered to the Empower Calgary Facility by Ecco Recycling; 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 conflicts in Ukraine and Palestine 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.
