VANCOUVER, British Columbia – August 17, 2021 – Northstar Clean Technologies Inc. (TSXV: ROOF) (“Northstar” or the “Company”) is pleased to announce that it has commenced a Request for Proposal (“RFP”) process with a select short-list of engineering firms to undertake a detailed engineering study for the Company’s first planned expansion facility in Canada. The Company plans to use the detailed engineering study to progress on a simplified, turn-key operational facility that has the potential to be quickly placed into production in municipalities across Canada and the United States.
Aidan Mills, CEO of Northstar, comments “We are creating a modular, turn-key solution to repurpose single-use asphalt shingles that are destined for landfills each year. We are proceeding well on the path to steady state production at our first facility. We see the potential to increase the capacity, efficiency and reliability of our proprietary process design technology and that is the reason why we are now commencing an RFP process with a select short-list of suitably qualified independent engineering firms. Through this RFP process, we believe we will secure a strong engineering partner, not only for the first modular facility design but also to support us as we move forward on additional expansion facilities. This engineering progress, combined with our market and government engagement, positions us well on our ambitious rollout program.”
The Company anticipates the RFPs to be received in the fall of 2021 and the engineering contract to be awarded in the fall of 2021.
Corporate Update
The Company is also in the process of conducting a detailed market analysis in order to identify potential site locations across Canada for its first expansion facility. Locations will be prioritized based on the following criteria: political engagement, municipal waste management programs, tipping fees of regional landfills, location of potential customers, land cost, corporate tax rates and logistics, among others. The Company is working alongside Wellington Dupont Public Affairs (“Wellington”) on this initiative. Wellington is supporting the Company’s federal, provincial and municipal engagement on the execution of Northstar's expansion plans across Canada and the United States, in addition to evaluating various potential non-dilutive funding strategies, including government grants, to support expansion plans.
The Empower Facility currently has an estimated stockpile of 20,000 tonnes of discarded asphalt shingles and waste shingle products from shingle manufacturers, which would otherwise be sent to a landfill.
The Company plans to continue to complete commissioning runs to steady state production anticipated in Q4 2021. To date commissioning has resulted in the successful separation of saleable end-use products of liquid asphalt, fiber, and aggregate otherwise headed for landfills. Most notably, testing of the liquid asphalt recovered from a third-party independent lab demonstrated the quality and penetration rate of the Company’s liquid asphalt product is well within the range of acceptability for sale to end-use customers.
Attendance at Capital Event Management (CEM) Banff Conference – August 20-22, 2021
Northstar also announces that Aidan Mills, CEO of the Company, will present at the CEM’s Banff Capital Conference, which takes place at the Fairmont Banff Springs in Banff, Alberta between August 20th and 22nd, 2021. The conference introduces growth-stage companies to active top-level capital investors and financial professionals through a day of scheduled one-on-one meetings and networking activities.
For further information about Northstar, please visit www.northstarcleantech.com. The Company’s final prospectus dated June 18, 2021, among other documents, is available on the Company’s profile page on SEDAR at www.sedar.com.
On Behalf of the Board of Directors,
Aidan Mills
Chief Executive Officer
Email: aidan@northstarcleantech.com
Investor Relations Inquiries:
Kin Communications
Phone: 604 684 6730
Email: ROOF@kincommunications.com
Follow Northstar on Social Media:
Twitter: @NStarCleanTech
LinkedIn: https://www.linkedin.com/company/northstarcleantech/
About Northstar
Northstar Clean Technologies Inc. is a Vancouver-based clean technology company focused on the recovery and repurposing of single-use 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 sands and fiber for usage in new hot mix asphalt, construction products and other industrial applications. Northstar plans to process used or defective asphalt shingle waste back into its three primary components for reuse/resale at its Empower Facility in Delta, British Columbia. Northstar’s mission is to be one of the leading shingle material recovery providers in North America, extracting 99% of the recovered components from asphalt shingles that would otherwise be sent to a landfill.
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, including statements with regards to the Request for Proposal (“RFP”) process, including the timing of that process and the uses to which the detailed studies can be put, its ability to secure a strong engineering partner, the potential for expansion facilities in Canada and the US, the Company’s ability to expand into those markets, and the expected environmental and economics benefits of the Company’s products, 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 information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, failure to satisfy all of the conditions to complete the Listing, and the factors discussed under “Risk Factors” in the final prospectus of the Company dated June 18, 2021. 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.
