1. Northstar issued a follow-on patent for asphalt reprocessing technology. 2. The patent covers Stage 3 of their recovery process, effective until 2042. 3. Northstar plans to commence commercial production in mid-2025 in Calgary. 4. They received prior patents in Canada and the U.S. since 2022. 5. Northstar aims to lead sustainable asphalt shingle reprocessing across North America.
Patents enhance ROOOF's competitive edge, potentially increasing demand and valuation. Historical examples include companies gaining market share post-patent issuances.
The issuance of patents signifies innovation and sustainability, key growth drivers. Investors often view such developments as positive, impacting stock prices favorably.
The patent secures competitive advantage and sets the stage for future growth. Similar situations have shown sustained benefits for companies with solid patent portfolios.
/PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that it has been issued a follow-on patent (the "Patent") by the Canadian Intellectual Patent Office ("CIPO") for the Company's proprietary asphalt shingle reprocessing technology. The Patent relates to Stage 3 of the reprocessing technology, the asphalt recovery stage, and is expected to remain in force until 2042.
"As a clear first mover in this emerging industry, securing further patents for Northstar's reprocessing technology is a critical step in securing, reinforcing and sustaining our technological advantage," commented Aidan Mills, Northstar President & CEO. "The latest patent protects a key part of our recovery process at the heart of our business, just as we prepare to commence commercial production in mid-2025 at our Calgary facility, a significant milestone for the Company. With this additional Canadian patent to protect the core technology of the Company, and additional patents progressing in the US and other international jurisdictions, we are well-positioned to sustain our leading position as the industry continues to develop."
Northstar received its initial Canadian patent in July 2024 which followed two patents issued in the United States in November 2022 and May 2024. The Company continues to pursue patent protection for its proprietary asphalt shingle reprocessing technology in North America and other international jurisdictions.
Northstar is a Canadian clean 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 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 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.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
For further information about Northstar, please visit www.northstarcleantech.com.
On Behalf of the Board of Directors, Aidan Mills President & CEO, Director
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: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in Calgary, (ii) Northstar believes it to be a clear first mover in an emerging industry and possesses a technical advantage and ability to sustain a leading position, (iii) the Patent expected to remain in force until 2042, (iv) Northstar's expectation of imminent commercial operations from the Calgary facility; (v) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America, and (vi) Northstar's plans to file international patents. 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 favorable terms; 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.
SOURCE Northstar Clean Technologies Inc.