1. Northstar completed construction of the Empower Calgary Facility, scheduled for operation mid-2025. 2. Partnered to supply roofing shingles for expansion, increasing operational capacity. 3. Received $3.9 million from Emissions Reduction Alberta for project milestones. 4. Secured a long-term lease for the Hamilton facility, vital for expansion. 5. Financial losses increased this quarter, but liquidity improvements noted.
The completion and upcoming operational start of the Calgary facility will likely boost revenue potential. This mirrors historical stock performance boosts following successful project completions.
The article outlines significant operational milestones and funding that enhance Northstar's growth outlook, which should positively shape investor sentiment.
While immediate impacts are positive, the benefits of expansion and new facilities will manifest over a longer timeline as operational capabilities increase.
/PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce our financial and operating results for the three-month period ended March 31, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2025 Condensed Interim Financial Statements and the related Management's Discussion and Analysis, which are available for review at www.sedarplus.ca or the Company's website at www.northstarcleantech.com.
The first quarter of 2025 witnessed a number of significant developments and achievements, together with a few key funding achievements subsequent to the quarter-end, namely:
(CAD$, except per share amounts and common shares outstanding)
| Three Months Ended Mar. 31 | FINANCIAL RESULTS | 2025 | 2024 |
|---|---|---|---|
| Loss and comprehensive loss | 2,949,917 | 1,581,578 | |
| Per share - basic and diluted | 0.02 | 0.01 | |
| Net cash flow used in operating activities | 2,338,652 | 1,201,168 | |
| Per share - basic and diluted | 0.02 | 0.01 | |
| Capital expenditures | 4,080,489 | 1,848,278 |
Northstar is a Canadian waste to value 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.
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", "objective" 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) operations to commence mid-year 2025; (iii) the ability of the Company to expand into other regions, namely Hamilton, Ontario and the United States; and (iv) 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.
For further information about Northstar, please visit www.northstarcleantech.com.
On Behalf of the Board of Directors, Aidan Mills, President & CEO, Director