Northstar Exceeds 120 tpd Processing Rate and Completes Liquid Asphalt Sales to McAsphalt
Rhea-AI Summary
Northstar (OTCQB: ROOOF, TSXV: ROOF) reported June ramp-up progress at its Empower Calgary Facility. The plant exceeded an interim 100 tpd asphalt shingle processing target, with peaks above 120 tpd, moving toward ERA Milestone 4 and steady-state commercial production.
Northstar also completed multiple commercial deliveries of recovered liquid asphalt to McAsphalt, supporting validation of its product with commercial partners and informing engineering for future plants.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- Empower Calgary processing rate exceeded 120 tonnes per day peak in June
- Interim 100 tpd asphalt shingle processing target surpassed at Empower Calgary
- Progress toward achieving ERA Milestone 4 targeted for Q3
- Multiple commercial liquid asphalt deliveries completed to McAsphalt
- Operational optimizations to be incorporated into engineering for future plants
Negative
- None.
News Market Reaction – ROOOF
On the day this news was published, ROOOF gained 28.21%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
During June, Empower Calgary exceeded its interim processing target of 100 tonnes of asphalt shingles per day ("tpd"), with peak processing during the period exceeding 120tpd. This marks an important operational milestone as the Company closes in on ERA Milestone 4 and advances towards steady-state commercial production. The achievement reflects the performance of the debottlenecking optimizations made after the 80tpd achievement which will be incorporated into future facilities.
Northstar also completed multiple commercial deliveries of liquid asphalt to McAsphalt Industries Ltd. ("McAsphalt"), a wholly owned subsidiary of Colas Canada Inc., during June. While the Company is not disclosing specific shipment volumes, the deliveries represent ongoing sales of recovered liquid asphalt produced at Empower Calgary and support the continued validation of Northstar's liquid asphalt output from commercial partners.
"We are very pleased with the continued operational progress at our
About Northstar
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, limestone 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 four 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.
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 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: the Company's US expansion plans; timing and achievement of commercial production at the Empower Calgary Facility; the Company's strategic priorities, development plans and expected future activities; the Company's ability to execute its business plans; statements regarding potential sales under the ATM Program and the proceeds thereof; expectations relating to the timing and completion of sales under the ATM Program, if any, upon terms as presently proposed or at all; the anticipated duration of the ATM Program; and the use of proceeds raised pursuant to the ATM Program, if any.
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 favourable terms; regulatory approvals, filings or other requirements may impact the timing and terms of the Company's plans; 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.
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SOURCE Northstar Clean Technologies Inc.