Northstar Secures 15-Year Lease Extension for Delta, BC Facility

Rhea-AI Summary

Northstar Clean Technologies (TSXV: ROOF, OTCQB: ROOOF) has secured a 15-year lease extension for its Delta, British Columbia facility. The extended lease enables potential retrofit of the Empower Delta Facility, previously a pilot facility, into a commercial-scale operation.

The Delta site maintains all necessary regulatory approvals and permits for light industrial operations, offering future expansion opportunities with reduced permitting and development timelines and costs. The pilot operations at this facility successfully validated the technology and provided engineering foundation for the Empower Calgary Facility.

The company's immediate priority remains the commissioning and ramp-up of the Empower Calgary Facility, their first full-scale commercial facility currently in final commissioning phase. Additionally, Northstar is pursuing development plans for planned facilities in Hamilton, ON and the U.S. Mid-Atlantic region.

Positive

• 15-year lease extension secures long-term operational presence in Delta, BC
• Existing regulatory approvals and permits reduce future development costs and timelines
• First commercial-scale facility (Calgary) reaching final commissioning phase
• Geographic expansion progressing with planned facilities in Ontario and U.S. Mid-Atlantic

Negative

• Calgary facility not yet fully operational
• Capital requirements for Delta facility retrofit not disclosed

CALGARY, AB, March 31, 2025 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce the execution of a 15-year lease extension for its Delta, British Columbia location (the "Empower Delta Facility"), supporting the Company's long-term growth strategy to establish a portfolio of asphalt shingle reprocessing facilities across North America.

This lease extension gives Northstar the option to retrofit the Empower Delta Facility, formerly home to its pilot facility, into a commercial-scale operation. The site currently holds all necessary regulatory approvals and permits for light industrial operations, offering a future expansion opportunity with reduced timelines and costs associated with permitting and site development. Pilot operations successfully derisked the technology and served as the engineering foundation for the Empower Calgary Facility.

"Our primary focus remains the successful commissioning and ramp-up of the Empower Calgary Facility, which represents our first full-scale commercial facility and is currently in its final commissioning phase," said Aidan Mills, President & CEO. "The Delta lease extension adds flexibility to our portfolio, giving us the opportunity to retrofit the current facility and leverage the existing permitting and site in the future. It also complements our ongoing development plans, where our next priorities are the site development and permitting for our planned facilities in Hamilton, ON and the U.S. Mid-Atlantic region."

"This lease is another step forward in our portfolio strategy, allowing us to create long-term shareholder value through strategic facility planning and development," Mills added.

About Northstar

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

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" 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's view that all approvals and permits in place for Empower Delta Facility thereby saving time and costs associated with construction, (iii) Northstar's belief to grow a much larger enterprise; 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, 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; 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 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.

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SOURCE Northstar Clean Technologies Inc.

FAQ

What is the significance of Northstar's 15-year lease extension for ROOOF stock?

The lease extension provides long-term operational security and potential for commercial-scale expansion at the Delta facility, while maintaining existing permits and reducing future development costs.

How many facilities does Northstar (ROOOF) currently have under development?

Northstar has the Empower Calgary Facility in final commissioning, the Delta facility, and planned facilities in Hamilton, ON and the U.S. Mid-Atlantic region.

What is the current status of Northstar's (ROOOF) Empower Calgary Facility?

The Empower Calgary Facility, the company's first full-scale commercial facility, is currently in its final commissioning phase.

What advantages does the Delta facility lease extension offer ROOOF?

The extension allows for potential facility retrofit, utilizes existing permits, and reduces timeline and costs for future commercial-scale operations.