CALGARY,
AB, Feb. 18, 2025 /CNW/ - Northstar Clean
Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar"
or the "Company") is pleased to announce that its
wholly-owned subsidiary, Empower Environmental Solutions Hamilton
Ltd. ("Empower Hamilton"),
has signed a non-binding letter of intent (the "LOI") with
YORK1 Environmental Waste Solutions Ltd. as general partner for and
on behalf of York1 Environmental Waste Solutions, LP
("YORK1"), related to the formation of a strategic alliance
for the supply of waste roofing shingles and for co-location of
complimentary facilities at the Company's planned facility in
southwestern Ontario (the
"Empower Hamilton Facility").
The LOI expires on December 31,
2025. The parties anticipate entering into a definitive
agreement by June 30, 2025. Empower
Hamilton initially anticipates
receiving up to 10,000 tonnes of asphalt shingles for reprocessing
per annum from YORK1 facilities with a mutual understanding for the
companies to increase the supply volume through time.
"We are thrilled to announce this strategic alliance with YORK1,
a key milestone in advancing our plans for the Empower Hamilton
Facility and additionally, a key step in our overall growth plans,"
said Aidan Mills, President &
CEO of Northstar. "Securing a reliable and consistent supply of
waste asphalt shingles is a critical step in ensuring the success
of our operations and our ability to make a significant
environmental impact in southern Ontario. We are excited to work with YORK1 to
create a scalable, sustainable solution for the reprocessing of
asphalt shingles."
About YORK1
YORK1 embraces the spirit of innovation and collaboration.
Headquartered in Mississauga,
Ontario, YORK1 is known as one of North America's most forward-thinking, and
innovative environmental companies, with a fully integrated
infrastructure division. YORK1 is proudly Canadian, with a diverse,
experienced workforce, and take pride in providing quality
solutions to complex challenges. Learn more about YORK1
at York1.com.
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)
the anticipated execution of a definitive shingle supply agreement
with YORK1; (ii) the anticipated development and building of the
Empower Hamilton Facility ; (iii) the ability to make an
environmental impact in Southern
Ontario and a sustainable asphalt shingle recycling
industry; 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/northstar-signs-waste-asphalt-shingle-supply-letter-of-intent-with-york1-for-northstars-empower-hamilton-facility-302378665.html
SOURCE Northstar Clean Technologies Inc.
