Latest news with #EmpowerCalgaryFacility
Yahoo
30-06-2025
- Business
- Yahoo
Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United States Asphalt Shingle Reprocessing Facilities
CALGARY, AB, June 30, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that after positive discussions, we received a non-binding Letter of Interest ("LOI") from Export Development Canada ("EDC") for EDC to provide potential financial support, subject to the successful completion of its due diligence process, for the Company's first planned shingle reprocessing facility in the United States ("US Facility#1") and subject to a number of conditions and outcomes, potential funding support for an additional three Northstar processing facilities in the United States. Similar to the non-revolving secured debt facility outstanding with the Business Development Bank of Canada ("BDC") associated with the Company's Empower Calgary Facility, the LOI represents project financing where the security package, financial covenants and debt servicing requirements are directly attributable to the US Facility#1 itself. The LOI stipulates EDC to maintain a first ranking, or senior secured position, on the underlying assets with the ability to co-lend with other debt providers. EDC could extend credit up to C$12.5 million. Financial and reporting covenants, guarantees and pricing would apply and will be finalized as part of ongoing discussions. EDC due diligence will require, among other matters, sufficient comfort on the commercialization of the Empower Calgary Facility, which is nearing commissioning completion, completion support for US Facility#1 involving cost overrun protections, and equity contributions from one or more parties prior to any draws under an EDC debt facility. "While still early days, we are very encouraged by EDC's interest to potentially provide financial support for our growth aspirations in the United States," stated Aidan Mills, President & CEO. "The United States represents a significant market for Northstar and we continue to advance site selection, permitting and securing long-term supply agreements, for a number of US locations. These efforts are in line with our existing liquid asphalt off-take arrangements for the first four facilities in the United States with TAMKO Building Products LLC. Our international growth objectives align seamlessly with EDC's mandate and we look forward to a long and prosperous partnership." "The LOI from EDC could ultimately lead to a foundational funding vehicle for Northstar's US capital strategy," commented Greg Phaneuf, VP Corporate Development & CFO. "Northstar's business model lends itself to prudent leverage to materially reduce our project cost of capital, thereby enhancing returns for our shareholders. We look forward to working with EDC to crystallize funding terms as part of our larger growth capital initiatives." 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 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 For further information about Northstar, please visit On Behalf of the Board of Directors,Aidan MillsPresident & 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", "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) EDC to potentially provide financial support for the Company's first US located facility in addition to a further three US located facilities, (iii) EDC to fund up to C$12.5 million on the first US located facility; (iv) efforts with respect US site selection, permitting and securing long-term supply agreements; (v) anticipated completion of the Empower Calgary Facility; (vi) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America; and (vii) future capital raising opportunities and commitments. 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; changes in business plans and strategies of the Company; the Company may require additional financing which may not be obtainable or on favourable terms; risk inherent to any capital financing transactions; 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. View original content to download multimedia: SOURCE Northstar Clean Technologies Inc. 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Cision Canada
30-06-2025
- Business
- Cision Canada
Northstar Announces Receipt of Letter of Interest on Potential Funding for up to Four United States Asphalt Shingle Reprocessing Facilities
CALGARY, AB, June 30, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (" Northstar" or the " Company") is pleased to announce that after positive discussions, we received a non-binding Letter of Interest (" LOI") from Export Development Canada (" EDC") for EDC to provide potential financial support, subject to the successful completion of its due diligence process, for the Company's first planned shingle reprocessing facility in the United States (" US Facility#1") and subject to a number of conditions and outcomes, potential funding support for an additional three Northstar processing facilities in the United States. Similar to the non-revolving secured debt facility outstanding with the Business Development Bank of Canada (" BDC") associated with the Company's Empower Calgary Facility, the LOI represents project financing where the security package, financial covenants and debt servicing requirements are directly attributable to the US Facility#1 itself. The LOI stipulates EDC to maintain a first ranking, or senior secured position, on the underlying assets with the ability to co-lend with other debt providers. EDC could extend credit up to C$12.5 million. Financial and reporting covenants, guarantees and pricing would apply and will be finalized as part of ongoing discussions. EDC due diligence will require, among other matters, sufficient comfort on the commercialization of the Empower Calgary Facility, which is nearing commissioning completion, completion support for US Facility#1 involving cost overrun protections, and equity contributions from one or more parties prior to any draws under an EDC debt facility. "While still early days, we are very encouraged by EDC's interest to potentially provide financial support for our growth aspirations in the United States," stated Aidan Mills, President & CEO. "The United States represents a significant market for Northstar and we continue to advance site selection, permitting and securing long-term supply agreements, for a number of US locations. These efforts are in line with our existing liquid asphalt off-take arrangements for the first four facilities in the United States with TAMKO Building Products LLC. Our international growth objectives align seamlessly with EDC's mandate and we look forward to a long and prosperous partnership." "The LOI from EDC could ultimately lead to a foundational funding vehicle for Northstar's US capital strategy," commented Greg Phaneuf, VP Corporate Development & CFO. "Northstar's business model lends itself to prudent leverage to materially reduce our project cost of capital, thereby enhancing returns for our shareholders. We look forward to working with EDC to crystallize funding terms as part of our larger growth capital initiatives." 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 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 For further information about Northstar, please visit 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", "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) EDC to potentially provide financial support for the Company's first US located facility in addition to a further three US located facilities, (iii) EDC to fund up to C$12.5 million on the first US located facility; (iv) efforts with respect US site selection, permitting and securing long-term supply agreements; (v) anticipated completion of the Empower Calgary Facility; (vi) Northstar's ability to become a leader in the recovery and reprocessing of asphalt shingles in North America; and (vii) future capital raising opportunities and commitments. 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; changes in business plans and strategies of the Company; the Company may require additional financing which may not be obtainable or on favourable terms; risk inherent to any capital financing transactions; 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.
Cision Canada
05-05-2025
- Business
- Cision Canada
Northstar Completes Emission Reduction Alberta Construction Milestone and Receives $3.9 Million
CALGARY, AB, May 5, 2025 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) (" Northstar" or the " Company") is pleased to announce that it successfully completed Milestone 2 requirements stipulated in the Emission Reduction Alberta (" ERA") contribution agreement and received the resulting milestone payment totaling $3.9 million. Milestone 2 criteria required Northstar to demonstrate a number of elements with respect to the Empower Environmental Solutions Calgary Facility (the " Empower Calgary Facility") including: Completion of all major procurement activities, other than final performance payments to vendors; All major processing equipment delivered; All major equipment installed and electrified; Implementation of the Green House Gas, Measurement and Monitoring Verification plan during construction for tracking during Milestones 3 and 4; and Substantial completion of construction as defined in the Builder's Lien Act. All of these elements have been reviewed and completed as part of the ERA due diligence process to verify completion of Milestone 2. The resulting $3.9 million funding from ERA brings receipts to date from ERA to $5.2 million. Approximately $1.9 million remains outstanding under the ERA grant, upon attainment of commissioning and operational milestones. The funding under Milestone 2 materially reimburses Northstar for construction expenditures for the Empower Calgary Facility. Taken together with other funding initiatives, the Empower Calgary Facility has been fully funded and leaves suitable working capital for the Company to advance expansion opportunities in Canada and the United States. Commissioning efforts at the Empower Calgary Facility are well underway and proceeding as planned. "Our experience with ERA has been nothing short of a great partnership," commented Aidan Mills, Northstar President & CEO. "We sincerely appreciate the support from ERA as we look to become a leading entity in the waste to value industry. With the ERA support, construction completion represents a significant milestone at our Calgary facility. All our partners can take pride in creating a new industry that enhances the economy, creates employment opportunities, and importantly delivers environmental benefits in a circular economy." "The real demonstration of successful investments comes when the projects we fund are commercialized and deployed in the market," stated Justin Reimer, CEO Emissions Reduction Alberta. "We are excited for Northstar's completion of the major construction elements of their project and the opportunity to reduce environmental impacts through the reprocessing of waste asphalt shingles. They are not only diverting waste from landfills, but also providing the construction industry with clean, sustainable processing solutions." 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 For further information about Northstar, please visit 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: (i) Northstar's plans to reprocess used shingles into their component parts in the inaugural commercial facility in Calgary; (ii) status of commissioning efforts at the Empower Calgary Facility and ability to receive further amounts under the ERA grant; (iii) sufficient working capital to advance future expansion efforts; (iv) benefits of Northstar's business model to the overall economy and the environment; and (v) 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, 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 do not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.
