Yahoo Finance Northstar Announces Completion of Milestones Required to Commence Detailed Engineering
VANCOUVER, BC, May 30, 2023 /CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce the completion of certain milestones required to commence detailed engineering for its planned asphalt shingle reprocessing scale-up facility in Calgary, Alberta (the "Empower Calgary Facility").
Mr. Aidan Mills, President & CEO and Director of Northstar, stated, "We are now set to move into detailed engineering for the Empower Calgary Facility. The production de-risking completed at our pilot facility in Delta, British Columbia (the "Empower Pilot Facility") has allowed us to identify opportunities for increased efficiencies, implement them and test in parallel; to complete vendor testing and verify production specification for asphalt; and to support McAsphalt in its blending and mixing studies to ensure our products can effectively enter McAsphalt's product portfolio."
McAsphalt Industries Inc. ("McAsphalt"), the Company's liquid asphalt off-take partner for the Empower Calgary Facility, continues to work with the Company to fully incorporate their expertise in storage, blending and load out facilities into the overall Facility detailed engineering.
The Company also identified opportunities for increased efficiencies during the operation of the Empower Pilot Facility in 2022. Using the leading R&D company Coanda, a subsidiary of Tectra Tech, a high-end global consulting and engineering firm, the Company has now completed the redesign to address the inefficiencies identified. The Company will now incorporate this redesign into the detailed engineering for the Empower Calgary Facility. In parallel, the Company will construct process equipment at the Empower Pilot Facility to determine the optimal operating parameters for the redesigned facilities. In line with the production de-risking already carried out at Delta, this will enable full operating conditions to be determined ahead of the commencement of operation at the Empower Calgary Facility.
Major equipment vendor design tests have also been successfully completed, with equipment now ready to complete the detailed design phase. This included final design testing of a major piece of equipment, with the test results verified by a number of major domestic and international asphalt shingle and flat roofing manufacturers previously mentioned in the Company's press release dated March 8, 2023.
About Northstar
Northstar Clean Technologies Inc. is a Canadian-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar has developed a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracting the liquid asphalt for use in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and 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 at both its Empower Pilot Facility in Delta, British Columbia and its first commercial scale up facility in Calgary, Alberta. As an emerging innovator in sustainable processing, Northstar's mission is to be the leader in the recovery and reprocessing of asphalt shingles in North America, extracting the recovered components from asphalt shingles that would otherwise be sent to landfill.
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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV 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, but are not limited to, statements concerning:(i) the anticipated development and building of the Empower Calgary Facility; (ii) the anticipated development and operations of the Empower Pilot Facility, and (iii) 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 as well as those risks and uncertainties which are more fully described under the heading "Risk Factors" in the final prospectus of the Company dated June 18, 2021 and 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. Further, the ongoing labour shortages, high energy costs, inflationary pressures, rising interest rates, the global financial climate and the conflict in Ukraine and surrounding regions are some additional factors that are affecting current economic conditions and increasing economic uncertainty, which may impact the Company's operating performance, financial position, and future prospects. Collectively, the potential impacts of this economic environment pose risks that are currently indescribable and immeasurable. Readers are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly, are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. These forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update these forward-looking statements.
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SOURCE Northstar Clean Technologies Inc.
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