Receipt of Empower Pilot Facility Brokering License Allows Northstar to Source Asphalt Shingle Supply and Generate Revenue from Tipping Fees
VANCOUVER, BC, Aug. 3, 2022 /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 Ltd. ("Empower") has received its brokering license (the "Brokering License") from Metro Vancouver. The Brokering License allows Empower to handle recyclable material, specifically asphalt shingles, at its facility in Delta, British Columbia (the "Empower Pilot Facility"), and to collect 'tipping fees' on the deposit of "end of life" or "post consumer" asphalt shingles.
Aidan Mills, President & CEO and Director of Northstar, states, "This is an important step for Northstar and our Empower Pilot Facility. We are pleased to receive our Brokering License from Metro Vancouver, which allows us to begin collecting discarded asphalt shingles and charging tipping fees at our Empower Pilot Facility. We receive numerous ongoing enquiries from potential customers, municipalities, and manufacturers on our ability to collect shingles – and the award of this license enables that to be fully realized. This lays the platform for us to contribute to assisting Metro Vancouver in its quest towards zero waste by 2040(1), by providing a diversion alternative for single-use asphalt shingles that would otherwise be discarded in landfill. We believe we are strongly positioned to become a national solution to the burgeoning problem of asphalt shingle waste."
As of August 2, 2022, tipping fees for construction and demolition waste at the Vancouver landfill located in Delta, British Columbia, are approximately C$130 per tonne(2). The Vancouver Landfill is approximately 9 kilometres from the Company's Empower Pilot Facility and approximately 30 kilometres from downtown Vancouver.
Sales Strategy for Collection of Asphalt Shingles
With the Brokering License issued, the Company plans to now begin collecting shingles from waste hauling companies and roofing contractors. Tipping fees charged to customers will depend on volume and term of shingle supply. The Company is also sourcing additional shingles from manufacturers who have shingles that do not meet specification requirements and would otherwise be deposited in landfills. The Company has also received numerous inbound inquiries from other municipal jurisdictions regarding the possible reprocessing of their asphalt shingle supply at the Empower Pilot Facility. Based on a 2012 report, the City of Vancouver has an estimated annual supply of 70,000 tonnes of asphalt shingles(3). The Company currently has an internally estimated stockpile onsite at its Empower Pilot Facility of approximately 10,000 tonnes.
Source: Kane Consulting, Market Analysis of Used Building Materials in Metro Vancouver, Metro Vancouver (February 2012).
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 usage in new hot mix asphalt, shingle manufacturing and asphalt flat roof systems, and aggregate and fiber for usage 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,
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 statements concerning the Company's plans to collect shingles and tipping fees. Forward‐looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking information. Such risks and uncertainties include, but are not limited to, factors discussed under "Risk Factors" in the final prospectus of the Company dated June 18, 2021. 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.
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