VANCOUVER, BC, Oct. 16, 2023 - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to announce that it has commenced detailed engineering design for its planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility"), alongside its engineering contractor BBA Engineering Ltd. ("BBA").
Detailed engineering design is an advanced level of engineering work to finalize the process, equipment, and specifications to be included in the Empower Calgary Facility.
As previously announced by the Company on May 30, 2023, the Company has completed all prerequisite milestones required to commence detailed engineering design. The Company also expects to begin procurement of long-lead equipment in the coming weeks. Following the completion of detailed engineering design, the Company will move into construction of the modules for the Empower Calgary Facility, which is fully funded and recently completed site development, as announced by the Company on September 27, 2023.
The detailed engineering design will include the following key deliverables:
As part of the detailed engineering design process, the project has completed initial detailed engineering design review with BBA, as well as a review by each of TAMKO Building Products LLC ("TAMKO") and McAsphalt Industries Inc., and certain other experts to ensure the design meets the requirements of all stakeholders and incorporates best practices.
Mr. Aidan Mills, President & CEO and Director of Northstar, stated "We are pleased to have commenced detailed engineering design for our Empower Calgary Facility. As soon as we closed the TAMKO strategic equity investment on July 31, 2023, we commenced the prerequisite work to begin detailed engineering design for the Empower Calgary Facility. We have now completed all the design preparation work, including an update to our front-end engineering design ("FEED"), to integrate of all the operational de-risking work carried out at the Empower Pilot Facility in Delta, British Columbia, along with customer and vendor feedback. Our detailed engineering design review with BBA, partners and industry experts was excellent and continues to give us confidence as we enter detailed engineering design, that we have developed a robust plant process to deliver our first commercial facility."
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 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, but are not limited to, statements concerning: (i) the ongoing development and completion of detailed engineering design for the Empower Calgary Facility; (ii) the ordering and delivery of long-lead equipment for the Empower Calgary Facility; (iii) the construction of modules for the Empower Calgary Facility; (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 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.