VANCOUVER, BC, Nov. 1, 2023
/CNW/ - Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB:
ROOOF) ("Northstar" or the "Company") is pleased to announce that
it has recently placed orders for three major pieces of equipment
identified as long-lead items for its planned asphalt shingle
reprocessing facility in Calgary,
Alberta (the "Empower Calgary Facility"). The items will be
manufactured off-site and will be delivered to Calgary as skid-mounted pieces of equipment.
The total value of the orders placed is approximately C$3.3 million and represents a significant
portion of the major equipment spend for the Empower Calgary
Facility. The ordered items have been identified as the longest
lead delivery items, and as such placing the orders now is expected
to help ensure project timelines are maintained.
These three items have been part of the overall vendor
engagement and pilot plant testing assessment process carried out
at the Company's pilot facility in Delta,
British Columbia over the past 18 months. The remaining
equipment will be included as part of the standard procurement
process, following the detailed engineering design phase of the
project for the Empower Calgary Facility.
Mr. Aidan Mills, President &
CEO and Director of Northstar, stated, "With the Empower Calgary
Facility fully funded, we have been able to move forward with
several critical initiatives for advancement of the Empower Calgary
Facility towards commencing construction. As recently announced, we
have commenced detailed engineering design with our partners and we
are now happy to announce that we have placed orders for three
long-lead items that are integral to the project. These long-lead
items are a meaningful portion of the capital cost of the Empower
Calgary Facility, with Northstar spending approximately
C$3.3 million in total on these
items."
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 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 development and building of the
Empower Calgary Facility; (ii) the timely delivery and manufacture
of the long-lead equipment ordered for the Empower Calgary
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.