Northstar Reports Second Quarter 2025 Financial and Operating Results and Announces Upcoming Investor Conference Call
CALGARY, AB, Aug. 27, 2025 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV:ROOF) (OTCQB:ROOOF) ("Northstar" or the "Company") is pleased to announce our financial and operating results for the three and six month periods ended June 30, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's interim consolidated financial statements for the three and six months ended June 30, 2025 and the related management's discussion and analysis, which are available at www.sedarplus.ca or on the Company's website at www.northstarcleantech.com.
Q2 2025 Financial and Operational Highlights
The second quarter of 2025 witnessed many developments that advanced Northstar's business and value proposition forward, namely:
On April 7, 2025, Northstar announced the receipt of a second Canadian patent for its proprietary asphalt reprocessing technology, further solidifying its first-mover advantage in this segment of the waste-to-value industry. The patent is expected to remain in force until 2042. The second Canadian patent adds to two pre-existing patents filed in the United States and the prior Canadian patent filed in mid-2024. The patent portfolio is expected to continue expanding as operations progress both domestically and abroad;
On April 21, 2025, and, subsequent to quarter-end, on July 10, 2025, the Company made two significant announcements regarding completion of material commissioning objectives at the Calgary Empower Facility (the "Calgary Facility"). The April 21st press release announced successful completion of the commissioning of the Calgary Facility's water-based front-end process, delivering specification segregated aggregate. The July 10th press release announced the successful commissioning of the Calgary Facility's hydrocarbon-based back-end process which delivered high-quality asphalt product. Subsequent extensive lab and customer testing of this asphalt demonstrated that the product specification from the Calgary Facility exceeded both asphalt produced previously at the Delta Pilot and, more importantly, the specification levels required for shingle-oil feedstock. This high-specification product delivery underpins the Northstar business model and the Company is now focused on the next stage of development involving the ramp-up of the Calgary Facility production;
On May 5, 2025, Northstar announced that it successfully completed Milestone 2 pursuant to a contribution agreement (the "Contribution Agreement") with Emissions Reduction Alberta ("ERA"), receiving $3.9 million. Milestone 2 required a number of elements associated with completion of construction of the Calgary Facility. Remaining milestones under the Contribution Agreement include completion of commissioning efforts together with sustained operations at the Calgary Facility;
On May 20, 2025, Northstar announced the final draw under the Business Development Bank of Canada Project Loan Facility (the "BDC Loan") in the amount of $617,698. The BDC Loan will now fully amortize, with interest and principal payments over the next 13 years; and
On June 30, 2025, Northstar announced the receipt of 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. The LOI represents project financing where all security, covenants and debt servicing are directly attributable to the US Facility#1 itself. EDC may extend credit up to C$12.5 million per facility.
Financial Results
(CAD$, except per share amounts and common shares outstanding)
Three Months Ended June 30,
Six Months EndedJune 30,
2025
2024
2025
2024
