VANCOUVER, BC
and CALGARY, AB,
April 15,
2024 /CNW/ - Northstar Clean Technologies Inc. (TSXV:
ROOF) (OTCQB: ROOOF) ("Northstar" or the "Company") is pleased to
announce that it has received C$1,340,722 from the Government of
Alberta's TIER Fund through
Emissions Reduction Alberta ("ERA") following the approval of the
Company's formal submission related to the first milestone for the
non-repayable project-level government grant.
This payment is the first of four funding
milestones for the planned asphalt shingle reprocessing facility in
Calgary, Alberta (the "Empower
Calgary Facility") as part of the executed Contribution Agreement
of up to C$7.088 million.
For more information on ERA and its proposed
Empower Calgary Facility funding, please see the Company's news
releases dated April 8, 2024 and
February 13, 2023 filed under its
profile on SEDAR+.
About Northstar
Northstar Clean Technologies Inc. is a Canadian
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) completion of the next
three ERA milestones; (ii) receipt by Northstar of the
remainder of ERA's milestone funding; 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 conflicts in Ukraine and Palestine 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/northstar-receives-c1-34-million-from-era-in-grant-funding-following-approval-of-first-milestone-302115860.html
SOURCE Northstar Clean Technologies Inc.