19:32:30 EDT Sun 19 May 2024
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Northstar Clean Technologies Inc
Symbol ROOF
Shares Issued 126,710,381
Close 2024-04-23 C$ 0.185
Market Cap C$ 23,441,420
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Northstar Clean receives $100,000 grant from Alberta

2024-04-24 13:10 ET - News Release

Mr. Aidan Mills reports

NORTHSTAR RECEIVES SECOND GOVERNMENT GRANT OF $100,000 FROM ALBERTA INNOVATES FOR ENGINEERING COSTS OF EMPOWER CALGARY FACILITY

Upon completion of detailed engineering design for its planned asphalt shingle reprocessing facility in Calgary, Northstar Clean Technologies Inc. has received the second installment of $100,000 in grant funding from Alberta Innovates, a provincial Crown corporation and Alberta's largest research and innovation corporation.

The Company received approval in March 2022 for a non-repayable $200,000 grant for the direct engineering costs of the Calgary Empower Facility under Alberta Innovates' Bioenergy Program. The agreed milestones for the project under the joint Milestone Reporting and Payment Schedule ("MRP") were an award of $100,000 (the "First Tranche") upon completion of the Company's Front-End Engineering Design ("FEED") and a further $100,000 award on completion of detailed engineering design, which the Company has now completed and was announced on April 8, 2024. The First Tranche of $100,000 for the Company's FEED was awarded in March 2022 and the Second Tranche of $100,000 has now been awarded based on the successful completion of detailed engineering design for the Calgary Empower Facility.

Mr. Aidan Mills, President & CEO and Director of Northstar, stated, "Alberta Innovates was the first public organization to support Northstar - recognizing the potential of and providing funding for the engineering of our first-of-its-kind facility. Having now completed the detailed design phase of our Empower Calgary Facility, and having Alberta Innovates recognize this accomplishment with their second government grant is very complimentary to the Company. The support of Alberta Innovates has been very welcome, and we look forward to delivering our first commercial facility that merits their support."

About Alberta Innovates

Alberta Innovates is a provincial crown corporation that invests in research, innovation and entrepreneurship to drive provincial economic growth and diversity. We ignite the power of innovation through our work with researchers, industry and entrepreneurs to move Alberta to a lower-carbon future, promote the responsible use of land and water, and contribute to the improved health and well-being of Albertans. Alberta Innovates provides technical expertise, entrepreneurial advice and support, opportunities for partnerships, and funding to advance the best ideas. We support a broad range of research and innovation activity - from discovery to use. Collaboration is at the heart of what we do - bringing together bright minds and great ideas.

Learn how Alberta Innovates at www.albertainnovates.ca.

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.

We seek Safe Harbor.

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