VANCOUVER, BC, Sept. 15, 2021 /PRNewswire/ – Northstar Clear Applied sciences (TSXV: ROOF) is a $45 million clear expertise firm centered on the restoration and repurposing of single-use asphalt shingles. Northstar not too long ago raised $12.24 million and subsequently listed on the TSX Enterprise Trade.
Northstar’s Bitumen Extraction and Separation Expertise (BEST) makes use of a proprietary course of to separate the liquid asphalt, fiber and mixture sands from discarded or faulty asphalt roofing shingles destined for landfill.
In an period when expertise firms typically go public whereas they nonetheless within the conceptual stage, Northstar has a completely constructed facility in Delta, BC within the commercialization section with steady-state manufacturing anticipated in This fall 2021.
ROOF has 5 anticipated income streams: 1. tipping charges (paid by waste haulers and roofing contractors), 2. Sale of Asphalt, 3. Sale of Fiber, 4. Sale of Combination and 5. Carbon credit.
Though asphalt shingles might not have the esthetic cachet of copper roofs or cedar-shakes, they’re the preferred roofing materials in North America because of the low price, low weight, and sturdiness. Asphalt shingles symbolize over 80% of the roofs constructed in North America right now.
The market measurement for asphalt shingles within the U.S. is CAD $2.2 billion.
An asphalt shingle roof usually has a 15-year lifespan, after which it will get torn off and changed. 12 million tons of asphalt shingles are despatched to landfills yearly in North America with only one million tons recycled again into highway pavement. That interprets into mountains of soiled asphalt shingles into North American landfills yearly.
The “tipping charges” (surcharges paid to dump the previous shingles) have been steadily growing as governments world wide advocate for a extra “round economic system” whereas racing to cut back landfill waste.
“The round economic system supplies a tangible framework for decreasing our impacts, defending ecosystems and residing inside the means of 1 planet,” states the 2020 Circularity Gap Report.
A phone survey of 13 Vancouver, BC-based roofing firms confirmed that environmental issues have unfold to the frontlines of asphalt roofing trade.
“Each single shingle that will get torn off right here in Vancouver goes straight to the landfill,” confirmed Will Franklin, proprietor of Canuck Roofing, “That is undoubtedly an enormous waste and the flawed factor to do.”
Franklin experiences that the tipping charges have tripled within the final ten years.
“Accessibility goes to be an enormous factor,” provides Franklin, “The perfect state of affairs could be a recycling firm that picks up the shingles themselves, at a decrease fee.”
Northstar’s new CEO Aidan Mills has a hybrid technical and monetary background with 30 years of expertise, together with engineering, industrial and technique roles at British Petroleum (BP), Goldman Sachs, Husky Power and MEG Power.
“Our clear expertise answer is anticipated to have a big environmental influence by decreasing landfill utilization, decreasing the CO2 influence of asphalt, fiber and mixture sand manufacturing, and contributing to the round economic system,” confirms Mills.
As landfills attain capability, federal governments world wide are pushing diversion packages to the forefront.
“I’ve proposed an enormous funding in American infrastructure and American innovation to faucet the financial alternative that local weather change presents our staff and our communities,” stated President Joe Biden at an April, 2021 Climate Summit.
After turning into President, Biden instantly brought the U.S. back into the Paris Climate Agreement.”
These sweeping political and technological adjustments create a tailwind for round economic system firms, however to maximise the monetary advantages Northstar will want native and federal advocates.
On July 27, 2021 Northstar introduced that it has engaged Wellington Dupont Public Affairs to steer authorities engagement on the discount of single-use asphalt shingle disposal into landfills throughout Canada.
“Wellington will assist federal, provincial, and municipal engagement on the execution of the Northstar’s growth plans throughout North America, along with evaluating numerous potential non-dilutive funding methods, together with authorities grants, to assist growth plans,” acknowledged Northstar.
With workplaces in Ottawa, Toronto, Montreal and Washington, DC, Wellington has affect throughout Canada and the USA.
Mr. Brian Storseth, Principal of Wellington and former 10-year Canadian Member of Parliament might be main the initiatives for Northstar.
“Wellington can have a necessary position to play, as we search assist from the federal, provincial, and municipal governments, within the execution of our nationwide rollout technique,” acknowledged Mills.
To maximise market share and income streams, Northstar ultimately might want to scale, increasing facility areas throughout North America.
On August 17, 2021, Northstar introduced that it’s short-listing engineering corporations to undertake an in depth engineering examine for the Company’s first planned expansion facility in Canada.
ROOF will use the detailed engineering examine to assist design a simplified, turn-key operational facility that has the potential to be rapidly positioned into manufacturing in municipalities throughout Canada and the USA. Northstar anticipates the engineering contract to be awarded within the fall of 2021.
“We’re continuing nicely on the trail to regular state manufacturing at our first facility,” defined Mills, “We see the potential to extend the capability, effectivity and reliability of our proprietary course of design expertise.”
“The shift to a worldwide economic system based mostly on reusing, repairing, and recycling—as an alternative of creating issues, utilizing them, after which throwing them away—is gaining traction as a sustainable investing theme,” reports Barrons.com.
“By 2030, the round economic system might yield as much as US $4.5 trillion in financial advantages globally,” states Jessica Matthews, head of sustainable investing at $12.5 billion J.P. Morgan Personal Financial institution.
“Northstar’s goals align completely with the present ESG surroundings,” confirmed Mills on a September 2, 2021 webinar call, “However we’re not a future wanting ESG tech firm that is going to come back on line in 2025 or 2030. Our expertise is prepared now.”
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