CVW Sustainable Royalties Announces Third Quarter 2025 Results

Executive Summary

• CVW Sustainable Royalties reported Q3 2025 financials, showing cash on hand of $3.1 M and a net loss of $1.0 M for the quarter (‑$0.01 per share).
• Royalty revenue from its debenture with Northstar Clean Technologies totaled $371 K in Q3 2025 ($1.1 M year‑to‑date).
• Northstar achieved its first commercial milestone (80 t/d waste asphalt shingle processing) and closed a $3.6 M private placement, plus received an ND‑LOI from Export Development Canada for up to four U.S. facilities.

Key Details

• Cash Position: $3.1 million as of September 30, 2025.
• Royalty Revenue (Northstar): $371,000 for Q3 2025; $1.1 million for the nine‑month period ended Sept 30, 2025.
• Net Loss – Quarter: $1.0 million; Net loss per share: $0.01 (basic & diluted). Includes $570,000 non‑cash stock‑based compensation expense.
• Net Loss – Nine Months: $3.1 million; Net loss per share: $0.02 (basic & diluted). Includes $1.8 million non‑cash stock‑based compensation expense.
• Northstar Milestone: First commercial operation processing 80 tonnes/day of waste asphalt shingles at its Calgary facility.
• Financing for Northstar: Closed a $3.6 million private placement to fund transition to commercial operations and future business development.
• Potential Funding: Received a non‑binding letter of intent from Export Development Canada for possible project financing of up to four additional Northstar facilities in the United States.
• Royalty Pipeline: Management reports continued growth in royalty opportunities, with several projects at advanced stages of review involving developers, venture capital firms, and government partners.

Notable Quotes

(No direct quotes were included in the release.)