Northstar completes first sale of liquid asphalt

Executive Summary

• Northstar Clean Technologies Inc. completed its first sale of liquid asphalt to McAsphalt Industries Ltd., marking the company's first revenue-generating transaction for liquid asphalt produced from waste shingles.
• The transaction occurred at the newly constructed Empower Calgary facility, representing a significant commercial and operational milestone in the transition to profitable operations.
• Northstar expects to begin regular, continuing commercial sales in line with the McAsphalt offtake agreement starting in January 2026.

Key Details

• Transaction: First sale of liquid asphalt to McAsphalt Industries Ltd. (a wholly owned subsidiary of Colas Canada Inc.).
• Facility: Empower Calgary facility.
• Product Source: Liquid asphalt produced from waste shingles.
• Significance: First revenue-generating transaction for the specific product line; marks a step toward profitable operations.
• Future Outlook: Regular continuing commercial sales expected to start in January 2026, per the offtake agreement with McAsphalt.
• Partnership Context: McAsphalt was instrumental in the planning, testing, construction, and commissioning of the Empower Calgary facility.

Notable Quotes

• Aidan Mills, President and CEO, Northstar: "McAsphalt has been instrumental through the planning, testing, construction and commissioning of the Empower Calgary facility so completing our first shipment of liquid asphalt represents a significant commercial and operational milestone for Northstar, and our partnership with McAsphalt... This achievement marks yet another important step in the transition to profitable operations."
• David LeMay, President, McAsphalt Canada: "We are delighted to have collected our first shipment of liquid asphalt from the Empower Calgary facility... Having contributed to the development of the project, we are pleased to see the facility reach this milestone and look forward to receiving asphalt from steady state commercial production."