ROOOF - Northstar and Ecco Recycling Announce Three-year Asphalt Shingle Supply Agreement and Further Landfill Supply Study for Northstar's Empower Calgary Facility | Benzinga
VANCOUVER, BC and CALGARY, AB, April 18, 2024 /PRNewswire/ - Northstar Clean Technologies Inc. (TSXV:ROOF), (OTCQB:ROOOF) ("Northstar" or the "Company"), a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles, and Ecco Recycling & Energy Corporation ("Ecco Recycling"), a leading Calgary-based waste diversion provider, are pleased to announce that Ecco Recycling and Northstar, through its wholly-owned subsidiary Empower Environmental Solutions Calgary Ltd. (together with Ecco Recycling the "Parties", or each a "Party") have signed a binding three-year asphalt shingle supply agreement (the "Supply Agreement") for Northstar's planned asphalt shingle reprocessing facility in Calgary, Alberta (the "Empower Calgary Facility").
Under the terms of the Supply Agreement, Ecco Recycling will supply asphalt shingles from its current construction & demolition ("C&D") landfill in Calgary to Northstar's Empower Calgary Facility. The shingles will be reprocessed at Northstar's Empower Calgary Facility for an initial term of three years with mutual extension options.
In addition, the Parties are expected to carry out a landfill supply study to investigate the potential for Ecco Recycling to supply additional shingles from its landfill in Calgary. Ecco Recycling's C&D landfill currently has a resource of over 500,000 tonnes of asphalt shingles and Ecco Recycling is working with the City of Calgary and the Province of Alberta to develop a solution for the removal and repurposing of the C&D material currently deposited at its landfill.
Access to this resource, subject to detailed ongoing testing and rigorous specifications, has the potential to enable the Empower Calgary Facility to significantly increase processing throughput.
The Supply Agreement outlines the following:
- Pre-Commissioning Shingle Volume – Monthly supply of up to 1,000 tonnes per month to be delivered by Ecco Recycling to the Empower Calgary Facility from April 1, 2024 to March 31, 2025;
- Post-Commissioning Shingle Volume – Ongoing monthly supply of up to 20,000 tonnes per year to be delivered by Ecco Recycling to the Empower Calgary Facility, commencing April 1, 2025;
- Tipping Fees – Tipping fees are expected to be transacted throughout the term of the agreement;