Northstar Clean Technologies finalizes $14 million royalty transaction

Northstar Clean Technologies Inc. has completed a $14 million royalty transaction with CVW CleanTech Inc., aimed at accelerating the development of Northstar’s shingle reprocessing facilities. This financing comes through a five-year 10% second secured convertible debenture, convertible into revenue royalties on two Northstar plants, following the successful launch of the Empower Calgary Facility.

Northstar President and CEO Aidan Mills emphasized the deal’s importance in strengthening the company’s growth plan and reducing near-term equity financing needs. CVW CleanTech CEO Akshay Dubey expressed confidence in Northstar’s leadership and their shared vision for sustainable growth.

Additionally, Northstar has entered into agreements with Green Stock News LLC and Winning Media LLC for digital marketing and promotional services, at a combined cost of $50,000 over the next year.

Northstar is focused on reprocessing asphalt shingles for reuse, contributing to sustainable construction practices.