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Northstar Clean Technologies Year-End Financial Review 2025

Northstar Clean Technologies Inc. has released its financial results for the year ending December 31, 2025, reflecting both growth and strategic developments. This period stands out as a transformative year for the company as it progressed from a development phase to operational status with the commissioning of its first commercial facility, Empower Calgary.

Major Operational Milestones

Aidan Mills, the President and CEO of Northstar, proudly noted that 2025 was monumental in establishing the company's footprint within the asphalt recycling sector. In October, the company achieved a significant milestone, reaching a processing capacity of 80 tonnes per day (tpd) of post-consumer and manufactured waste asphalt shingles at Empower Calgary. This was not merely a technical achievement; it represented Northstar's ability to innovate and yield valuable products from waste that would typically burden landfills.

Moreover, the establishment of a five-year contract with the City of Calgary to secure a steady supply of waste asphalt shingle further solidifies Northstar’s operational framework. The successful completion of the first sale of liquid asphalt to McAsphalt Industries showcases initial commercial success and sets the stage for future revenue generation.

Financial Performance Overview

Northstar reported total revenues of CAD 593,586 for the fiscal year, with a gross profit of CAD 93,439, a slight decline from CAD 640,569 in revenue and CAD 68,022 in gross profit recorded in 2024. Despite these figures indicating a drop in revenue, it’s essential to highlight that the net loss for the year escalated to CAD 14,751,864 from CAD 9,332,820 the previous year. This increment in losses aligns with the expenses associated with transitioning into operational status while enhancing technological capabilities at Empower Calgary.

The company ended 2025 with cash and cash equivalents of CAD 457,094, a stark contrast to CAD 10,225,904 recorded at the end of the previous year. The substantial decrease emphasizes the need for sustained financial support and strategic funding initiatives going forward.

Strategic Steps Taken in 2026

As Northstar steps into 2026, it has made proactive moves to bolster its financial foundation. January saw the company choosing Baltimore, Maryland, for its first U.S. expansion site. The initiation of a debenture with proceeds totaling CAD 1 million, alongside a substantial US$10 million private placement successfully closed in multiple tranches, provides Northstar with the necessary capital to pursue ambitious projects.

In preparation for potential scalability, Northstar is optimistic about further growth and operational stability, aspiring to harness the lessons learned from the inaugural year of operations to enhance productivity and deepen engagement with stakeholders.

Commitment to Sustainability

At the core of Northstar's mission lies a dedication to sustainable practices aimed at enhancing the circular economy. Northstar’s proprietary designs allow for the extraction of valuable components from discarded asphalt shingles, thereby reducing landfill usage and promoting eco-friendly construction methodologies. This core philosophy places Northstar on a strategic path towards becoming a leader in the recovery and reprocessing of asphalt shingles in North America.

As Northstar Clean Technologies solidifies its place in the industry, it remains committed to building durable relationships with its stakeholders and adhering to its long-term vision of innovation in sustainability. For more information, visit Northstar's website.