Governments all over the world are pushing for a greener future. The U.S. wants to cut emissions by up to 52%, according to CNBC. Europe says it’ll cut emission by up to 55%, according to the BBC. China says it will stop releasing CO2 in the next 40 years, as noted by Scientific American. To help, President Biden signed a climate bill into law, which will see $375 billion worth of federal investment over the next decade. According to TheHill.com, “By 2030, the law is expected to bring U.S. planet-warming emissions down to between 32 and 42 percent lower than they were in 2005 through many of its provisions to promote the deployment of clean energy.” While electric vehicles, hydrogen, solar, and other forms of green energy should benefit from the bill, it could also have a positive impact on the construction & demolition materials reprocessing industry, including stocks such as Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF), which is focused on the sustainable recovery and reprocessing of asphalt shingles. Other companies that could benefit include Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Lowe’s Companies Inc. (NYSE: LOW), and Home Depot Inc. (NYSE: HD).
Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example
Northstar Clean Technologies Inc. announced that it has signed a purchase order agreement with a major international manufacturer engaged in the production of asphalt roofing systems. The Customer has agreed to purchase 80 tonnes of liquid asphalt produced from reprocessed single-use asphalt shingles at the Company’s asphalt shingle reprocessing facility in Delta, BC at an undisclosed rate based on current market pricing for liquid asphalt. The parties have agreed a specification for the product.
The Customer has previously conducted a detailed analysis of Northstar’s liquid asphalt and intends to incorporate the Product into its own proprietary product, on which it plans to conduct additional detailed product testing. If successful, the parties expect this testing to lead to a long-term offtake agreement for the Empower Pilot Facility and potentially other North American locations.
Mr. Aidan Mills, President & CEO, and Director of Northstar, stated, “The Purchase Order is a major milestone for Northstar. As I have previously mentioned, there are three industrial sectors that we are targeting: paving, shingle manufacturing, and flat roofing systems. We are therefore delighted that having completed the first stage of analysis on Northstar’s liquid asphalt, this Customer, a major international roofing systems manufacturer, is moving to the next stage of product manufacturing and advanced testing. If successful, we expect to establish a long-term multi-year off-take agreement for the Empower Pilot Facility with the potential to extend our supply for further facilities as we deploy our proprietary technology in markets across North America. We continue to focus on building our relationships with sophisticated buyers who will use our reprocessed liquid asphalt across Canada and internationally. We expect to deliver the Product to the Customer in Q4 2022. This is the first sale of liquid asphalt by Northstar, which is an important step for the Company and validates the quality and demand for our liquid asphalt outputs. In addition, and importantly, this is also the first revenue generation for Northstar, another element of this major milestone.”
While Northstar, through its wholly owned subsidiary Empower Environmental Solutions Ltd., originally agreed to supply liquid asphalt from the Empower Pilot Facility to Lafarge Canada Inc. during the first year of commercial production, the agreement is no longer in effect.
Other related developments from around the markets include:
Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.35 per common share. The dividend will be payable on November 3, 2022, to shareholders of record as of October 17, 2022. Future dividend declarations will be made at the discretion of the Board of Directors and will be based on the company’s earnings, financial condition, cash requirements, future prospects and other factors.
Builders FirstSource Inc., the nation’s largest supplier of structural building products and value-added components and services, announced it has acquired Trussway, a leading provider of pre-fabricated roof and floor trusses as well as value-added building components and services, including for the multifamily sector, with annualized sales of approximately $340 million.
Lowe’s Companies declared a quarterly cash dividend of one dollar and five cents ($1.05) per share, payable Nov 2, 2022 to shareholders of record as of Oct. 19, 2022.
Home Depot Inc. announced it will prepare racial equity and deforestation assessments in response to shareholder proposals from the company's 2022 annual meeting of shareholders. These assessments will expand on the information previously shared in the company's annual Environmental, Social and Governance (ESG) report on the progress of the company's diversity, equity and inclusion (DEI) programs, sustainability and environmental efforts, and actions taken to combat deforestation. Both assessments will be conducted by a third-party firm with recognized expertise.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Northstar Clean Technologies Inc. by Northstar Clean Technologies Inc. We own ZERO shares of Northstar Clean Technologies Inc. Please click here for full disclaimer.
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