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How Millions of Roofs Across the U.S. Can Help with Climate Change

More than 13 tons of shingles waste is created every year. Nearly 90% of that is sent to landfills, and takes up to 300 years to decompose, as reported by While a small amount of that material is used for pavement, most of its just sits for years on end. However, that’s where companies, such as Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF), which is focused on the sustainable recovery and reprocessing of asphalt shingles, and roofing manufacturer GAP come into play. In fact, companies just like these are recovering more of the waste and using it to make new shingles. “Asphalt is a waste byproduct from petroleum refining, and when it’s landfilled it just goes back into the ground and takes up space there. It’s essentially putting oil back into the ground from which oil came. That’s the circularity we are not interested in,” says Jeff Terry, vice president of Corporate Social Responsibility and Sustainability for GAF. Other shingles stocks to be aware of in the market include Owens Corning (NYSE: OC), Lowe’s Companies (NYSE: LOW), Beacon Roofing Supply Inc. (NASDAQ: BECN), and Home Depot Inc. (NYSE: HD).

Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example

Northstar Clean Technologies Inc. just announced that it has signed a non-binding Letter of Intent with a major industrial customer, where the Customer has the exclusive right to purchase recycled asphalt from one or more of Northstar’s future facilities in the United States. In addition, Northstar and the Customer will negotiate the purchase and sale of aggregate and fiberglass materials produced at Northstar’s U.S. Facilities. The LOI outlines the intent of the Parties to enter into a definitive agreement, with a target completion in mid 2023 for an initial term of up to five years.

The Parties also agreed that the price of the asphalt will be market based, including a location and quality differential. Further, the Customer agreed that, so long as Northstar’s asphalt meets its specifications, it will purchase 100% of the asphalt from Northstar’s first location in the United States, up to the produced volume.

Mr. Aidan Mills, President & CEO, and Director of Northstar, stated, “This is a great step for Northstar towards the formalization of a major off-take agreement with a major North American industrial customer for our first U.S. Facilities. We believe that we have the lowest carbon footprint of any commercially available asphalt in North America at a specification that can be blended for use in the (i) paving (ii) flat roof manufacturing, and (iii) shingle manufacturing sectors, and this LOI continues our entry into these sectors. Part of our objectives for next year will now include developing the terms of the LOI into a definitive agreement, therefore securing the binding commercial off-take terms for our first U.S. Facility.”

Other related developments from around the markets include:

Owens Corning took an important step toward reaching its circular economy aspiration with the announcement of enhanced shingle recycling efforts. By 2030, the company intends to recycle two million tons of shingles per year in the U.S. “Owens Corning has a strong sustainability foundation and has set ambitious goals. This includes establishing circular economy business models that ensure materials in our products remain in the economy indefinitely. We are focused on bringing these breakthrough solutions to life as a critical next chapter of work in our sustainability journey,” said David Rabuano, Senior Vice President and Chief Sustainability Officer. “Our mission is to build a sustainable future through material innovation, and with this enhanced focus on shingle recycling we continue to make progress.”

Lowe’s Companies reported net earnings of $154 million and diluted earnings per share (EPS) of $0.25 for the quarter ended Oct. 28, 2022, which included a pre-tax non-cash asset impairment charge of $2.1 billion related to its Canadian retail business, compared to diluted EPS of $2.73in the third quarter of 2021. Excluding the impairment charge, third quarter adjusted diluted EPS1 increased 19.8% to $3.27 compared to the prior year. Total sales for the third quarter were $23.5 billion compared to $22.9 billion in the third quarter of 2021, and comparable sales increased 2.2%. Comparable sales for the U.S. home improvement business increased 3.0% for the third quarter.

Beacon Roofing Supply Inc. announced results for the third quarter ended September 30, 2022. “Beacon’s record third quarter results demonstrate our team’s focused execution and the resiliency of our business model in a dynamic environment,” said Julian Francis, Beacon's President & CEO. “We continued to deliver value to our customers, driving record third quarter net income and our 11th straight quarter of year-over-year increases in Adjusted EBITDA. At the same time, we continued making strategic investments toward achieving our Ambition 2025 growth and margin targets. We took an important step this week with the acquisition of Coastal Construction Products, one of the largest independent distributors of specialty waterproofing products in the U.S. The combination of Beacon’s specialty waterproofing branches in the West, and Coastal’s strong presence in the Southeast, creates a new national player in waterproofing products and significantly enhances our value proposition by providing a building envelope solution to our commercial and multifamily roofing customers. We also accelerated greenfield investments in several key markets, creating capacity, expanding our branch footprint and enhancing service to our core exteriors customers. Our balanced capital allocation demonstrates our commitment to creating shareholder value and confidence in our Ambition 2025 strategic plan. I am extremely pleased with our achievements in the third quarter and know the Beacon team remains prepared to quickly adapt to changing market conditions going forward as we help our customers build more.”

Home Depot Inc., the world's largest home improvement retailer, reported sales of $38.9 billion for the third quarter of fiscal 2022, an increase of $2.1 billion, or 5.6 percent from the third quarter of fiscal 2021. Comparable sales for the third quarter of fiscal 2022 increased 4.3 percent, and comparable sales in the U.S. increased 4.5 percent. Net earnings for the third quarter of fiscal 2022 were $4.3 billion, or $4.24 per diluted share, compared with net earnings of $4.1 billion, or $3.92 per diluted share, in the same period of fiscal 2021, representing an 8.2 percent increase in diluted earnings per share.

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.


Ty Hoffer
Winning Media
[email protected]