Northstar Clean Technologies, has completed the final draw of its $8.75- million non-revolving senior secured project loan facility with the Business Development Bank of Canada.

Delta, B.C.-based Northstar specializes in the sustainable recovery and reprocessing of asphalt shingles, extracting liquid asphalt, aggregate, and fibre for reuse in construction and industrial applications. The company aims to advance the circular economy by diverting asphalt-shingle waste from landfills and repurposing materials for commercial use.

The funds will support ongoing commissioning efforts at Northstar’s Empower Environmental Solutions facility under development in Calgary. Once complete, the Empower project will be Northstar’s first commercial operation.

The final disbursement of $617,698 included a $250,000 holdback and brings the total funding under the facility to completion, Northstar said in a news release.

With the loan now fully drawn, repayment will begin through monthly amortization over a 13-year period. The first phase of the facility’s commissioning has been completed, and focus has now shifted to finalizing the remaining phase. Northstar continues to target mid-2025 for the start of full operations.

The capital draw comes after Northstar secured a 15-year lease extension for its pilot facility in Delta earlier this spring.

The pilot facility helped the company validate its reprocessing technology, laying the groundwork for the Calgary plant.

Northstar also plans to locate new facilities in Hamilton and the U.S. Mid-Atlantic region.

Photo: Kin Communications

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