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NEW YORK, Nov. 1, 2021 /PRNewswire/ -- Tesla's (NASDAQ:TSLA) Solar Roof has become a vexation for Elon Musk, as it continues to present challenges in his vision for a one-stop-shop for a household's clean energy needs. Five years after its launch, Tesla is struggling to meet its target of more than 1000 installations per week as installation costs creep higher, not to mention the complexity of installing these solar roofs. In his frustration, Musk has replaced executives, raised prices, and gotten deeply involved in Tesla's involvement in sustainable energy. Unlike Solar Roof, companies like Northstar Clean Technologies Inc. (TSXV:ROOF), Greenlane Renewables, Inc. (TSX:GRN), Ballard Power Systems, Inc. (NASDAQ:BLDP), and Waste Management, Inc. (NYSE:WM) are continuing to innovate and see positive gains within the clean tech sector.
Vancouver-based clean technology company Northstar Clean Technologies Inc. (TSXV:ROOF) is focused on the recovery and repurposing of single-use asphalt shingles, which account for approximately 80% of single family detached homes in the United States . Every year, 12 million tons of asphalt shingles are sent to landfills across the US and over 1 million tons in Canada, which is why Northstar has developed a proprietary process to separate the liquid asphalt, fiber and aggregate from discarded asphalt shingles. The process offers the company five expected revenue streams: tipping fees (paid by waste haulers and roofing contractors), sale of liquid asphalt, sale of fiber, sale of aggregate and carbon credits.
Northstar, which recently raised C$12.24 million and subsequently listed on the TSX Venture Exchange, has a fully constructed facility in Delta, British Columbia that is in the commercialization phase with steady-state production expected by end of Q4 2021.
Earlier this year, the company engaged with Wellington Dupont Public Affairs to lead a government engagement for reducing single-use asphalt in Canadian landfills. Wellington will support Northstar's initiatives to expand across the US and Canada. Brian Storseth, Principal of Wellington will be leading these initiatives, tapping into his experience working in federal, provincial, and municipal politics to garner the support of politicians and non-dilutive government funding opportunities, as Northstar expands across North America.
Northstar Clean Technologies, which is the only publicly listed clean technology company dealing with the removal of single-use asphalt shingles has the potential of becoming a leader in green-friendly waste-management solutions with the support from Wellington.
Shortly after announcing the collaboration with Wellington, Northstar commenced a Request for Proposal (RFP) process with a shortlist of engineering firms to secure a strong engineering partner. The engineering firms will conduct a detailed engineering study for Northstar's first planned expansion facility in Canada.
"We are creating a modular, turn-key solution to repurpose single-use asphalt shingles that are destined for landfills each year. We are proceeding well on the path to steady-state production at our first facility. We see the potential to increase the capacity, efficiency, and reliability of our proprietary process design technology and that is the reason why we are now commencing on the RFP process," said Aidan Mills, CEO of Northstar.. "Through this RFP process, we believe we will secure a strong engineering partner, not only for the first modular facility design but also to support us as we move forward on additional expansion facilities. This engineering progress, combined with our market and government engagement, positions us well on our ambitious rollout program."
For more information about Northstar Clean Technologies Inc. (TSXV:ROOF), click here.
Companies See Gains With Clean Energy Solutions
Greenlane Biogas North America Ltd., a subsidiary of Greenlane Renewables, Inc. (TSX:GRN) signed a C$6.1 million biogas upgrading system supply agreement with Green Impact Partners for the GreenGas Colorado Project. The project, which consists of two dairy farms, has a completion date in the second half of 2022. The project will use two of the company's pressure swing adsorption (PSA) upgrading systems. Greenlane will commence on order delivery immediately.
Leading global provider of clean energy fuel solutions, Ballard Power Systems, Inc. (NASDAQ:BLDP) announced the launch of FCmoveTM-HD+, the 8th generation in the company's commercial vehicle products. The New FCmove™-HD+ is designed for business and medium-to heavy-duty trucks to improve the ease of vehicle integration. This solution is designed for engine bay and rooftop configurations to suit use in buses and trucks. This 8th generation solution is more than 40% more compact and more than 30% lighter than the previous module. The company sees the recent launch as a step forward in asserting its global leadership in the adoption of hydrogen fuel cells and the decarbonization of the transport sector.
Solar deployments for Tesla Inc. (NASDAQ:TSLA) reached 85 MW in Q2 2021, more than tripling YoY according to the company's Q2 2021 financial results. The company's solar storage product has also grown in popularity as the company continues to improve the efficiency of its install crew. The company has plans to become a leading provider of clean energy solutions for homes although it is still struggling on the installation front.
Houston-based compressive waste management service provider, Waste Management, Inc. (NYSE:WM) reported strong financial performance in Q2 2021 with its collection and disposal business generating $425 million. Its recycling business recorded a $56 million improvement compared to the same period in 2020, partly due to the improved market for recycled products. Its renewable energy business line also saw approximately $14 million improvement compared to the same period in 2020 as prices for renewable energy increased. The company also anticipates the release of its Q3 earnings on October 26, 2021.
As the world transitions to renewable energy, companies like Northstar Clean Technologies Inc. (TSXV:ROOF) are positioning themselves through various green initiatives in different sectors collectively working towards decarbonization.
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The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of Northstar Clean Technologies Inc.
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