Northstar Clean Technologies

Northstar Clean Technologies

Focuses on the recovery and reprocessing of single-use asphalt shingles.

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CAD3.6m

Private Placement non VC
Total Funding000k

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Revenues, earnings & profits over time
CAD20202021202220232024
Revenues00000000000000000000
% growth----210 %
EBITDA00000000000000000000
% EBITDA margin---(2548 %)(839 %)
Profit00000000000000000000
% profit margin---(3232 %)(1457 %)
EV00000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x
R&D budget00000000000000000000
R&D % of revenue---377 %-

Source: Company filings or news article

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Northstar Clean Technologies Inc. is a Canadian public company focused on the circular economy by reprocessing discarded asphalt shingles. Founded in 2015, the company addresses the significant environmental issue of shingle waste, with approximately 16.5 million tons sent to landfills annually in North America. The company’s proprietary process, known as Bitumen Extraction and Separation Technology (BEST), originated as an internal project within the construction materials company Lafarge. Northstar has since advanced this technology, establishing a pilot facility in Delta, British Columbia, to de-risk the process and is now scaling up with its first commercial plant in Calgary, Alberta.

The company is led by President and CEO Aidan Mills, an executive with over 30 years of global experience in the energy and finance sectors, including roles at BP, Goldman Sachs, and Husky Energy. His background in engineering, operations, and commodity markets is directly applicable to commercializing Northstar's technology and driving its expansion. The leadership team also includes co-founders with extensive experience in transportation and building innovative businesses.

Northstar's business model generates revenue from multiple streams. It collects tipping fees from waste haulers and roofing contractors for accepting discarded shingles, which are often lower than landfill fees. The core of its operation is the BEST process, which separates shingles into their three primary components: liquid asphalt (bitumen), aggregate (sand), and fiber. These recovered materials are then sold for reuse in various industrial applications. Liquid asphalt is sold for new shingle manufacturing and road paving, while aggregate and fiber are used in construction products. A future revenue stream from carbon credits is also anticipated. This model positions Northstar as a key player in the waste-to-value market by providing a sustainable alternative to landfilling.

Significant milestones include going public on the TSX Venture Exchange (TSXV: ROOF) in 2021, which raised C$12.24 million. The company has secured strategic partnerships and funding, including a major investment from TAMKO Building Products, a large U.S. roofing manufacturer that is also a planned partner for U.S. expansion. Northstar has also received loans and grants from entities like the Business Development Bank of Canada (BDC), Emissions Reduction Alberta (ERA), and Alberta Innovates to support the construction of its Calgary facility. In July 2025, the Calgary commercial facility achieved a critical milestone by producing its first liquid asphalt, paving the way for full-scale operations projected to process 40,000 tonnes of shingles annually.

Keywords: asphalt shingle recycling, clean technology, circular economy, waste to value, bitumen recovery, construction waste management, sustainable materials, environmental services, tipping fees, liquid asphalt, aggregate recycling, fiber recycling, industrial reprocessing, TSXV:ROOF, Aidan Mills, proprietary technology, sustainable infrastructure, green building materials, landfill diversion, resource recovery

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