Major North American Industrial Customer signs LOI to Purchase Northstar’s Asphalt and Products from Future U.S. Facilities

• Northstar Clean Technologies has signed a non-binding letter of intent (LOI) with a major industrial customer for the exclusive right to purchase recycled asphalt from one or more of Northstar’s future facilities in the United States
• The parties have agreed to base the price of the purchased asphalt on market value, including a location and quality differential
• Northstar and the customer intend to enter into a definitive agreement by mid 2023 for an initial term of five years

Northstar Clean Technologies (TSXV: ROOF, OTCQB: ROOOF) announced today that it has signed a non-binding letter of intent (LOI) with a major industrial customer, giving the customer the exclusive right to purchase recycled asphalt from one or more of Northstar’s future facilities in the United States.

According to the letter of intent, both Northstar and the customer intend to enter into a definitive agreement by mid 2023 for an initial term of five years.

While the company did not specify what the agreement will be worth, the parties have agreed to base the price of the purchased asphalt on market value, including a location and quality differential.

In addition to the purchase of recycled asphalt, the parties continue to negotiate the sale of aggregate and fiberglass materials that would be produced at Northstar’s future facilities.

“This is a great step for Northstar,” said Northstar’s president and CEO Aidan Mills.

“We believe that we have the lowest carbon footprint of any commercially available asphalt in North America,” he added, “and this LOI continues our entry into these sectors.”

Northstar Clean Technologies Inc. is a Vancouver-based clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles.

To learn more about Northstar Clean Technologies and its innovative processes, visit the Company’s website. To read the full press release, click here.

About the Kinvestor Network

The Kinvestor Network is an exclusive network of investors that want access to enhanced research and reporting. The Kinvestor Network provides access to exclusive articles, reports, models, and various other tools that investors may find useful.

Visit the Kinvestor Network for more free content, including in-depth research reports, industry documentaries, CEO interviews, and more.

Please read this disclaimer in its entirety before reviewing any opinions, views or information expressed by Kin Communications Inc. (“Kin”).