Northstar Signs Letter of Intent for Long-Term Lease in Hamilton, Ontario – Facility Update
Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) has recently signed a significant letter of intent with Great Lakes Port Management Inc., a subsidiary of the Hamilton-Oshawa Port Authority, for a long-term lease on an industrial zoned property in Hamilton, Ontario. This move marks a pivotal moment for Northstar as they plan to establish the Empower Hamilton Facility in southwestern Ontario. The initial term of the lease is set for 15 years, with the option for three extensions of five years each.
Exciting Development in Ontario
Aidan Mills, President & CEO of Northstar, expressed his enthusiasm for this expansion into Ontario, highlighting the significance of the future Empower Hamilton Facility in diverting asphalt shingle waste from landfills. The collaboration with HOPA, the long-term landlord, has been fruitful, setting the stage for a meaningful impact on southern Ontario’s environmental landscape.
Strong Partnership for Sustainable Solutions
HOPA Ports’ President & CEO, Ian Hamilton, also emphasized the importance of supporting circular economy innovation in the housing and construction sector of Southern Ontario. The new facility will be situated on repurposed industrial lands, aligning with HOPA’s commitment to sustainable development and multimodal transportation assets.
Strategic Location and Operational Advantages
The selection of the Hamilton location was deliberate, considering factors such as proximity to industry partners, access to ports and rail infrastructure, and a robust supply of feedstock from Hamilton and the Greater Toronto Area. This strategic positioning sets the stage for a successful venture in asphalt shingle recovery and reprocessing.
Investor Webinar and Community Engagement
As Northstar progresses with its business development initiatives, they plan to host a virtual investor webcast to discuss their third-quarter results and provide insights into their future plans. This engagement with investors reflects their commitment to transparency and stakeholder involvement in their journey towards sustainable processing solutions.
About Northstar and HOPA Ports
Northstar Clean Technologies Inc. is a leading Canadian clean technology company focused on the recovery and reprocessing of asphalt shingles. Their mission is to establish themselves as a frontrunner in sustainable processing, contributing to a greener future for North America. On the other hand, HOPA Ports plays a crucial role in fostering innovation and sustainability in port operations across Ontario, driving economic growth and environmental stewardship.
As Northstar embarks on this new chapter in Hamilton, the possibilities for environmental impact and sustainable growth are vast. By partnering with industry experts and leveraging strategic locations, they are poised to make a meaningful difference in the recycling and reprocessing landscape of Ontario. Stay tuned for more updates on this exciting development in the clean technology sector.
