Vancouver-based Northstar Clean Technologies has reportedly entered into the circular economy by diverting single-use asphalt shingles away from landfills. The USD 45 million-valued clean tech company is emphasizing on the repurposing and recovery of single-use asphalt shingles. Recently, the company secured a funding of USD 12.24 million.
The BEST (Bitumen Extraction and Separation Technology) of Northstar uses a licensed process to segregate the fiber, liquid asphalt as well as aggregate sands from defective or discarded asphalt roofing shingles headed for landfill.
In times when tech companies frequently go public while being in nascent stage, Northstar has a completely built plant in Delta, BC which is in the commercialization phase with steady production expected to commence in Q4 2021.
The company has five potential streams of revenue-asphalt sales, fiber sales, carbon credits, aggregate sales, as well as tipping fees which are paid by roofing contractors and waste haulers.
Even though asphalt shingles might not share the elegance of cedar shakes or copper roofs, they are the most in-demand roofing material across North America owing to their low weight, durability along with low costs. Currently, asphalt shingles are used in close to 80% of the roofs built in North America.
As per credible reports, the circular economy offers a solid framework for protecting ecosystems, reducing the impacts as well as living within the boundaries of one planet. Many companies from the region have affirmed that environmental issues are inching towards the forefront of the asphalt roofing industry.
Will Franklin, the owner of Canuck Roofing, confirmed that every single shingle that gets made in Vancouver is sent straight to the landfill, which is a significant wastage of resources. He added that accessibility will become a big thing and the perfect scenario would be a recycling firm that picks up these shingles at a lower rate.
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