Northstar Clean Technologies and TAMKO select Maryland facility for U.S. supply location
by CM Staff
Over the upcoming months, Northstar and TAMKO will work together to find the ideal location for both the optimal supply to TAMKO's asphalt shingle production facility in Frederick, Maryland.
VANCOUVER and CALGARY — Northstar Clean Technologies Inc. announces that the Company and its strategic investor, TAMKO Building Products LLC, have mutually agreed that Northstar’s first U.S. asphalt shingle reprocessing facility will supply TAMKO’s asphalt shingle production facility located in Frederick, Maryland, USA.
After a review of several potential market options for the Northstar U.S. Expansion Facility, the Board of Directors of the Company approved the nominated choice for the Mid Atlantic Region. This area encompasses Maryland, Delaware, Pennsylvania, New Jersey, New York, and parts of Virginia and West Virginia.
Over the upcoming months, Northstar and TAMKO will work together to find the ideal location for both the optimal supply to TAMKO’s asphalt shingle production facility in Frederick, Maryland, and Northstar’s processing and recovery facility for asphalt shingles. This collaborative effort has the goal of delivering the optimal site for Northstar’s first U.S. facility.
Mr. Aidan Mills, President & CEO and Director of Northstar, stated, “We are pleased to announce this major milestone of progression in our strategic partnership with TAMKO, marking a pivotal step towards our expansion into the U.S. market in 2025-2026. This strategic decision now gives us the required lead time for the site selection and permitting processes. The U.S. is a critical market for us and given the numerous advantages of the Mid Atlantic region both for Northstar’s selection criteria and TAMKO’s asset flexibility, we are excited to progress together on the next step of detailed site selection.”
Mr. Jeffrey Beyer, Vice President and Chief Operating Officer of TAMKO, stated, “We are excited to announce our strategic collaboration with Northstar on the selection of the first U.S. location. Together, we are committed to identifying the optimal site for the inaugural U.S. facility, serving our operations in Frederick, Maryland. By redirecting asphalt shingle waste, we are not only mitigating environmental impact but also spearheading a sustainable future for our communities.”
On July 31, 2023, Northstar announced a US$10.0 million arms length strategic investment from TAMKO’s subsidiary, Allmine Paving LLC, which included two phases: US$6.4 million of preferred shares (Phase 1) and US$3.6 million of unsecured three-year debentures (Phase 2), which is to be purchased in two tranches and conditional on the attainment of certain milestones.
