Northstar Clean Technologies raises $3.6M in funding

CALGARY — Northstar Clean Technologies closes a non-brokered private placement, raising approximately $3.6 million through the issuance of 11,926,664 units at $0.30 per unit.

Proceeds from the financing will be used to support the planned production ramp-up at Northstar’s Calgary facility, to reach Emission Reduction Alberta’s Milestone 3 threshold of over 80 tonnes per day. Additional funds will go toward business development activities for the company’s Hamilton project and its first U.S. site, as well as for general corporate purposes.

“We are delighted by the continued support of Northstar’s vision by both our existing long-term and now new strategic shareholders of the Company,” said Aidan Mills, president and CEO. “This infusion of capital will support both the transition to commercial operations for the Calgary facility and the continued business development of our expansion targets.”