CALGARY, AB, June 1, 2026 /CNW/ - Northstar Clean Technologies Inc. (TSXV:ROOF) (OTCQB:ROOOF) ("Northstar" or the "Company") is pleased to announce its financial and operating results for the three-month period ended March 31, 2026. Selected financial and operational information is set out below and should be read in conjunction with the Company's March 31, 2026 financial statements and the related management's discussion and analysis, which are available for review at www.sedarplus.ca or the Company's website at www.northstarcleantech.com.
"The first quarter of 2026 was focused on strategic execution for Northstar, highlighted by the advancement of our U.S. expansion plans, including the selection of Baltimore, MD as our first U.S. location, and the strengthening of our financial position to support the ramp up of the Empower Calgary facility and future growth," said Aidan Mills, President & CEO of Northstar. "This month, ramp up activities at the Empower Calgary Facility have been ongoing and, we're successfully processing front-to-back without encountering the material transfer and water processing issues initially at 80tpd. We're getting very close to achieving 100tpd at the Calgary Facility, a key operational milestone aligned with ERA Milestone 4 and an important step toward commercial production."
Q1 2026 Highlights
January 2026: Northstar Selects Baltimore, Maryland as First United States Expansion Location
January 2026: Northstar Raises $1.0 Million in Debenture Proceeds
February 2026: Northstar Extends Maturing Convertible Debentures
March 2026: Northstar Announces US$10 Million Non-Binding Term Sheet
March 2026: Northstar Closes US$9 Million First Tranche of US$10 Million Private Placement
Highlights Subsequent to Q1 2026
April 2026: Northstar Closes Final Tranche of US$10 Million Private Placement
Financial Results
For the quarter ended March 31, 2026, the Company reported revenue of $208,458 and gross profit of $83,649 compared to revenue of $175,517 and gross loss of $47,790 for the quarter ended March 31, 2025. The Company reported a loss and comprehensive loss of $4,839,819 compared to a loss and comprehensive loss of $2,949,917 for the quarter ended March 31, 2025, reflecting the transition from a development-stage company to an operating organization preparing for commercial production at the Empower Calgary facility. As at March 31, 2026, the Company had cash and cash equivalents of $12,662,356 (March 31, 2025 - $2,853,382). Subsequent to quarter-end, the Company strengthened its cash position through the completion of a private placement of a US$1 million convertible debenture, the second tranche of a US$10 million convertible debenture, which closed in April 2026.
Investor Webcast
The Company will host a virtual investor webcast to discuss these financial results and to provide an operational update. The webcast will be held on Tuesday, June 2, 2026, at 06:30 MDT / 08:30 EDT. Details are provided below.
Title: Northstar Clean Technologies Q1 2026 Interim Results and Operational UpdateDate: Tuesday, June 2, ...
