Green Roofing Should Benefit from the Climate Bill

September 14, 2022 - Baystreet.ca


Governments all over the world are pushing for a greener future. The U.S. wants to cut emissions by up to 52%. Europe says it’ll cut emission by up to 55%. China says it will stop releasing CO2 in the next 40 years. To help, President Biden signed a climate bill into law, which will see $375 billion worth of federal investment over the next decade. And, according to TheHill.com, “By 2030, the law is expected to bring U.S. planet-warming emissions down to between 32 and 42 percent lower than they were in 2005 through many of its provisions to promote the deployment of clean energy.” The bill could also have a positive impact on the construction & demolition materials reprocessing industry, including stocks such as Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF), which is focused on the sustainable recovery and reprocessing of asphalt shingles, Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Lowe’s Companies Inc. (NYSE: LOW), and Home Depot Inc. (NYSE: HD).

Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example

Northstar Clean Technologies Inc. announce that its wholly owned subsidiary Empower Environmental Solutions Calgary Ltd. has signed a non-binding letter of intent for a potential long-term 15-year lease for an industrial zoned property of 3.98 acres located in Greater Calgary, Alberta as the site for the Company’s planned scale-up facility. The LOI is for an initial term of 15 years, with two extension options of five years each. The 125m x 125m site is strategically located just outside of metropolitan Calgary, easily accessed 4.4km southeast of the City of Calgary East Landfill.

The Company is expected to have access to the site starting July 1, 2023. The Property is currently zoned as industrial; however, the standard change of land-use development permit application required by the municipality was submitted on August 2, 2022 and is expected to be received in the next 45 days. The lease also allows for certain improvements to be made and financed under the lease at Northstar’s discretion.

Mr. Aidan Mills, President & CEO and Director of Northstar, stated, “We are excited to have identified a suitable site for our Calgary Scale-Up Facility, conveniently located near the existing City of Calgary East Landfill. We believe securing the lease will allow us to grow the Company and make long-term decisions. We are proceeding forward on negotiating the official lease agreement and will provide an update to the market in due course. This location gives us not only the space we need for the Calgary Empower Facility, but also makes disposal of single use asphalt shingles and pick up of our end products convenient for our customers and partners.”

Mr. Allen Gervais, General Manager of Alberta for Northstar, stated, “We searched extensively across Greater Calgary for the last 6 months to find a suitable property for our planned Calgary Empower Facility. We identified this particular site as attractive for the following reasons: (i) easy access from major transportation routes, (ii) located close to residential areas where the shingles typically come from, (iii) located close to the nearby City of Calgary East Landfill where the shingles are typically hauled to, (iv) located close to industry partners and (v) it is a well-developed industrial area.”

Jon C. Mook, Founder and President of the Mook Group of Companies, stated “We are very excited to have Northstar Clean Technologies as a tenant in our portfolio and to be a partner in Northstar’s new facility in Rocky View County. Northstar’s requirements are familiar to us as we have similar tenants in our portfolio today and we believe we can add value working with them to create a start-of-art processing facility in Alberta that is focused on clean technology.”

Other related developments from around the markets include:

Owens Corning announced it has completed the acquisition of Natural Polymers, LLC, a manufacturer of spray polyurethane foam insulation for building and construction applications, based in Cortland, Illinois. “We are excited to welcome the Natural Polymers team and start working together on innovative product development,” said Insulation President Todd Fister. “Natural Polymers’ proven technology advances our strategy to provide long-term, sustainable solutions and offer our customers a diversified insulation product portfolio.” Owens Corning expects to significantly grow this business in the coming years. Natural Polymers’ track record of above-market growth is anticipated to contribute to Owens Corning’s strategy to strengthen core building and construction products and expand the company’s addressable markets into higher-growth segments.

Builders FirstSource Inc. announced it has acquired Trussway, a leading provider of pre-fabricated roof and floor trusses as well as value-added building components and services, including for the multifamily sector, with annualized sales of approximately $340 million. “We are thrilled that Trussway will now be an integral part of Builders FirstSource. Since 1972, Trussway has been a supplier of choice to customers due to its ability to routinely deliver high quality products and services,” said Dave Flitman, President and CEO of Builders FirstSource. “The addition of Trussway expands our footprint with our roof and floor truss offerings, including for multifamily customers, and enhances our value-added portfolio to better serve our customers and accelerate growth. We are excited to welcome the Trussway team, with its long-standing customer relationships and track record of profitable growth, into the Builders FirstSource family.”

Lowe’s Companies has declared a quarterly cash dividend of one dollar and five cents ($1.05) per share, payable Nov. 2, 2022 to shareholders of record as of Oct. 19, 2022.

Home Depot Inc. announced that its board of directors declared a second quarter cash dividend of $1.90 per share. The dividend is payable on September 15, 2022, to shareholders of record on the close of business on September 1, 2022. This is the 142nd consecutive quarter the company has paid a cash dividend. The board of directors also authorized a new $15 billion share repurchase program, replacing its previous authorization.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Northstar Clean Technologies Inc. by Northstar Clean Technologies Inc. We own ZERO shares of Northstar Clean Technologies Inc. Please click here for full disclaimer.

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