Northstar Clean Technologies (ROOF) Q1 2025 earnings summary

Executive summary

• Completed construction and began commissioning of the Empower Calgary Facility, with full operations expected mid-2025.

• Advanced expansion plans in Hamilton, Ontario, and continued site selection for a US facility.

• Secured a 15-year lease for the Delta, BC site, enabling future commercial-scale retrofitting.

Financial highlights

• Loss and comprehensive loss for Q1 2025 was CAD $2.95 million, up from $1.58 million year-over-year.

• Net cash used in operating activities was $2.34 million, compared to $1.20 million in Q1 2024.

• Capital expenditures rose to $4.08 million from $1.85 million year-over-year.

Outlook and guidance

• Empower Calgary Facility expected to commence operations mid-2025.

• Expansion into Hamilton, Ontario, and the US remains a strategic focus.