Northstar Clean Technologies to supply TAMKO Building Products’ Frederick production facility – Maryland Daily Record
Northstar Clean Technologies to supply TAMKO Building Products’ Frederick production facility Maryland Daily Record
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Sustainable Development Goals (SDGs)
Northstar Clean Technologies and TAMKO Building Products Announce Partnership
Northstar Clean Technologies Inc. and its investor, TAMKO Building Products LLC, have announced their collaboration to establish Northstar’s first U.S. asphalt shingle reprocessing facility. This facility will supply TAMKO’s asphalt shingle production facility located in Frederick.
Selection of the Mid-Atlantic Region
After conducting a comprehensive review of various potential market options for the Northstar U.S. Expansion Facility, the board of directors at Northstar has approved the selection of the mid-Atlantic region. This region includes Maryland, Delaware, Pennsylvania, New Jersey, New York, as well as parts of Virginia and West Virginia.
Collaborative Effort for Optimal Location
In the coming months, Northstar and TAMKO will work together to identify the ideal location for both the supply to TAMKO’s asphalt shingle production facility in Frederick and Northstar’s processing and recovery facility for asphalt shingles. This collaborative effort aims to find the most suitable site for Northstar’s first U.S. facility.
Investment from TAMKO’s Subsidiary
On July 31, 2023, Northstar announced a $10 million investment from TAMKO’s subsidiary, Allmine Paving LLC. This investment includes two phases: $6.4 million of preferred shares and $3.6 million of unsecured three-year debentures. The purchase of the debentures will be done in two tranches and is conditional upon the achievement of specific milestones.
SDGs, Targets and Indicators
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SDG 9: Industry, Innovation, and Infrastructure
- Target 9.4: By 2030, upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
- Indicator: The establishment of Northstar Clean Technologies’ first U.S. asphalt shingle reprocessing facility, which aims to supply TAMKO’s asphalt shingle production facility.
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SDG 11: Sustainable Cities and Communities
- Target 11.3: By 2030, enhance inclusive and sustainable urbanization and capacity for participatory, integrated, and sustainable human settlement planning and management in all countries.
- Indicator: The collaborative effort between Northstar and TAMKO to find the ideal location for Northstar’s processing and recovery facility for asphalt shingles, aiming to deliver the optimal site for Northstar’s first U.S. facility.
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Source: thedailyrecord.com
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