Around the world, leaders are working towards zero waste. Globally, for example, the Zero Waste International Alliance was “established to promote positive alternatives to landfill and incineration and to raise community awareness of the social and economic benefits to be gained when waste is regarded as a resource base upon which can be built both employment and business opportunity.” In parts of the United States, zero waste programs are being set up to phase out waste entirely. Even Metro Vancouver has a goal of zero waste by 2040. In fact, according to Vancouver.ca, “As a city we've committed to conserve resources, prevent waste of all types, including wasted food at all points between farm and table, compost inedible food or convert it into fuel, repair and maintain products and materials to extend their lives, and share, reuse, and refurbish products and materials before recycling them.” All could be beneficial for companies that deal with recyclable material, such as asphalt shingles, like Northstar Clean Technologies (TSXV: ROOF) (OTCQB: ROOOF). Other shingles stocks to be aware of in the market include Owens Corning (NYSE: OC), Builders FirstSource Inc. (NYSE: BLDR), Beacon Roofing Supply Inc. (NASDAQ: BECN), and Home Depot Inc. (NYSE: HD).
Look at Northstar Clean Technologies Inc. (TSXV: ROOF) (OTCQB: ROOOF) For Example
Northstar Clean Technologies Inc. just announced that its wholly-owned subsidiary Empower Environmental Solutions Ltd. has received its brokering license from Metro Vancouver. The Brokering License allows Empower to handle recyclable material, specifically asphalt shingles, at its facility in Delta, British Columbia, and to collect ‘tipping fees' on the deposit of “end of life” or “post-consumer” asphalt shingles.
Aidan Mills, President & CEO and Director of Northstar, states, “This is an important step for Northstar and our Empower Pilot Facility. We are pleased to receive our Brokering License from Metro Vancouver, which allows us to begin collecting discarded asphalt shingles and charging tipping fees at our Empower Pilot Facility. We receive numerous ongoing enquiries from potential customers, municipalities, and manufacturers on our ability to collect shingles – and the award of this license enables that to be fully realized. This lays the platform for us to contribute to assisting Metro Vancouver in its quest towards zero waste by 2040, by providing a diversion alternative for single-use asphalt shingles that would otherwise be discarded in landfill. We believe we are strongly positioned to become a national solution to the burgeoning problem of asphalt shingle waste.”
As of August 2, 2022, tipping fees for construction and demolition waste at the Vancouver landfill located in Delta, British Columbia, are approximately C$130 per tonne. The Vancouver Landfill is approximately 9 kilometres from the Company’s Empower Pilot Facility and approximately 30 kilometres from downtown Vancouver.
Sales Strategy for Collection of Asphalt Shingles
With the Brokering License issued, the Company plans to now begin collecting shingles from waste hauling companies and roofing contractors. Tipping fees charged to customers will depend on volume and term of shingle supply. The Company is also sourcing additional shingles from manufacturers who have shingles that do not meet specification requirements and would otherwise be deposited in landfills. The Company has also received numerous inbound inquiries from other municipal jurisdictions regarding the possible reprocessing of their asphalt shingle supply at the Empower Pilot Facility. Based on a 2012 report, the City of Vancouver has an estimated annual supply of 70,000 tonnes of asphalt shingles. The Company currently has an internally estimated stockpile onsite at its Empower Pilot Facility of approximately 10,000 tonnes.
Other related developments from around the markets include:
Owens Corning “delivered another outstanding quarter while advancing our enterprise strategy which accelerates our growth, strengthens our earnings power, and creates additional value for our shareholders. Our global teams continue to execute at a high level as we make strategic investments to expand our total addressable markets and enhance our market-leading positions,” said Chair and Chief Executive Officer Brian Chambers. “For the second half of the year, we remain focused on delivering strong financial results and positioning the company for long-term success.”
Builders FirstSource Inc. reported its results for the first quarter ended March 31, 2022. Dave Flitman, President and CEO of Builders FirstSource, commented, “We started the year out strong achieving another quarter of record net sales, gross margin and Adjusted EBITDA, while also producing strong core organic sales growth of 15%. In addition, we continue to make progress investing prudently in our operations and delivering outstanding service to our customers as we work to overcome the supply chain constraints that persist throughout our industry. Our efforts to broaden our value-added products, which saw core organic sales up 31%, alongside our strategic investments in digital, are helping our customers get their jobs done quickly, on time and cost-effectively. The success we have achieved is directly attributable to our hard working and dedicated team members who go above and beyond each day to help us maintain our position as an industry leader.”
Beacon Roofing Supply Inc. and Rebuilding Together announced today that they have established a two-year national partnership to provide home repairs for underserved neighbors in Beacon communities. Rebuilding Together is the leading national nonprofit organization with a vision to ensure safe homes and communities for everyone. The partnership will fund neighborhood projects in communities where Beacon operates as well as support Rebuilding Together’s national operations. “As a distributor of essential building products such as roofing and siding that ensure safe homes every day, partnering with Rebuilding Together allows us to work with these local community champions to create an impact,” commented Julian Francis, Beacon’s President & CEO. “We will bring our hearts, hands, and materials to support our neighbors thriving as families, aging safely in place, and preserving the value of their homes for the next generation.”
Home Depot Inc. reduced its combined Scope 1 and 2 carbon emissions by approximately 172,000 metric tons in 2021, equivalent to taking more than 37,000 cars off the road for a year. The company reduced its electricity consumption by approximately 11 percent year-over-year in U.S. stores – while at the same time opening five new stores – and cut U.S. store electricity usage by 50 percent since 2010. Home Depot paid record Fiscal 2021 Success Sharing bonuses to non-management associates of approximately $739 million. The company's U.S. associate base was once again more ethnically diverse than the U.S. working population; approximately 36 percent of its new hires were women, and more than 57 percent were ethnically diverse in 2021. Home Depot spent $3.3 billion with Tier I diverse suppliers in 2021 and announced a goal to spend $5 billion annually by 2025.
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