Northstar Clean Technologies Inc. has released its financial and operational results for the first quarter of 2025. The company reported a loss and comprehensive loss of CAD 2.95 million, a significant increase from the CAD 1.58 million loss reported in the same quarter of 2024. The net cash flow used in operating activities also rose to CAD 2.34 million from CAD 1.20 million in the prior year. Capital expenditures for the quarter amounted to CAD 4.08 million, more than doubling from the CAD 1.85 million reported in the first quarter of the previous year. The company faced a working capital deficit of CAD 426,551, contrasting with a surplus of CAD 3.44 million in the same period of 2024. On the financing front, Northstar successfully received CAD 3.9 million from Emissions Reduction Alberta and CAD 617 thousand from the Business Development Bank project loan facility, subsequent to the quarter-end. Additionally, the company received CAD 248 thousand during the quarter from the exercise of stock options and warrants. In terms of operational development, Northstar continued to expand its business model, notably with the Empower Hamilton Facility. The company executed a letter of intent with YORK1 Environmental Waste Solutions Ltd. to supply up to 10,000 tonnes of waste roofing shingles, marking a crucial step in establishing a working facility. Looking forward, Northstar is focused on continuing its expansion efforts and securing further supply agreements to support its planned facility in Hamilton, Ontario.
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