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Northstar Clean Technologies to supply TAMKO Building Products’ Frederick production facility
Northstar Clean Technologies to supply TAMKO Building Products’ Frederick production facility
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Northstar Clean Technologies Inc. and its investor, TAMKO Building Products LLC, Thursday announced Northstar’s first U.S. asphalt shingle reprocessing facility will supply TAMKO’s asphalt shingle production facility located in Frederick.
After a comprehensive review of several potential market options for the Northstar U.S. Expansion Facility, the Northstar’s board of directors approved the nominated choice for the mid-Atlantic region, which encompasses Maryland, Delaware, Pennsylvania, New Jersey, New York and parts of Virginia and West Virginia.
Over the upcoming months, Northstar and TAMKO will work together to find the ideal location for both the optimal supply to TAMKO’s asphalt shingle production facility in Frederick and Northstar’s processing and recovery facility for asphalt shingles. This collaborative effort has the goal of delivering the optimal site for Northstar’s first U.S. facility.
On July 31, 2023, Northstar announced a $10 million investment from TAMKO’s subsidiary, Allmine Paving LLC, which included two phases: $6.4 million of preferred shares and $3.6 million of unsecured three-year debentures, which is to be purchased in two tranches and conditional on the attainment of certain milestones.
