Micro Cap Bolsters Patent Portfolio with Canadian Approval for Key Asphalt Recovery Tech
Obtaining a patent offers significant advantages for companies of all sizes. It not only prevents competitors from copying proprietary technology, products, or processes, but also enables companies to license or sell their patents. Additionally, patents provide valuable leverage in future partnerships, mergers, and legal disputes. Overall, securing a patent is a meaningful milestone in a company's business development.
Today, Northstar Clean Technologies Inc. (TSX-Venture: ROOF) (OTCQB: ROOOF) announced that they had been issued a follow-on patent by the Canadian Intellectual Patent Office for the Company's proprietary asphalt shingle reprocessing technology. The Patent relates to Stage 3 of the reprocessing technology, the asphalt recovery stage, and is expected to remain in force until 2042.
Northstar is a Canadian clean technology company focused on the sustainable recovery and reprocessing of asphalt shingles. Northstar developed and owns a proprietary design process for taking discarded asphalt shingles, otherwise destined for already over-crowded landfills, and extracts the liquid asphalt for use in new hot mix asphalt shingle manufacturing and asphalt flat roof systems while also extracting aggregate and fiber for use in construction products and other industrial applications.
"As a clear first mover in this emerging industry, securing further patents for Northstar's reprocessing technology is a critical step in securing, reinforcing and sustaining our technological advantage," commented Aidan Mills, Northstar President & CEO. "The latest patent protects a key part of our recovery process at the heart of our business, just as we prepare to commence commercial production in mid-2025 at our Calgary facility, a significant milestone for the Company. With this additional Canadian patent to protect the core technology of the Company, and additional patents progressing in the US and other international jurisdictions, we are well-positioned to sustain our leading position as the industry continues to develop."
Northstar received its initial Canadian patent in July 2024 which followed two patents issued in the United States in November 2022 and May 2024. The Company continues to pursue patent protection for its proprietary asphalt shingle reprocessing technology in North America and other international jurisdictions.
Despite a lousy day on the broader markets, shares of Canadian listed ROOF were up 1.56% at $0.325 while U.S. listed shares (ROOOF) slid 2.55% at $0.2251 in mid afternoon trading.
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