- CVW CleanTech Inc. (CVW) (CVWFF, Financial) secured a $14 million royalty financing transaction with Northstar Clean Technologies, generating $435,000 in revenue.
- The company reported a strong cash position of $5.2 million as of December 31, 2024, despite a net loss of $3.9 million or $0.03 per share for the fiscal year.
- CVW CleanTech has developed a substantial royalty pipeline valued at over $550 million, with more than 45 opportunities under evaluation across multiple sectors.
CVW CleanTech Inc. (TSXV: CVW) (OTCQX: CVWFF) has announced its financial results for the fiscal year 2024, marking a significant milestone with the completion of its first royalty financing transaction worth $14 million with Northstar Clean Technologies. This initiative brought in $435,000 in revenue for the company. The transaction was supported by an upsized brokered private placement that raised $16.8 million.
As of December 31, 2024, CVW CleanTech held a cash position of $5.2 million. However, the company reported a net loss of $3.9 million, translating to a loss of $0.03 per share. Despite the loss, the company remains optimistic about its financial outlook based on the strong royalty pipeline they have built, which is valued at over $550 million with more than 45 potential opportunities under consideration.
The construction of Northstar's Calgary facility is almost complete, with commissioning expected to finish by the end of the second quarter of 2025. The facility is anticipated to commence commercial operations in 2025, according to CEO Akshay Dubey, who highlighted the transformational nature of the past year for CVW CleanTech and the progress made at Northstar's facility.
CVW CleanTech is focused on advancing its proprietary "Creating Value From Wasteâ„¢" technology, which aims at recovering bitumen, solvents, critical minerals, and water from oil sands froth treatment tailings, thereby aiding in environmental sustainability and promoting the company's commitment to the transition towards net-zero emissions.
