CVW CleanTech Announces First Quarter 2025 Results
CVW CleanTech Announces First Quarter 2025
Results
Calgary, Alberta--(Newsfile Corp. - May 21, 2025) -
CVW CleanTech Inc. (TSXV: CVW) (OTCQX:
CVWFF) (FSE: TMD0) (the "Company" or "CVW CleanTech")
today announced its operating and
financial results for the three months ended March 31, 2025. For complete details, please refer to the Q1
2025 Condensed Interim Financial Statements and associated Management's Discussion and Analysis,
available on SEDAR+:
www.sedarplus.ca
or on the Company's website:
www.CVWCleanTech.com
.
Highlights
Cash on hand as at March 31, 2025 was $4.6 million. The Company continues to allocate capital
strategically, focusing on initiatives that support the advancement of its CVW™ technology and
broader royalty strategy.
Total revenue from the Company's royalty debenture with Northstar Clean Technologies Inc.
("Northstar") was $0.4 million for the three-month period ended March 31, 2025.
In March 2025, Northstar confirmed its decision to capitalize the coupon on the royalty debenture
for the period from September 13, 2024 to March 12, 2025. As a result, the accrued coupon
amounting to $0.7 million was added to the principal balance of the royalty debenture for a total
principal balance of $14.7 million.
Net loss for the three-month period ended March 31, 2025 was $0.8 million and the net loss per
share was $0.01 (basic and diluted) for the same period. Non-cash charges recognized for stock-
based compensation expense totaled $0.5 million for the three-month period ended March 31,
2025.
Northstar recently announced that Emissions Reduction Alberta has independently verified the
completion of construction at its Calgary facility and accordingly has provided Northstar with a $3.9
million milestone payment. CVW CleanTech expects additional positive developments by the end of this
year as Northstar moves towards making a final investment decision to build their next facility. The
Company is also making meaningful progress in its royalty strategy, having built a robust pipeline of
royalty opportunities representing over $550 million in potential transaction value.
"The completion of construction at the Calgary facility demonstrates Northstar's project execution
capabilities," said Akshay Dubey, CEO of CVW CleanTech. "This milestone brings us closer to realizing
shareholder value from our royalty with Northstar as they look to expand and build their next two
facilities."
About CVW CleanTech Inc.
CVW CleanTech
invests in innovative technologies which provide returns linked to commodities and
which operate in a sustainable manner to help accelerate the world's transition to net zero. CVW
CleanTech is building a portfolio of royalty-based cash flow streams by partnering with clean technology
innovators in the commodity space. CVW CleanTech is also the 100% owner of its proprietary
technology, Creating Value from Waste™, which is designed to recover bitumen, solvents, critical
minerals, and water from oil sands froth treatment tailings, which would reduce tailings pond fugitive
methane emissions, volatile organic compounds (VOCs), and enhance tailings management for
Alberta's oil sands.
Additional information on CVW™ can be found within the Company's Process and Technology Overview
which is accessible using the link below:
https://cvwtechnology.com/technology/process-and-technology-overview/
CVW CleanTech trades on the TSX Venture Exchange under the symbol "CVW", on the OTCQX under
"CVWFF", and on the Frankfurt Stock Exchange under the symbol "TMD0".
Disclosure regarding forward-looking information
This news release contains forward-looking statements and information within the meaning of
applicable Canadian securities laws (collectively,
"
forward-looking information
"
) that reflect the current
expectations of management about the future results, performance, achievements, prospects, or
opportunities for CVW CleanTech.
Forward-looking statements are frequently, but not always, identified by words such as
"
expects
"
,
"
anticipates
"
,
"
believes
"
,
"
intends
"
,
"
estimates
"
,
"
potential
"
,
"
possible
"
and similar expressions, or
statements that events, conditions or results
"
will
"
,
"
may
"
,
"
could
"
or
"
should
"
occur or be achieved.
The forward-looking statements may include statements regarding the anticipated benefits of the
adoption and commercialization of CVW™ technology, the chemical, material, financial, economic,
operational, environmental and any other anticipated results of the adoption thereof, potential
diversification strategies and the implementation and results thereof, expectations regarding future
development, funding (including necessity, sources, and expected structure of the same) and
contracted work, expectation as to the timeline on which any goals of the Company will be met,
expectations regarding the key economic and policy drivers supporting the adoption of CVW
CleanTech's technology, expectations regarding synergies or alignments between the business of the
Company and any other organization, CVW CleanTech's research and development and
commercialization plans, the advantages of the Company's technology, the Company's ongoing
engagement with stakeholders, including business development activities, the development of
networks with strategic partners, and the development of Company's relationships with Indigenous
communities and any potential benefits for the same, potential financing opportunities, including grant
and financing opportunities from applicable government programs and non-governmental
organizations, and entering into funding agreements related thereto, any expected next steps for the
Company, timelines, strategic plans, the scope of any activities that will be undertaken, the closing of
the Transaction and Offering on the terms described previously or at all, the Company's future
liquidity situation and the market prices of commodities or other statements that are not statement of
fact. Forward-looking statements are statements about the future and are inherently uncertain, and
actual achievements of the Company may differ materially from those reflected in forward-looking
statements due to a variety of risks, uncertainties and other factors. For the reasons set forth above,
investors should not place undue reliance on forward-looking statements. Important factors that could
cause actual results to differ materially from the Company's expectations include: uncertainties
involved in disputes and litigation, fluctuations in interest rates, commodity prices and currency
exchange rates; changes in the availability, and cost, of technical labour required for the success of
the Company's products and services; price escalation and/or inflationary pressures affecting the cost
of equipment and material required to commercialize the same; the uncertainty of estimates of capital
and operating costs; the need to obtain additional financing and uncertainty as to the availability and
terms of future financing; the impact on the Company of increasing inflation; any change in
government policy, programs, and funding opportunities, whether provincial, national, or international
which could negatively affect the Company, and any failure of the same to continue to evolve in
accordance with Company's expectations; any change in capital or commodity markets, whether
generally or particularly in the clean technology sector, which could cause or compel the Company to
adjust its goals, reallocate capital, and/or pursue alternative financing options; and other risks and
uncertainties disclosed in other information released by the Company from time to time and filed with
the appropriate regulatory agencies.
All forward looking statements are based on the Company's beliefs and assumptions which are based
on information available at the time these assumptions are made. The Company has made the
following assumptions in relation to the forward-looking statements in this press release: the expected
environmental and economic benefits to be achieved from CVW™ technology; the ability of the
Company to successfully access various government funding programs; the details of government
funding programs and that such programs will be implemented (and not change) as expected; that the
Company will continue to be able to protect its intellectual property; assumptions as to various market
and commercial opportunities for the Company and its technology; and the ability of the Company to
continue to develop and commercialize its technology; that market conditions will not change
adversely so as to prevent the closing of the Transaction and Offering on the terms previously
described or at all. The forward-looking statements contained herein are as of the date set out above
and are subject to change after this date, and the Company assumes no obligation to publicly update
or revise the statements to reflect new events or circumstances, except as may be required pursuant
to applicable laws.
Although management believes that the expectations represented by such forward-looking
information or statements are reasonable, there is significant risk that the forward-looking information
or statements may not be achieved, and the underlying assumptions thereto will not prove to be
accurate. Actual results or events could differ materially from the plans, intentions and expectations
expressed or implied in any forward-looking information or statements, including the underlying
assumptions thereto, as a result of numerous risks, uncertainties and factors including: failure to
obtain regulatory approvals; the possibility that opportunities will arise that require more cash than the
Company has or can reasonably obtain; dependence on key personnel; dependence on corporate
collaborations; potential delays; uncertainties related to early stage of technology and product
development; uncertainties as to fluctuation of the stock market; uncertainties as to future expense
levels and the possibility of unanticipated costs or expenses or cost overruns; and other risks and
uncertainties which may not be described herein.
For further information, please contact:
Akshay Dubey
Joshua Grant
CEO
403.460.8135
CFO
403.460.8135
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/252890