CVW CleanTech Announces First Quarter 2025 Results
Press Release
CALGARY, ALBERTA – (May 21, 2025) – CVW CleanTech Inc. (the “Company” or “CVW CleanTech”) (TSX-V: CVW, OTCQX: CVWFF, FRA: TMD0) 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”.
For further information, please contact:
Akshay Dubey
CEO
403.460.8135
Akshay.Dubey@CVWCleanTech.com
Joshua Grant
CFO
403.460.8135
Joshua.Grant@CVWCleanTech.com
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