ROOF-V has been developing its patented process for 10 years.
Process proven with Pilot plant in BC for recycling used asphalt shingles back to its basic components.
No other asphalt shingles recycling commercial process other than marginal RAS ie grinded shingles mixed in for roads.
1st commercial plant under construction for delivery early 2025 and commissioning before Q2 2025.
April 2023 FEED study forecast 5.3M$ EBITDA per plant. Cost of a plant is 15M$ CAPEX + 5M$ associated costs.
5.3M$ EBITDA is for shift. You can run a plant at 2 shifts per day for 2X the EBITDA.
There is 16.5M tons of used roof asphalt shingles discarded in landfills in North-America. This would require 200+ plants x 10M$ EBITDA.
2/3rd of profitability is 100% margin discounted tipping fees received for taking custody of used shingles instead of the landfill.
1/3rd of profitability is 95% from selling output liquid asphalt to paving, roofing or shingles manufacturers companies.
Lots of derisking with agreements with major counterparties for input (ECCO, IKO, TAMKO), output (TAMKO, McAsphalt) and financing (10M$ participation from strategic TAMKO, BDC, ERA grant, CVW royalties).
Fully financed to end of 2025 and probably not much dilution needed even after that.
WHY NOW? Because once Calgary plant is commissioned (next 6-7 months) and FEED study numbers confirmed, it's Copy & Paste plants wherever you have an urban area of 1M+ people. 10% market chare of 200 plants is 20 plants X 10M$ EBITDA = 200M$ while current market cap is 43.9M$ (62.3M$ fd).
https://youtu.be/jUlo5ywZWgY?si=o9n9OwU07bj5h2K-