CVW CleanTech Announces Full Year 2024 Results

CALGARY, ALBERTA – (April 23, 2025) – CVW CleanTech Inc. (the “Company” or “CVW CleanTech”) (TSX-V: CVW, OTCQX: CVWFF) today announced its operating and financial results for the year ended December 31, 2024. For complete details, please refer to the fiscal year 2024 Annual Audited Financial Statements and associated Management’s Discussion and Analysis, available on SEDAR+ or on the Company’s website www.CVWCleanTech.com.

Highlights

• During the year, the Company completed its first royalty financing transaction in the amount of $14.0 million with Northstar Clean Technologies Inc. (“Northstar”). The Company recognized $435,000 in revenue during the year from this royalty transaction.
• The royalty transaction was financed by a brokered private placement initially announced at $15.0 million and subsequently upsized to $16.8 million.
• Cash on hand as at December 31, 2024 was $5.2 million. Throughout 2024, the Company demonstrated prudent cash management, focusing resources on key deliverables to advance its royalty strategy including commercial opportunities for its proprietary Creating Value From Waste™ (“CVW™”) technology.
• Net loss for the year ended December 31, 2024 was $3.9 million and the net loss per share was $0.03 (basic and diluted) for the same period.

The commissioning of Northstar’s Calgary facility is progressing well. The plant has substantially completed construction and the first section of the plant has been commissioned, with commissioning currently underway on the remaining sections of the plant. Initial activities have displayed the effectiveness of Northstar’s process as shingles have been successfully ground to specification and are moving to the first section of the plant for processing. Northstar expects commissioning of the remaining units to be completed by the end of the second quarter. The project remains on track to begin commercial operations in 2025.

“This past year was a transformational year for the business as we developed our royalty strategy and completed our first proof-of-concept transaction with Northstar. We are also encouraged by the progress at Northstar’s Calgary facility consistent with our expectations,” said Akshay Dubey, CEO of CVW CleanTech. “This progress brings us closer to generating value for our shareholders through the royalty financing deployed during the year.”

CVW CleanTech has developed a strong royalty pipeline currently valued at over $550 million in potential transaction value, with more than 45 additional opportunities under evaluation. These royalty opportunities would generate revenue based on the production of commodity-like products and are within the hydrocarbons, materials and metals, and agriculture sectors.

“At the same time, we continue to relentlessly pursue the advancement of our proprietary Creating Value From Waste™ technology. We are encouraged by recent discussions with stakeholders, and are focused on ensuring commercial scale deployment moves ahead to deliver value to all stakeholders including the Company’s shareholders,” said Mr. Dubey.

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 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” and is available on the OTCQX under the symbol “CVWFF”.

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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