09:05 AM EST, 11/29/2024 (MT Newswires) -- Northstar Clean Technologies ( ROOOF ) on Friday said its third-quarter loss more than doubled on higher expenses.

The net loss widened to $3.2 million, or $0.03 per share, from last year's $1.4 million, or $0.01 per share. The increase was in part due to one time transaction costs of $1 million related to the royalty debenture that was issued during the quarter and higher expenses.

Revenue increased to $165,000, from $64,000.

"The third quarter of 2024 was highlighted by the announcement and closing of our royalty funding transaction with CVW. This is a monumental funding transaction for the cleantech space globally and highlights the interest in our technology solution for municipalities across Canada and the United States," said Northstar Chief Executive Aidan Mills.