Toronto, Ontario –February 24, 2022
CHAR Technologies Ltd. (“CHAR” or “Company”) (YES – TSXV) announces it has been selected to the TSX Venture 50 as a top performer in the Clean Technology and Life Sciences industry. The TSX Venture 50 is a ranking of the top performers on the TSX Venture Exchange over the past year in five industry sectors. Companies selected for 2021’s TSX Venture 50 have demonstrated their ability to access capital for growth and scale up their business for success.
During 2021, CHAR made significant progress with the following projects and milestones:
- Closed $6 million private placement.
- Received 1,000 tonne biocoal order from major Canadian steel company.
- Signed an agreement with Hitachi Zosen Inova for California high temperature pyrolysis (HTP) anaerobic digestate to green hydrogen project.
- Began upgrades to existing HTP facility to produce renewable natural gas (RNG).
- Signed an exclusive technology licensing agreement with CHAR’s principal kiln technology supplier, Anergy, a global waste transformation leader.
- Commenced surveying and geotechnical testing at the proposed site of its woody biomass to RNG HTP project in Kirkland Lake, Ont.
Building on 2021’s strong growth CHAR announced an additional HTP system at an existing biomass cogeneration facility in Saint-Félicien, Québec. This system will leverage existing biomass handling and processing equipment operated for the Centre de Valorisation de la Biomasse du Domaine-du-Roy (“CVB”), a public-private consortium between the local municipality (the MRC du Domaine-du-Roy), the Société de Cogénération de Saint-Félicien (SCSF, owned by Greenleaf Power) and CharTech Solutions (Char’s 100-per-cent wholly owned subsidiary).
“We are pleased to be recognized by the TSX Venture Exchange as a top performer in the Clean Technology space,” said Andrew White, CHAR’s CEO. “This year has really seen our development projects accelerate, and really gaining market traction in our key growth verticals of biocarbon and biocoal, renewable natural gas, and anaerobic digestate management to produce green hydrogen. In 2022, we will see delivery on projects as we continue to solidify our market leading position.”
CHAR Technologies Ltd. is a cleantech development and services company, specializing in organic waste pyrolysis and biocarbon development, custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, environmental compliance and resource efficiency.
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Statements contained in this press release contain “forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”) about CHAR and is business and operations. The words “may”, “would”, “could”, “should”, “potential”, “proposed”, “earmarked”, “will”, “seek”, “intend”, “plan”, “anticipate”, ”believe”, “estimate”, “expect” and similar expressions as they relate to CHAR, are intended to identify forward-looking information. Such statements reflect CHAR’s current views and intentions with respect to future events, and current information available to CHAR, and are subject to certain risks, uncertainties and assumptions, including those risk factors discussed or referred to in CHAR’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management Discussion & Analysis dated January 27, 2021 and available under CHAR’s profile on www.sedar.com. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, CHAR does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and CHAR undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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.