TORONTO, ONTARIO, December 2nd, 2024 (GLOBENEWSWIRE) – CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to provide project updates for 2024.
Synagro PFAS Elimination Project
CHAR Tech and Synagro Technologies, Inc. (“Synagro”), a preeminent provider of biosolid and residual solutions services, have reached an exciting milestone of the previously announced project to eliminate PFAS “forever chemicals” from wastewater biosolids to generate biochar and renewable energy (“the Project”).
Synagro has completed major civil work and has accepted the delivery of CHAR Tech’s high temperature pyrolysis (HTP) process equipment essential to complete the Project. For an early look at the installation, refer to CHAR’s monthly newsletter.
Looking ahead, Synagro and CHAR Tech are targeting project completion early in the New Year. Once operational, the Project will represent a groundbreaking achievement for CHAR Tech as its first HTP deployment in the United States. Both Synagro and CHAR Tech are eager to demonstrate the environmental and economic benefits of this state-of-the-art system, paving the way for further deployments.
Thorold Renewable Energy Facility
The Thorold facility has received major feedstock handling and processing equipment to site, including receiving bins, storage bins, magnet separator and hammermill. Additionally, the biomass dryer has passed factory acceptance testing and is ready to ship to site. With the equipment on site, CHAR Tech can progress on the civil and mechanical installation work preparing to complete the commercial biocoal production line in 2025.
Biocarbon Offtake Agreements
Throughout 2024, CHAR Tech made significant strides in strengthening its position as a commercially validated biocarbon supplier. Building on this momentum, the company continues to forge key global relationships with major players in steel manufacturing and other heavy industry.
CHAR Tech is well-positioned to capitalize on increasing demand for biocarbon and is projecting the execution of additional biocarbon offtake agreements to support the development of additional facilities, including the Lake Nipigon Forest Renewable Energy Facility.
Lake Nipigon Forest Renewable Energy Facility
CHAR Tech and Lake Nipigon Forest Management Inc. (LNFMI), building on the previously announced Indigenous partnership, are excited to announce that the initial engineering package is complete, which will guide the development phases of CHAR Tech’s second build own operate renewable energy facility, north of Thunder Bay.
Additionally, CHAR Tech and LNFMI are projecting to finalize the long-term wood waste feedstock supply agreement in Q1 2025. The Lake Nipigon facility is on track for the targeted 2025 construction start.