- Construction of Phase 1, the Thorold Facility's first commercial-scale biocarbon production line, has reached mechanical and electrical substantial completion, clearing the way for the Facility's transition to commercial operations
- The Thorold Facility now moves into end-to-end commissioning, with commercial ramp-up targeted through October with production and revenue increasing through calendar year-end 2026
- When the Thorold Facility begins producing renewable natural gas ("RNG") it will be the first in the world to produce RNG and biocarbon simultaneously from wood waste
TORONTO, ON / ACCESS Newswire / October 1, 2026 / CHAR Technologies Ltd. ("CHAR Tech" or the "Company") (TSXV:YES)(OTC PINK:CTRNF)(FSE:68K), a leader in sustainable biomass energy solutions, is pleased to announce the substantial completion of Phase 1 mechanical and electrical construction at its Thorold Renewable Energy Facility (the "Thorold Facility"), the Company's first commercial renewable energy and biocarbon production facility, jointly owned 50/50 between the Company and The BMI Group ("BMI"). The Thorold Facility will now move to commercial production of biocarbon achieving the facility's first commercial revenues.
The Thorold Facility has achieved substantial mechanical and electrical completion and is ready for full end-to-end operational kick-off and ramp-up. The immediate next steps are for the Electrical Safety Authority ("ESA") and the Technical Standards and Safety Authority ("TSSA") to provide final approvals as each system is brought fully online and up to temperature for commercial biocarbon and pyrolysis gas production.
The Company is on track with the timeline set out in its August update, with commercial operations ramping up through October and production and revenue increasing through the end of 2026 as the Thorold Facility moves toward its full Phase 1 run-rate. Phase 1 is designed to produce up to 5,500 tonnes of biocarbon per year, supplying customers including ArcelorMittal Dofasco, which will use it to replace fossil carbon in its steelmaking under the previously announced offtake agreement.
Reaching this milestone reflects the partnerships CHAR Tech has built across its value chain, including feedstock suppliers, joint venture partners, and offtake partners in the steelmaking and ferrosilicon sectors.
With the substantial completion of Phase 1 mechanical and electrical construction, the Company intends to proceed with Phase 2 construction, which includes installation of a second HTP kiln, addition of methanation equipment to upgrade synthetic gas into RNG, and construction of an onsite RNG pipeline injection point.
"Completing Phase 1 at Thorold marks a critical milestone for CHAR Tech as the Facility transitions to first revenues and establishing ourselves as a leader in the biocarbon industry," said Andrew White, Chief Executive Officer of CHAR Tech. "The journey has not been a straight line, and the perseverance of our team, our partners and our shareholders has been critical to reaching this point. There is still hard work ahead as we move towards the RNG phase of construction and production, but this is an enormous leap forward towards that ultimate goal."
QUICK FACTS
- In December 2022, the Government of Ontario announced approved funding of $6,438,168 for the project through the Forest Sector Investment and Innovation Program, a business support program designed to improve productivity and innovation, enhance competitiveness, support new market access and strengthen regional economies.
- In December 2025, the Government of Ontario announced approved funding of $2,259,142 for the project through the Forest Biomass Program, a business support program that is a key element of Ontario's actions to drive forest sector growth.
- The Government of Canada provided $4,938,168 for the project through the Investments in Forest Industry Transformation program and also provided $1,500,000 for the project through the Federal Economic Development Agency for Southern Ontario Jobs and Growth Fund.
- The BMI Group made a $8,000,000 project-level equity investment directly into the CHAR Tech Thorold Renewable Energy Facility, resulting in 50/50 ownership of the facility between CHAR Tech and BMI.
About CHAR Technologies Ltd.
CHAR Tech (TSXV:YES)(OTC:CTRNF)(FSE:68K) is a Canadian clean-technology company developing first-in-kind high-temperature pyrolysis ("HTP") systems that process unmerchantable wood and organic waste to generate two renewable energy revenue streams, renewable natural gas or green hydrogen, and a solid biocarbon that serves as a carbon-neutral, drop-in replacement for metallurgical coal.
CHAR Tech's HTP platform is also advancing a new vertical focused on the permanent destruction of PFAS in wastewater biosolids. Operating at temperatures sufficient to break down long-chain fluorinated compounds, the system enables municipalities and industrial operators to eliminate PFAS while converting biosolids into energy and low-carbon solid products.
For further information, please contact:
| Andrew White Chief Executive Officer CHAR Technologies Ltd. E: andrew.white@chartechnologies.com T: 866 521-3654 | Galen Cranston Director of Stakeholder Relations CHAR Technologies Ltd. E: gcranston@chartechnologies.com T: 647-546-5633 |
Website: www.chartechnologies.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this news release.
Forward-Looking Statements
Statements contained in this press release contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements") about CHAR and its business and operations. The words "may", "would", "will", "intend", "anticipate", "expect" and similar expressions as they relate to CHAR Tech, are intended to identify forward-looking information. Forward-looking statements include, but are not limited to, statements relating to the timing of regulatory approvals, commissioning and commercial ramp-up of the Thorold Facility, the technical and market validation of the Company's HTP process and biocarbon products, the timing of Phase 2 construction and RNG production, securing project financing, expectations regarding the feedstock supply and offtake agreements, future plans, operations and activities, expectations regarding the scale up of production, and other statements that are not historical facts. Such statements reflect CHAR Tech's current views and ?intentions with respect to future events, and current information available to CHAR Tech, and are subject to ?certain risks, uncertainties and assumptions, including, among others, those risk factors discussed or referred to in CHAR Tech's disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management Discussion & Analysis dated January 27th, 2026 for the fiscal year ended September 30, 2025, and available under CHAR Tech's profile on www.sedarplus.ca. Any such forward-looking information is expressly qualified in its ?entirety by this cautionary statement. Moreover, CHAR Tech 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 Tech undertakes no obligation to publicly update or revise ?any forward-looking information, other than as required by applicable law.
SOURCE: CHAR Technologies Ltd.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/char-tech-completes-thorold-phase-1-pioneering-project-now-set-for-commercial-bio-1229940
