CHAR Tech Awarded $2.25 Million From Ontario to Accelerate Low-Carbon Biocarbon Pellet Commercialization

Core Viewpoint - CHAR Technologies Ltd. has received a $2.25 million non-repayable grant from the Ontario government to support the commercialization of biocarbon pellets, which serve as a renewable alternative to fossil carbon in steelmaking and heavy industrial applications [1][4]. Group 1: Company Developments - The grant will cover 50% of eligible project costs for the Thorold Renewable Energy Facility, aimed at accelerating the production of biocarbon pellets [1]. - CHAR Tech is optimizing biocarbon pellet production to enhance durability, density, and handling characteristics, which are essential for industrial use and long-distance transport [2]. - The expansion of the commercial pellet line is already in progress, with completion expected in 2026, coinciding with the installation of a second High Temperature Pyrolysis kiln [3]. Group 2: Industry Context - The Ontario Forest Biomass Program has committed over $50 million to more than 55 projects since its launch in 2023, supporting the growth of the forest sector and the development of renewable fuels [5]. - The government aims to protect forestry jobs and promote innovative businesses to harness the potential of forest biomass, positioning Ontario as a global leader in biocoal [4]. - The Forest Biomass Action Plan is designed to maximize the value of wood, create new revenue streams, and generate jobs within the forest sector [7].