TORONTO, Oct. 08, 2025 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to provide an update on construction progress at its Thorold Renewable Energy Facility (“the Facility”). The project remains on track to complete construction of its commercial biocarbon production line by year-end, positioning the Company to advance toward renewable natural gas (“RNG”) production in 2026. Major components of the feedstock handling ...

Core Viewpoint - CHAR Technologies Ltd. has secured an $8 million equity investment from The BMI Group for the Thorold Renewable Energy Facility, establishing a 50/50 ownership structure between the two companies [1][3]. Funding Arrangement - The funding arrangement includes definitive transaction agreements such as a limited partnership agreement and contribution agreements, with CHAR Tech contributing construction progress, technology licenses, and engineering services [2]. - BMI's $8 million investment will be disbursed in monthly tranches to ensure positive cash flow for the Thorold Project, with all contributions expected to be completed by December 31, 2025 [3]. Project Phases - Phase 1 of the Thorold Project aims to enable commercial biocarbon production, with funding commitments now in place, targeting operational readiness by Q4 2025 [3]. - Phase 2 will focus on Renewable Natural Gas (RNG) production, leveraging Phase 1 equity to pursue non-recourse debt financing, with a goal to secure a debt package by Q4 2025 and target commissioning by Q3 2026 [7]. Strategic Partnerships and Investments - BMI has attracted over $200 million in direct investment to its Niagara projects, which have collectively drawn over $2 billion in additional investment since 2023 [4]. - Previous investments in CHAR Tech include a $12.8 million combined funding from Canadian and Ontario governments in 2022 and a $6.6 million strategic equity investment from ArcelorMittal's XCarb Innovation Fund in 2023 [6]. Leadership Insights - CHAR Tech's CEO expressed excitement about the project timeline and the potential for further renewable energy developments, while BMI's CEO highlighted the biomass-to-energy value chain as a high-growth opportunity in Canada [9].