u/sweejaa

CHAR Technologies (YES.V) just completed its BIGGEST milestone ever. Finishing the construction of their very 1st commercial facility. Now they ramp up commercial production over the next few months.

Phase 1 Thorold will be supplying 5,000 tonnes of biocarbon to ArcelorMittal (2nd largest steel company in the world, at their Dofasco plant in Hamilton).

Post from the news article: 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. (This will begin after phase 2 is done, which is expected to be done next year)

Not Financial advice.

CHAR Technologies (YES.V) just completed its BIGGEST milestone ever. Finishing the construction of their very 1st commercial facility. Now they ramp up commercial production over the next few months.

Phase 1 Thorold will be supplying 5,000 tonnes of biocarbon to ArcelorMittal (2nd largest steel company in the world, at their Dofasco plant in Hamilton).

CHAR Tech

Post

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. (This will begin after phase 2 is done, which is expected to be done next year)

Not Financial advice.

CHAR posted last week saying they are at the final step of mechanical installation at the Thorold facility after which they will perform end to end commissioning which will lead us into commercial production.

Commercial production will ramp up to 100% over Q4 2026. I am guessing that CHAR will eventually give us some sort of tonnes per day/month number for the biocarbon produced which will help us gauge that they are on track for 5,000 tonnes of biocarbon annually.

Immediately after the commercial production begins, we should hear from CHAR about Phase 2 of Thorold, likely some news about phase 2 financing and construction start with an estimated timeline.

We should also hear about Lake Nipigon project financing and construction start very soon.

There are also updates pending on the PFAS side of things along with updates on the Saguenay Pelletizing facility.

I assume we will get an investor call sometime in October where Andrew will share progress on all these items in more detail.

As always, stay tuned, I assume we will get big news this week ideally!

Not Financial advice.

Synagro (owned by a Goldman Sachs managed infrastructure fund) is a major North American biosolids company with 1,000+ municipal and industrial customers. CHAR has partnered with Synagro and the City of Baltimore on a commercial scale High Temperature Pyrolysis pilot to treat PFAS (forever chemicals) contaminated biosolids.

Testing of solids so far is focused on measuring PFAS concentrations before and after treatment, as well as confirming that PFAS is destroyed or otherwise not detected (detected below accepted levels) rather than simply transferred into another product stream. The next steps are to complete the pilot testing in the gases produced, validate the results across different biosolids feedstocks, and build the regulatory and commercial data package needed for broader deployment. (Target end of Q4 2026)

The opportunity is pretty big if the technology proves out. CHAR could potentially help wastewater operators deal with PFAS while turning the biosolids into useful products like biochar and syngas. The Baltimore project is now being used to build the data needed for broader commercial adoption.

Long term speculation (not finacial advice) is that Synagro will roll out CHARs technology at a bunch of their sites via a licensing deal. (One can hope)

Not financial advice.

The BMI group is partnered with CHAR Tech on 2 projects (Thorold and Espanola).

BMI in this video shares that the entire Espanola project (not just the site with CHAR) is a $400 million project.

In terms of financial support, the BMI Group has invested $2 million into CHAR Tech at the corporate level, $8 million into the Thorold project and committed another $10 million into the Espanola project. The BMI group has also extended CHAR Tech a $3 million Line of Credit.

Outside of financial support, the BMI Group is also helping develop and construct the projects themselves as they have the construction capacity to build these projects out.

BMI on many occasions have publicly expressed that they want to continue partnering with CHAR on future sites and continue growing the number of projects with CHAR Tech.

CHAR and BMI will celebrate starting the Thorold commercial operations in a few weeks. Stay tuned.

Not Financial advice.

ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and, 42.4 million tonnes of iron ore.

ArcelorMittal launched the XCarb Accelerator Programme in mid-2022. A search for the best companies and brightest breakthrough technologies that hold the potential to accelerate the decarbonisation of the steel industry. They received an overwhelmingly positive response, with over 90 start-ups from five different continents submitting applications.

The winner was CHAR Technologies who received $6.6 million (CAD) as an investment in 2023. Along with this, ArcelorMittal appointed Irina Gorbounova (Head of XCarb Innovation Fund) as a Board Member on CHARs Board.

ArcelorMittal Dofasco (Hamilton, Canadian operations) also signed an offtake agreement to buy 5,000 tonnes of Biocarbon from CHAR Technologies. This 5,000 tonnes of biocarbon will be supplied to ArcelorMittal via the Thorold facility who is turning on the commercial operations later this month.

All that being said, CHAR Techs technology and product have been vetted by ArcelorMittal as a fit to be a drop in replacement for fossil coal at their Dofasco plant.

Not Financial advice.

Who is the Bioveld North and the BMI Group?

Bioveld North Inc. is a wholly owned subsidiary of The BMI Group, a Canadian development and investment firm that specializes in acquiring and revitalizing strategic industrial assets. BMI acquired the former Domtar site in Espanola in late 2025 and brings mill-restart experience from projects in Port Huron, Michigan and the Niagara region. Its Pulp+ concept is designed to retool legacy forestry infrastructure into diversified, lower carbon bioproduct platforms anchored by Canadian ownership and partnership with local communities and First Nations.

Why is this great news for CHAR Technologies?

The BMI Group is partnering with CHAR Tech at their Espanola site for what will be CHAR Tech and BMIs largest partnership together producing upto 50,000 tonnes of biocarbon.

This Ontario grant of $5.1 million is welcomed as it will help BMI progress through the planning and study phases. This funding helps derisk the project and definitely helps increase the likelihood of progressing this project further.

Exciting times as this Espanola facility also progresses forward with the Thorold site almost ready to start commercial operations. (Both jointly owned by CHAR Tech and BMI Group)

The BMI group has plans for additional joint partnership facilities with CHAR Tech in addition to the Thorold and Espanola sites.

Not Financial advice.

Here's where each project sits:

Thorold (Ontario): This is the flagship facility and is the furthest along. The kiln is installed, and the feedstock handling line from biomass reception through contaminant removal and sizing, all the way to the kiln has been running continuously in automated mode during day shifts. Material handling is usually one of the trickier parts of getting one of these plants running, so having that line proven out is a good sign.

Next step is tying in the pyrogas line. Once that's connected, commissioning runs through to commercial operations, still targeted for end of September 2026, with production and revenue expected to increase through year-end as the facility ramps.

CHAR also mentioned they'll be hosting investor site tours this fall as part of upcoming investor days, this is worth watching for if you want eyes on the facility yourself.

Once Phase 1 is done, Phase 2 (second kiln to double capacity, methanation equipment for RNG, pipeline injection) is up next.

Baltimore PFAS destruction: This commercial level pilot is actively running right now. An independent lab testing (EPA Method 1633) found all 40 targeted PFAS compounds below detection limits in the biochar produced from the process. That's the solid phase confirmed. They're still testing the gas and liquid outputs, with a full data package targeted for submission to the EPA by end of Q4 2026. If this holds up across all phases it's a meaningful proof point for the PFAS destruction vertical.

Espanola (Ontario): This project is currently at the feasibility stage.

Partnering with BMI Group on this one, at a former pulp and paper site. An engineering and design study is expected to wrap up soon, which will define scope and capital needs. If it moves forward this would be a big facility up to 50,000 tonnes/year of biocarbon, about 5x Thorold's capacity.

Lake Nipigon (Ontario): This project in construction/development.

Partner LNFMI (a First Nations forestry co-op) has been building out site infrastructure, grading, roads, fencing, and they've finished chip drying tents for feedstock storage. Still advancing engineering and project financing conversations. Phase 1 target is 15,000 tonnes/year of biocarbon.

Saint-Félicien (Québec): This project is in development.

Backed by a $2.5M non-repayable Québec government grant. Nice positioning here since it's co-located at an existing industrial cogeneration site, so utilities are already in place.

Saguenay (Québec): Acquired from Elkem ASA back in April. This one's designed to take biochar from other sites (like Saint-Félicien) and turn it into pellets, targeting 15,000 tonnes/year of biocarbon pellets. Also comes with a 62,500-tonne, 5-year offtake agreement with Elkem.

Not Financial advice.

CANmet Energy (NRCan) put out a report on using biocarbon (made from wood waste) to replace coal and coke in steelmaking. The numbers: Canada's steel industry burns through 4.8 million tonnes of fossil coal every year, and switching to biocarbon could cut emissions by up to 8 million tonnes of CO2 annually.

The government is saying up to 20% of the fossil coal/ coke used in blast furnaces could realistically be swapped out for biocarbon right now, with that number likely growing as the tech improves.

This confirms CHAR Techs business model and that there's real, sizeable demand for what biocarbon producers like CHAR are doing and that its something the steel industry actually needs to hit its climate targets.

Link to the full report: https://natural-resources.canada.ca/sites/admin/files/documents/2026-08/Advanced-Solid-Biofuels\_EN\_Accessible.pdf

CISERA (Canadian Iron and Steel Energy Research Association) is a research group focused on metallurgical coal and coke for steelmaking. The current corporate members are ArcelorMittal Dofasco, Stelco, Elk Valley Resources, CanmetENERGY, and now CHAR Tech (YES).

CISERA's research covers coal science, cokemaking, alternative reductants/fuels, and carbon capture, areas directly relevant to CHAR's High Temperature Pyrolysis tech, which produces biocarbon that could serve as an alternative reductant in steelmaking.

ArcelorMittal already made a $6.6M investment in CHAR in 2023, and the two have a strategic partnership where ArcelorMittal buys CHAR's biocarbon to reduce emissions at its Hamilton steel plant.

This membership allows CHAR to be in the same room as Stelco and Elk Valley and CANmet Energy (part of NRCan), opening the door to similar partnerships beyond ArcelorMittal.

This is an educational post, not Financial advice.

CHAR Technologies (YES.V) is a canadian clean tech company founded in 2011, so they've been around for 15 years.

The last 15 years were spent doing R&D, piloting and securing large partnerships for every aspect of their process!

Char tech takes wood waste and heats it via their High temperature pyrolysis (HTP) to convert it into biochar and renewable natural gas.

They have a 2nd process to turn that biochar into pelletized biocarbon.

This biocarbon is a drop in replacement for fossil coal, so steel & silicone manufacturing companies and any other manufacturing company which uses fossil coal can use their biocarbon which is carbon neutral.

Char tech has many facilities in different phases (early planning phase, development phase, construction or completed phase)

From those 5 facilities, their Thorold facility which was their original pilot facility has completed Phase 1 expansion for commercial production.

The phase 1 is in commissioning right now which is expected to be completed next month (in Sep 2026) after which commercial production will begin.

Great thing is that they already have secured Huge buyers and investors into the company.

ArcelorMittal (the 2nd largest steel company in the world) signed an offtake agreement to buy their biocarbon.

ArcelorMittal also invested $6.6 million dollars into char back in 2023 at 60 cents a share.

The canadian govt has put in more than $19 million in grants and funding so far into char tech.

The BMI group who is their landlord on the thorold site has invested 13 million into the company so far and has committed another $10 million towards a future project. (Espanola site)

Char tech recently bought a facility from Elkem (elkem is a multi billion dollar silicone manufacturing company, is also publicly traded) in saguenay quebec.

That saguenay facility will help with pelletizing the biochar they produce.

CHARs HTP technology is also being piloted in Baltimore jointly with Syngaro (wholly owned by Goldman Sachs) and City of Baltimore as they are able to permanently destroy PFAS (forever chemicals) with this technology.

All in all, they are on the verge of commercial production and are only just getting started!

CHAR Technologies - PFAS ("forever chemicals") are the toxic stuff found in things like non-stick pans and waterproof gear. They don't break down and they just build up in our water, soil, and bodies.

Most current cleanup methods (filtering, landfills) don't actually destroy PFAS, they just move it somewhere else.

CHAR Tech just got independent lab results back, and they're good! Their HTP technology processed contaminated sewage waste and the leftover solid material came back with zero detectable PFAS.

Tested 5 different times in 2025 by an outside accredited lab, using the strict EPA-approved testing method.This is a real way to destroy PFAS instead of just relocating it.

Full results will be submitted to the EPA end of 2026. Its a great sign for a company working in a market that's only getting bigger as PFAS regulations tighten up.

Not financial advice.

CHAR Tech reports super exciting results from their PFAS pilot!! This is such a huge and exciting opportunity which can be scaled so large. They are already doing a commercial level pilot with Synagro (wholly owned by Goldman Sachs) and City of Baltimore.

PFAS ("forever chemicals") are the toxic stuff found in things like non-stick pans and waterproof gear. They don't break down and they just build up in our water, soil, and bodies.

Most current cleanup methods (filtering, landfills) don't actually destroy PFAS, they just move it somewhere else.

CHAR Tech just got independent lab results back, and they're good! Their HTP technology processed contaminated sewage waste and the leftover solid material came back with zero detectable PFAS.

Tested 5 different times in 2025 by an outside accredited lab, using the strict EPA-approved testing method.This is a real way to destroy PFAS instead of just relocating it.

Full results will be submitted to the EPA end of 2026.

Its a great sign for a company working in a market that's only getting bigger as PFAS regulations tighten up.

Not financial advice.

Synagro (wholly owned by Goldman Sachs) released its 2025 sustainability report. CHAR Tech was mentioned twice. Once on page 3 in the CEOs intro and again on page 17.

The fact that Syngaros CEO mentioned CHAR Tech in his intro tells me that CHAR is top of mind for them! Heres to hoping that the Baltimore pilot will lead to further expansion with Synagro.

Full report: https://www.synagro.com/wp-content/uploads/2026/08/Synagro-Sustainability-Report-2025\_FINAL.pdf

(Special thanks to a fellow investor for pointing this out to me) 

CHAR Tech (YES) just released that they completed the installation of their High Temperature Pyrolysis (HTP) Kiln at their Thorold site, I am breaking down the articles main points below, let me know what you guys think.

1. Completed installation of the main High Temperature Pyrolysis (HTP) kiln, the core piece of equipment for biocarbon production.

2. Phase 1 is designed to process 35,000 tonnes of waste wood annually into more than 5,000 tonnes of biocarbon.

3. The majority of Phase 1 biocarbon production is already committed under a long-term offtake agreement with ArcelorMittal Dofasco.

4. With the kiln now installed, the project moves from major construction into the final commissioning and startup phase.

5. Completion of Phase 1 is expected to validate the technology at commercial scale and pave the way for Phase 2, which includes a second kiln and Renewable Natural Gas (RNG) production.

6. This milestone significantly reduces construction risk, with the remaining focus shifting to commissioning, operational performance, and revenue generation.

Not Financial advice.