TORONTO, Feb. 24, 2022 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“CHAR” or “Company”) (YES – TSXV) announces it has been selected to the TSX Venture 50 as a top performer in the Clean Technology and Life Sciences industry. The TSX Venture 50 is a ranking of the top performers on the TSX Venture Exchange over the past year in five industry sectors. Companies selected for 2021’s TSX Venture 50 have demonstrated their ability to access capital for growth and scale up their business for success.
During 2021, CHAR made significant progress with the following projects and milestones:
Closed $6 million private placement.
Received 1,000 tonne biocoal order from major Canadian steel company.
Signed an agreement with Hitachi Zosen Inova for California high temperature pyrolysis (HTP) anaerobic digestate to green hydrogen project.
Began upgrades to existing HTP facility to produce renewable natural gas (RNG).
Signed an exclusive technology licensing agreement with CHAR's principal kiln technology supplier, Anergy, a global waste transformation leader.
Commenced surveying and geotechnical testing at the proposed site of its woody biomass to RNG HTP project in Kirkland Lake, Ont.
Building on 2021’s strong growth CHAR announced an additional HTP system at an existing biomass cogeneration facility in Saint-Félicien, Québec. This system will leverage existing biomass handling and processing equipment operated for the Centre de Valorisation de la Biomasse du Domaine-du-Roy ("CVB"), a public-private consortium between the local municipality (the MRC du Domaine-du-Roy), the Société de Cogénération de Saint-Félicien (SCSF, owned by Greenleaf Power) and CharTech Solutions (Char's 100-per-cent wholly owned subsidiary).
“We are pleased to be recognized by the TSX Venture Exchange as a top performer in the Clean Technology space,” said Andrew White, CHAR’s CEO. “This year has really seen our development projects accelerate, and really gaining market traction in our key growth verticals of biocarbon and biocoal, renewable natural gas, and anaerobic digestate management to produce green hydrogen. In 2022, we will see delivery on projects as we continue to solidify our market leading position.”