Published by Todd Bush on December 18, 2024
TORONTO, Dec. 18, 2024 (GLOBE NEWSWIRE) – CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to announce that the Government of Québec, through the Programme Innovation Bois, has approved $2.5M to support the advancement of the previously announced build, own, operate project. This project will convert wood wastes and residuals into both biocarbon for metallurgical coal replacement and green hydrogen, which will be further upgraded into renewable natural gas. The non-repayable grant funding will be disbursed based on predetermined project milestones.
>> In Other News: MHI Hydrogen Infrastructure Formalizes Agreement with Pacific Northwest Hydrogen Association to Further Advance the Region’s Clean Energy and Economic Objectives
Also announced was a $1M contribution from the Programme Innovation Bois to la Société de cogénération de Saint-Félicien (“SCSF”), toward the centre de valorisation de la biomasse (“CVB”), co-located with the CHAR Tech project. The CVB includes a waste heat recovery dryer to pre-process biomass for use in the CHAR Tech project.
SCSF, owned by Green Leaf Power, operates a 25 MW cogeneration facility that converts approximately 260,000 green metric tonnes per year of wood waste biomass into renewable energy. The facility supplies electricity to Hydro-Québec and provides steam for additional industrial uses locally.
Andrew White, CEO of CHAR Tech, commented: “We are deeply grateful for the Government of Québec’s support through the Programme Innovation Bois. This $2.5M contribution will accelerate our efforts towards the collaboration of our technology with the CVB at the SCSF facility in Saint-Félicien. Together, we are driving innovation that contributes to a cleaner, greener future.”
Mme. Maïté Blanchette Vézina, Québec Minister of Natural Resources and Forests, remarked: « Avec ces investissements, notre gouvernement démontre à nouveau son soutien à ce secteur névralgique pour le Québec et ses régions. Concrètement, avec cette annonce, nous encourageons des projets innovants qui permettront de dynamiser la filière forestière. Les projets soutenus dans le cadre du Programme Innovation Bois ont généré près de 1,35 milliard de dollars en investissements totaux, créé plus de 1,300 emplois et consolidé plus de 14,000 autres, depuis 2016. C'est impressionnant! Je salue les investisseurs pour leur sens de l'initiative et leur vision d'avenir! »
CHAR Tech (TSXV:YES) utilizes first-in-kind high-temperature pyrolysis (HTP) technology to process unmerchantable wood and organic wastes. This technology simultaneously generates two renewable energy revenue streams: renewable natural gas (RNG) or green hydrogen, and solid biocarbon as a carbon-neutral drop-in replacement for metallurgical coal.
CHAR’s HTP technology offers an ideal waste-to-energy solution, aligning with the global green energy transition. By diverting waste from landfills and producing sustainable clean energy, CHAR contributes to the decarbonization of heavy industry.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this news release.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🌍 5 Key Carbon Removal Innovations That Shaped 2024 🧪 New Material Could Capture Millions of Tonnes of Atmospheric Carbon 💰 DOE Re-opens Funding Opportunity, Making $500 Million ...
Inside This Issue 💰 OCED Announces up to $1.8 Billion in New Funding for Transformational Direct Air Capture Technologies 🌱 BP Announces Investment Decision for “Lingen Green Hydrogen” Project 🧪 C...
Inside This Issue 🌊 ExxonMobil Partners with Worley for Groundbreaking Blue Hydrogen Facility in Texas 🏗️ Holcim Group to Test Capsol’s Carbon Capture Technology as a Step Towards Decarbonized Cem...
Japan Airlines invests in Heirloom Carbon Technologies
Japan Airlines Co., Ltd (JAL) announced its investment in California-based decarbonization developer Heirloom Carbon Technologies, Inc.. Heirloom specializes in Direct Air Capture, a negative emis...
Developers Eye Louisiana, Texas Coasts for Offshore Carbon Storage
Is the Gulf of Mexico the “single best opportunity” to store climate-warming gas — or an existential threat to wildlife and people? The fishers in Gulf of Mexico waters off Cameron Parish, Louisia...
AES Andes Files EIS for USD-10BN Green H2, Ammonia Project in Chile
South American power producer AES Andes has submitted an environmental impact study (EIS) for a USD-10-billion (EUR 9.58bn) green hydrogen and ammonia project in Chile. The project proposes to esta...
Scientists Transform CO2 Into Super-Strong 3D Printed Concrete
Scientists have developed a new 3D concrete printing method that captures carbon, enhancing the material’s strength and sustainability. This innovation significantly reduces the construction secto...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.