Char to begin Thorold plant commissioning in January

Executive Summary

• Char Technologies Ltd. provided a year-end corporate update highlighting progress toward commercial operations, including the upcoming commissioning of its Thorold renewable energy facility and the completion of a PFAS destruction demonstration project.
• The company listed on the Frankfurt Stock Exchange in December 2025 under ticker symbol 68K to access European investors.
• Strategic partnerships expanded, notably with The BMI Group, which completed a $2 million equity investment in Char and invested approximately $8 million toward the Thorold project, while also initiating feasibility work for the Espanola clean-energy initiative.

Key Details

• Frankfurt Stock Exchange Listing: Listed in December 2025 under ticker symbol 68K; intended to improve trading visibility and accessibility for European retail and institutional investors.
• Thorold Renewable Energy Facility:
  • Phase 1 commissioning scheduled for January 2026.
  • Phase 1 capacity: 5,000 tonnes per year of biocarbon production.
  • Status: Major equipment delivered; mechanical and electrical installation nearing completion.
  • Phase 2 (Renewable Natural Gas): Major works scheduled for 2026.
• PFAS Destruction Demonstration Project (Baltimore):
  • Six-month operational program completed in 2025.
  • Performance data currently being compiled and analyzed by partners and third-party reviewers.
  • Goal: Validate high-temperature pyrolysis (HTP) technology for future commercial-scale deployments.
• Lake Nipigon Project:
  • Targeting construction start in 2026.
  • Status: Engineering, feedstock, and commercial workstreams progressing.
  • Pre-operational activity: Partner Lake Nipigon Forest Management Inc. has been collecting and storing biomass at the site.
  • Dependencies: Permitting, commercial agreements, and financing.
• Strategic Partnership with The BMI Group:
  • BMI completed a $2 million equity investment in Char Technologies Ltd.
  • BMI invested approximately $8 million toward the Thorold project.
  • Partnership expanded to include initial feasibility work for the Espanola clean-energy initiative (associated with BMI's acquisition of a former pulp and paper mill site).
  • Espanola planning includes site infrastructure assessment, project concepts, and feasibility studies.

Notable Quotes

• "As we close the year, Char Tech is completing its transition to commercial operations and entering its next phase as an operating company... Thorold is scheduled to enter its commissioning phase, our PFAS project is expected to deliver the data required to support commercial application, and our partnerships are translating into tangible projects. In 2026, we plan to continue to build on the significant progress and developments we've made in 2025, with projects moving to commercial production." — Andrew White, Chief Executive Officer