Char receives equipment for Thorold, hires EU IR firm

Executive Summary

• Char Technologies Ltd. provided an operational update on its Thorold renewable energy facility, confirming the delivery of key equipment packages and the commencement of installation and integration activities.
• The company announced the engagement of Apaton Finance GmbH as its investor relations advisor, effective December 24, to enhance market awareness in Europe, specifically targeting Germany.
• The engagement involves a fixed fee of 46,000 euros for an initial 10-week period, with no stock options or performance-based compensation included.

Key Details

• Thorold Facility Update:
  • Delivery of key equipment packages completed over the past two weeks.
  • Equipment delivered includes: kiln's thermal management (heating) system, biochar cooling conveyors, cooling system, dust collection system, and a specialty air-lock conveyor.
  • Installation and integration activities are now underway.
  • Goal: Move towards commercial Phase 1 biocarbon production.
• Investor Relations Engagement:
  • Advisor: Apaton Finance GmbH.
  • Effective Date: December 24.
  • Scope: Support market awareness through multiplatform content, video production, and newsletter distribution in English and German.
  • Target Audience: Primarily Germany, via news portals, search engines, and AI-supported platforms.
  • Compensation: 46,000 euros for an initial 10-week engagement.
  • Terms: Apaton is an arm's-length party, holds no securities in the company (though may acquire in the future), and receives no stock options, performance factors, or additional compensation.

Notable Quotes

• "The delivery of these systems continues to support the ongoing construction at Thorold as we move towards commercial phase 1, biocarbon, production," said Andrew White, chief executive officer of Char Tech.