Char Technologies gets $2.25M grant from Ontario gov't

Executive Summary

• Char Technologies Ltd. has been awarded a $2.25 million non-repayable reimbursement grant from the Ontario government's Forest Biomass Program.
• The funding covers 50% of eligible project costs to accelerate the commercialization of biocarbon pellets at the Thorold renewable energy facility.
• The grant supports the optimization of biocarbon pellet production to serve as a drop-in replacement for fossil carbon in steelmaking and heavy industry, with plans to export to European markets.

Key Details

• Grant Amount: $2.25 million.
• Grant Type: Non-repayable reimbursement grant.
• Funding Source: Ontario government's Forest Biomass Program.
• Cost Coverage: 50% of eligible project costs.
• Project Focus: Accelerating the commercialization of biocarbon pellets at the Thorold renewable energy facility.
• Product Application: Biocarbon pellets are designed as a renewable reductant and fuel, serving as a drop-in replacement for fossil carbon in steelmaking and other heavy industrial applications.
• Technical Improvements: The investment supports work to optimize production, specifically improving durability, density, and handling characteristics required for industrial use and long-distance transport.
• Market Strategy: The advancements aim to supply Ontario steelmakers and position Char Tech to export Ontario-made biocarbon to European markets.
• Timeline: The expanded commercial pellet line is already underway, with completion expected in 2026.
• Facility Alignment: The pellet line completion aligns with the installation timelines of the second high-temperature pyrolysis (HTP) kiln as part of Phase 2 facility construction.

Notable Quotes

• Kevin Holland, Associate Minister of Forestry and Forest Products (Ontario): "We are investing in emerging technologies to bring next-generation renewable fuels to market and advance greener and cleaner manufacturing with made-in-Ontario forest products -- seizing our opportunity to establish Ontario as a global leader in biocoal."
• Andrew White, CEO of Char Technologies: "This investment strengthens the market for forest biomass, supports jobs in the North and positions us to increase supply to local partners and to begin exporting Ontario-made biocarbon to Europe, further strengthening the province's trade opportunities."