Char Tech cheers Lake Nipigon's facility licence

Mr. Andrew White reports CHAR TECH CONGRATULATES PROJECT PARTNER LNFMI FOR SECURING NEW FOREST RESOURCES PROCESSING FACILITY LICENCE Char Technologies Ltd. has celebrated a historic achievement by its first nations partner Lake Nipigon Forest Management Inc., which has secured a forest resource processing facility licence. This facility licence allows for the operation of LNFMI's biohub forestry processing facility near Hurkett, Ont., which will be the primary feedstock supplier to the Char Tech renewable energy facility under co-development with LNFMI. The co-developed facility has completed initial civil works, with full construction targeted to commence in 2026. The facility licence approval marks a generational milestone for Ontario's forestry sector and for the four first nations communities that comprise LNFMI: Animbiigoo Zaagi'igan Anishinaabek, Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek and Red Rock Indian Band. By authorizing the construction and operations of the biohub, the province has enabled these communities to centralize forestry operations, expand primary forestry sales channels, and build new capacity for processing and managing wood fibre. For Char Tech and LNFMI, the biohub represents a strategic milestone in the advancement of their co-developed wood waste-to-renewable energy facility. With an on-site, long-term feedstock supply of forestry wood waste secured and initial civil works completed in 2025, the partners are advancing to the next financing stage. Char Tech and LNFMI will pursue full construction financing for the renewable energy facility through a combination of project-level equity, non-repayable grants and project-level non-recourse debt. Once fully operational, the renewable energy facility is expected to generate annual revenues of more than $70-million from the sale of renewable fuels and biocarbon, supported by long-term offtake agreements. "This is a generational milestone not just for LNFMI but for indigenous-led forestry and Ontario's clean energy future," said Scot Rubin, chief executive officer of LNFMI. "By securing a facility licence, LNFMI has opened the door to new economic opportunities, sustainable forestry growth and the development of renewable energy infrastructure that will serve communities for decades to come." "The biohub represents a transformative step forward for our partnership with LNFMI and for Ontario's clean energy future," said Andrew White, chief executive officer of Char Tech. "By securing access to long-term wood waste supply, we are positioned to advance construction of a renewable energy facility in 2026 that will deliver meaningful economic benefits, support indigenous-led development, and help Ontario meet its advanced biofuels and decarbonization goals." "Our government is proud to support the development of this biohub with investments under our forest biomass program," said Kevin Holland, Associate Minister of Forestry and Forest Products. "Together, Lake Nipigon Forest Management Inc. and Char Technologies are putting forest biomass to work and creating new opportunities in forestry to build a stronger, more resilient forest sector." Char Tech and LNFMI extend thanks to the government of Ontario, including the Ministry of Natural Resources, for its support in advancing this transformative project. The approval directly aligns with the province's mandate to strengthen Northern Ontario's economy and accelerate advanced biofuel development. The biohub reflects the objectives of the made-in-Ontario environment plan and the growth plan for Northern Ontario, while laying the foundation for Char and LNFMI's renewable energy facility. About Char Technologies Ltd. Char Technologies' first-in-kind high-temperature pyrolysis technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams: renewable natural gas or green hydrogen and a solid biocarbon that is a carbon-neutral drop-in replacement for metallurgical steelmaking coal. Char's HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry. We seek Safe Harbor.