Mr. Andrew White reports

CHAR TECH ANNOUNCES KILN INSTALLATION UNDERWAY AT THOROLD RENEWABLE ENERGY FACILITY

Char Technologies Ltd. has delivered the first of two commercial high-temperature pyrolysis (HTP) kilns to the Thorold renewable energy facility, with installation now kicked off. Additionally, the feedstock handling line conveyors are being installed this week. These milestones mark key critical path items to complete the construction of phase 1, keeping the project on track for commissioning of commercial biocarbon production in January, 2026.

Phase 1 of the Thorold facility will convert up to 35,000 tonnes of wood waste per year into more than 5,000 tonnes per year of biocarbon, the bulk of which is anticipated to be used locally by ArcelorMittal Dofasco, Canada's largest flat roll steel producer, under the previously announced 2023 offtake agreement to reduce fossil carbon in the steelmaking process.

Following completion of phase 1, the company will proceed with phase 2 construction, which includes installing a second HTP kiln to double production capacity, adding methanation equipment to upgrade synthetic gas into renewable natural gas (RNG), and constructing the onsite natural gas pipeline injection point. The Thorold renewable energy facility is projected to be completed and reach full scale commercial production capacity in 2026.

"Getting the kiln on site and into installation is a big moment for Thorold," said Andrew White, chief executive officer of Char Tech. "The team and our partners at BMI have kept the build advancing at a strong pace, and now we're into the final stretch of phase 1. With installation under way, we're lined up to flip the switch on initial commercial operations in January."

About Char Technologies Ltd.

Char Technologies first-in-kind high-temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen, and a solid biocarbon that is a carbon-neutral drop-in replacement for metallurgical steel-making coal.

Char Tech'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.

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