TORONTO, ON / ACCESS Newswire / October 22, 2026 / CHAR Technologies Ltd. ("CHAR Tech" or the "Company") (TSXV:YES)(OTC PINK:CTRNF)(FSE:68K), a leader in sustainable biomass energy solutions, is pleased to announce that the ESA has granted final electrical approval for the Thorold Renewable Energy Facility (the "Thorold Facility"), jointly owned 50/50 by the Company and The BMI Group ("BMI"). The approval allows the Thorold Facility to bring the Phase 1 high-temperature pyrolysis ("HTP") kiln up to operating temperature.

ESA approval is the first of the two regulatory sign-offs the Company identified in its October 1 announcement of Phase 1 mechanical and electrical substantial completion. The second and final sign-off would come from the TSSA, which is scheduled at the Thorold Facility next week, following this week's kiln burner startup. This is the last regulatory step before Phase 1 moves into full commercial production.

The Company remains on the timeline set out in its October 1 announcement, with commercial ramp-up through October and production and revenue increasing through the end of 2026. Phase 1 is designed to produce up to 5,500 tonnes of biocarbon per year for customers including ArcelorMittal Dofasco, which will use it in place of fossil carbon in its steelmaking under its offtake agreement with the Company.

"Our team has done an outstanding job getting the Thorold Facility ready for final TSSA approval," said Andrew White, Chief Executive Officer of CHAR Tech. "That approval is the last step before commercial production, and what we prove at the Thorold Facility carries directly into every project we have in development."

Phase 2 will add a second HTP kiln, methanation equipment to upgrade synthetic gas into renewable natural gas ("RNG"), and an onsite pipeline injection point. When the Thorold Facility begins producing RNG, it will be the first facility in the world to produce RNG and biocarbon simultaneously from wood waste.

QUICK FACTS

• In December 2022, the Government of Ontario announced approved funding of $6,438,168 for the project through the Forest Sector Investment and Innovation Program, a business support program designed to improve productivity and innovation, enhance competitiveness, support new market access and strengthen regional economies.
• In December 2025, the Government of Ontario announced approved funding of $2,259,142 for the project through the Forest Biomass Program, a business support program that is a key element of Ontario's actions to drive forest sector growth.
• The Government of Canada provided $4,938,168 for the project through the Investments in Forest Industry Transformation program and also provided $1,500,000 for the project through the Federal Economic Development Agency for Southern Ontario Jobs and Growth Fund.
• The BMI Group made a $8,000,000 project-level equity investment directly into the CHAR Tech Thorold Renewable Energy Facility, resulting in 50/50 ownership of the facility between CHAR Tech and BMI.

About CHAR Technologies Ltd.

CHAR Tech (TSXV:YES)(OTC PINK:CTRNF)(FSE:68K) is a Canadian clean-technology company developing first-in-kind high-temperature pyrolysis ("HTP") systems that process unmerchantable wood and organic waste to generate two renewable energy revenue streams, renewable natural gas or green hydrogen, and a solid biocarbon that serves as a carbon-neutral, drop-in replacement for metallurgical coal.

CHAR Tech's HTP platform is also advancing a new vertical focused on the permanent destruction of PFAS in wastewater biosolids. Operating at temperatures sufficient to break down long-chain fluorinated compounds, the system enables municipalities and industrial operators to eliminate PFAS while converting biosolids into energy and low-carbon solid products.

For further information, please contact:

Website: www.chartechnologies.com

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Forward-Looking Statements

Statements contained in this press release contain "forward-looking information" within the meaning of Canadian securities laws ("forward-looking statements") about CHAR and its business and operations. The words "may", "would", "will", "intend", "anticipate", "expect" and similar expressions as they relate to CHAR Tech, are intended to identify forward-looking information. Forward-looking statements include, but are not limited to, statements relating to the timing of regulatory approvals, commissioning and commercial ramp-up of the Thorold Facility, the technical and market validation of the Company's HTP process and biocarbon products, the timing of Phase 2 construction and RNG production, securing project financing, expectations regarding the feedstock supply and offtake agreements, future plans, operations and activities, expectations regarding the scale up of production, and other statements that are not historical facts. Such statements reflect CHAR Tech's current views and ‎intentions with respect to future events, and current information available to CHAR Tech, and are subject to ‎certain risks, uncertainties and assumptions, including, among others, those risk factors discussed or referred to in CHAR Tech's disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management Discussion & Analysis dated January 27^th, 2026 for the fiscal year ended September 30, 2025, and available under CHAR Tech's profile on www.sedarplus.ca. Any such forward-looking information is expressly qualified in its ‎entirety by this cautionary statement. Moreover, CHAR Tech does not assume responsibility for the accuracy or ‎completeness of such forward-looking information. The forward-looking information included in this press release ‎is made as of the date of this press release and CHAR Tech undertakes no obligation to publicly update or revise ‎any forward-looking information, other than as required by applicable law.

SOURCE: CHAR Technologies Ltd.