- CHAR Technologies (YES) has received a $1,500,000 investment from the Canadian government through the Federal Economic Development Agency for Southern Ontario
(FedDev Ontario). - The investment is to support the company’s Thorold Renewable Natural Gas & Biocarbon Project
- The investment is an interest-free repayable contribution toward certain eligible project costs
- FedDev Ontario’s Jobs and Growth Fund is funding The Thorold Phase 1 Project
- Specializing in organic waste pyrolysis and biocarbon development, custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, environmental compliance and resource efficiency
- CHAR Technologies (YES) is a cleantech development and services company
- Char Technologies (YES) is down today, trading at C$0.27 as of 2:13 pm ET
CHAR Technologies (YES) received a $1,500,000 investment from the Government of Canada.
The investment is through the Federal Economic Development Agency for Southern Ontario
(FedDev Ontario), to support the company’s Thorold Renewable Natural Gas & Biocarbon Project.
The investment is an interest-free repayable contribution toward certain eligible project costs. FedDev Ontario’s Jobs and Growth Fund (JGF) is funding The Thorold Phase 1 Project.
CHAR is relocating and recommissioning its existing London facility to the Thorold Multimodal Hub. The new location will contribute to a lower carbon economy by providing direct drop-in solutions to replace the consumption of fossil fuels. Once fully operational, the project is anticipated to simultaneously produce renewable natural gas (RNG) and biocarbon, converted from clean woody feedstocks that would otherwise be destined for landfills.
The Thorold Multimodal Hub is a 250-acre multimodal industrial complex in Niagara, adjacent to the Welland Canal. Unique to Niagara, it features marine, rail and highway access.
CHAR Technologies CEO, Andrew White, says:
“We are thrilled to be the recipient of FedDev JGF funding to support the development and adoption of our made-in-Canada clean technology. Thanks to FedDev’s funding, CHAR will be positioned to increase biocarbon production capacity from 1,000 tonnes to 10,000 tonnes per year. This supports Canada’s Net Zero targets by increasing the supply of clean fuels generated from sustainable resources, which is part of our goal of decarbonizing for a circular economy.”
FedDev Ontario works to advance and diversify the southern Ontario economy through funding opportunities and business services that support innovation, growth and job creation in Canada’s most populous region.
Minister of FedDev Ontario, Honourable Filomena Tassi, says:
“The Government of Canada is committed to supporting companies that are leading the charge on the development of innovative, clean solutions to help Canadians build a greener future. Creating skilled jobs and helping to grow the economy towards a cleaner, greener Canadian economy.”
CHAR Technologies (YES) is a cleantech development and services company specializing in organic waste pyrolysis and biocarbon development, custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, environmental compliance and resource efficiency.
Char Technologies (YES) is down today, trading at C$0.27 as of 2:13 pm ET.
