TORONTO, July 15, 2024 (GLOBE NEWSWIRE) — CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is proud to announce its membership in the Ontario Forest Industries Association (OFIA). Founded in 1943, the OFIA is a provincial trade association whose members sustainably manage over 30 million hectares of public and private forests in Ontario.
The OFIA is a stronghold of diverse members, including lumber, engineered wood products, pulp and paper, bioproducts, and forest managers. This membership provides CHAR Tech with an unparalleled opportunity to collaborate with industry leaders and address the renewable energy needs of Ontario’s forest sector. Using its high-temperature pyrolysis (HTP) technology, CHAR Tech can convert forestry wood waste into valuable bioenergy products such as biocarbon and renewable natural gas (RNG). Repurposing wood waste residuals into bioenergy can also lesson the impact of wildfires, protecting our forests and communities.
“We are very excited to join the Ontario Forest Industries Association (OFIA),” said Andrew White, CEO of CHAR Tech. “The organization’s focus on climate change mitigation and a net-zero economy aligns with our vision of driving waste-to-energy solutions. Being part of this vast network allows us to work closely with forestry organizations, identify their renewable energy needs, and provide innovative solutions for forest waste management.”
OFIA’s President & CEO, Ian Dunn, adds, “We are thrilled to welcome CHAR Technologies to the OFIA. Their advanced technology and expertise in developing bioenergy will significantly contribute to the OFIA’s mission. By including innovative companies like CHAR Tech, we are creating opportunities for collaboration and knowledge sharing, ultimately improving the resilience of our forests and the competitiveness of our sector.”
For further information, please contact:
Galen Cranston
Director of Stakeholder Relations
CHAR Technologies Ltd.
E: gcranston@chartechnologies.com
Website: www.chartechnologies.com
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, are intended to identify forward-looking information. Forward-looking statements include, but are not limited to, statements relating to the Offering, the anticipated benefits of, and rationale for, the Offering, statements regarding the intended use of proceeds of the Offering, expectations regarding the offtake agreement, future plans, operations and activities, expectations regarding the scale up of production, the anticipated development of additional project sites on an expedited basis, and other statements that are not historical facts. Such statements reflect CHAR’s current views and intentions with respect to future events, and current information available to CHAR, and are subject to certain risks, uncertainties and assumptions, including, among others, the timing and ability of CHAR to obtain final approval of the Offering from the TSX Venture Exchange and those risk factors discussed or referred to in CHAR’s disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management Discussion & Analysis dated February 27th, 2024 for the quarter ended December 31, 2023, and available under CHAR’s profile on www.sedar.com. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, CHAR 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 undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
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