CHAR Technologies

What CHAR Technologies does

CHAR Technologies Ltd. (TSXV:YES) is a Canadian cleantech development and environmental services company that has commercialized a proprietary High-Temperature Pyrolysis (HTP) platform operating at over 800°C in an oxygen-free environment. The platform converts unmerchantable wood, forestry residuals, and organic waste into two saleable outputs: solid biocarbon products (biochar, biocoal, activated biochar) intended as carbon-neutral drop-in replacements for metallurgical coal in steelmaking and ferrosilicon production, and renewable natural gas (with optionality for green hydrogen) suitable for pipeline injection. The same HTP platform has been demonstrated to destroy PFAS compounds in wastewater biosolids at above 600°C, producing Class A biochar outputs. The company was founded in 2013, is headquartered in Toronto, Ontario, and operates or is developing production and project sites in Thorold (flagship commercial facility), Saguenay (acquired from Elkem ASA), Kirkland Lake, Saint-Félicien, La Sarre, Drayton Valley, and Thunder Bay.

CHAR's revenue model is multi-pronged and tied to long-dated offtake agreements with anchor industrial customers, supplemented by non-dilutive government funding and technology licensing. Primary contracted revenue streams are biocarbon sales to steel and metallurgical customers (ArcelorMittal Dofasco: C$6.6M strategic investment plus a 5,000-tonne MoU and a four-year 35,000-tonne GHG reduction target; Elkem ASA: a five-year, 62,500-tonne offtake at 12,500 tonnes/year from the Saguenay facility), RNG pipeline sales to Canadian utilities, project development services for jointly-owned project entities, and one-time license fees plus production royalties from technology licensing (GazoTech SAS for France and select European markets). Non-dilutive funding has included a C$5.2M Natural Resources Canada Clean Fuels Fund grant and a C$2.25M Ontario Forest Biomass Program grant, with C$200K from Indigenous Bioeconomy Partnerships. The go-to-market motion is sales-led and targets heavy industrial decarbonization customers, with strategic partners BMI Group (50/50 JV at the Thorold facility and insider ownership exceeding 10%) and Lake Nipigon Forest Management Inc. (51/49 JV) supplying feedstock and co-development capacity. The company is in the commissioning stage of Thorold Phase 1 (5,000 tonnes/year biocarbon) and is integrating the recently acquired Elkem Saguenay facility toward 15,000 tonnes/year capacity, with no public revenue figure disclosed.

Name

CHAR Technologies

Legal name

CHAR Technologies Ltd.

Website

https://chartechnologies.com

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

CHAR Technologies is a Canadian cleantech company that uses proprietary High-Temperature Pyrolysis to convert wood waste and organic residuals into biocarbon for steelmaking and renewable natural gas, serving industrial customers such as ArcelorMittal and Elkem ASA.

Ownership category

akta.pro rank

Product category

Cleantech Biocarbon and Renewable Energy Manufacturing

NAICS

Biomass Electric Power Generation (221117)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Waste Pyrolysis (Plastics/tires/biomass-to-oil/char) (EUAAAKAF)

akta.pro secondary industry

Gasification & Pyrolysis-to-Power (Waste/Biomass Advanced Thermal) (EUACAIAL)

Keywords

• Biocarbon production
• Renewable natural gas
• High-temperature pyrolysis
• PFAS destruction technology
• Cleantech waste processing

Headquarters

HQ city

North York

HQ country

Canada

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Biocarbon Sales: CHAR Tech generates revenue from selling biocarbon (biochar, biocoal, activated biochar) produced through its HTP process. Biocarbon serves as a carbon-neutral drop-in replacement for metallurgical coal in steelmaking and other heavy industrial applications. Long-term offtake agreements provide revenue visibility.
2. Renewable Natural Gas (RNG) / Green Hydrogen Sales: The HTP process converts organic waste into syngas, which can be upgraded to pipeline-injectable RNG or further processed into green hydrogen for sale to utilities and industrial customers.
3. Technology Licensing: CHAR Tech licenses its proprietary HTP technology know-how to partners like GazoTech SAS for European markets. Revenue includes one-time license fees upon equipment delivery plus ongoing royalties linked to biocarbon production, enabling revenue generation without deploying project-level capital.
4. Government Grants and Incentives: Non-dilutive funding from government programs including the Clean Fuels Fund ($5.2M), Forest Biomass Program ($2.25M), and Indigenous Bioeconomy Partnerships ($200K) to support facility development and expansion.
5. Project Development Services: CHAR Tech earns fees through development and operational services provided to jointly-owned project entities, including feedstock management, sales, and marketing of RNG and biocarbon outputs.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

CHAR Technologies develops and deploys High-Temperature Pyrolysis (HTP) technology that converts woody biomass and organic waste into biocarbon (a coal substitute) and renewable natural gas (RNG/green hydrogen). The company operates dedicated biocarbon and RNG production facilities, sells biocarbon products to industrial off-takers such as steel manufacturers, and licenses its HTP platform to third parties including GazoTech in France.

Product overview

CHAR Technologies operates a unified technology platform built around its proprietary High-Temperature Pyrolysis (HTP) technology. The HTP platform processes unmerchantable wood and organic waste into two primary revenue streams: renewable natural gas (or green hydrogen) and solid biocarbon products (biochar, biocoal, activated biochar). The company is advancing multiple commercial facilities including the Thorold Renewable Energy Facility in Ontario and the Lake Nipigon Forest Renewable Energy Facility, with recent expansion through the acquisition of Elkem ASA's biocarbon assets in Saguenay, Québec. A newer vertical focuses on PFAS destruction in wastewater biosolids using the same high-temperature pyrolysis process.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 35,000 tonnes of greenhouse gas emissions reduction over four years through biocarbon use at ArcelorMittal Dofasco steelmaking facility
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core, strategic and minor.

• Elkem ASAcoreStrategic or Co-development Partner · 20 April 2026CHAR Tech acquired Elkem's biocarbon pellet production facility in Saguenay, Québec for US$1,000,000. Acquisition includes IP, production facility, and five-year offtake agreement for 62,500 tonnes biocarbon (12,500 tonnes/year). Facility to be upgraded to 15,000 tonnes/year capacity for ferrosilicon production.
• GazoTech SASstrategicTechnology or Integration · 4 February 2026Technology know-how licensing agreement granting GazoTech rights to deploy CHAR Tech's HTP technology in France and selected European markets. CHAR Tech receives one-time license fees upon equipment delivery plus ongoing royalties linked to biocarbon production. GazoTech developing multiple projects including Bio-Méthane Provence and industrial integration opportunities.
• Canadian Iron & Steel Energy Research Association (CISERA)minorStrategic or Co-development Partner · 29 October 2025Industry association membership for 2025-2026. CHAR Tech contributes to research on decarbonized steelmaking and supports the iron and steel industry's transition to net zero emissions.
• BMI Group (Bioveld Canada)coreStrategic or Co-development Partner · 2 May 2025Strategic partnership with BMI Group includes C$2 million private placement (10 million shares at CDN$0.20), joint development of Thorold Renewable Energy Facility (50% ownership), and C$3,500,000 term loan at 12.5% interest for Elkem acquisition financing. Paul Veldman (CEO) serves as guest speaker at CHAR Tech AGMs.
• Ontario Forest Industries Association (OFIA)minorStrategic or Co-development Partner · 15 July 2024Trade association membership providing collaboration opportunities with forestry industry leaders and identification of renewable energy needs for Ontario's forest sector.
• Lake Nipigon Forest Management Inc. (LNFMI)coreStrategic or Co-development Partner · 13 March 2024Joint venture partnership (51% LNFMI / 49% CHAR) for Lake Nipigon Forest Sustainable Energy Solutions facility. LNFMI oversees wood fiber harvest and feedstock supply; CHAR Tech manages sales and marketing. Project to produce 500,000 GJ RNG and 10,000 tonnes biocarbon annually from 75,000 tonnes wood waste. Four First Nation community shareholders.
• TWD Technologies Ltd.minorImplementation/ SI/ Consulting Partner · 1 October 2023Engineering and construction management partnership for Thorold facility expansion. TWD provides project development, engineering, and sustainable energy solutions expertise for the HTP facility build.
• Synagro TechnologiesstrategicStrategic or Co-development Partner · 1 April 2023Partnership to demonstrate HTP technology for PFAS elimination in biosolids. Synagro completed civil work and accepted delivery of CHAR Tech's HTP process equipment for first U.S. deployment. Project targets commercial validation of permanent PFAS destruction from wastewater biosolids.

Scale indicators12 records

Recent moves10 records

Expansion highlights7 records

Broad incumbents

• Bloom Energy: Bloom Energy is an established provider of solid-oxide fuel cell technology producing electricity and hydrogen from natural gas and renewable feedstocks. Comparable as a broader incumbent in renewable hydrogen and gas-to-energy conversion targeting industrial decarbonization.
• Aemetis: Aemetis is a larger, established renewable fuels and biochemicals producer operating across multiple feedstocks (biomass, biogas) with commercial-scale assets. Comparable in producing drop-in renewable replacements for fossil fuels and industrial chemicals serving similar decarbonization end markets.
• Topsoe: Topsoe provides technology, catalysts, and engineering for biomass-to-chemicals, e-fuels, and renewable hydrogen production. Comparable as a broader incumbent offering production technology solutions for renewable fuel and chemical manufacturers including those using biomass feedstocks.

Emerging players

• Infinium: Infinium (formerly Greyrock Energy) produces e-fuels including e-diesel and e-gasoline from renewable feedstocks. Comparable as an emerging player in synthetic renewable fuels targeting industrial and transportation decarbonization customers.
• Newlight Technologies: Newlight produces AirCarbon, a biocarbon material made from methane emissions using microbial processes. Comparable as an emerging player in biocarbon/carbon-negative material production serving industrial applications and decarbonization end-markets.

Direct peers

• Velocys: Velocys develops biomass-to-jet and synthetic fuel production using Fischer-Tropsch technology. Comparable as a biomass-to-renewable-fuels platform targeting industrial decarbonization customers and serving the energy transition market.
• PyroGenesis Canada: PyroGenesis is a Canadian plasma/waste-to-energy technology company developing systems for waste destruction, biocarbon production, and renewable energy. Closely comparable as a Canadian-headquartered peer using high-temperature thermal processes to convert waste into energy and solid carbon products.
• SunFire: SunFire produces e-fuels and synthetic hydrocarbons via biomass gasification and CO2 utilization. Comparable in producing renewable gas/liquid fuels from organic feedstocks and industrial waste streams using thermal conversion technologies.
• Ensyn: Ensyn operates proprietary biomass pyrolysis technology producing biochar (Renuvia) and renewable fuel oils from forestry residues. Closely comparable to CHAR's High-Temperature Pyrolysis platform producing biocarbon and renewable gases from woody biomass.
• LanzaTech: LanzaTech uses gasification and carbon capture to convert waste gases and biomass into fuels and chemicals (including ethanol and synthetic feedstocks). Highly comparable to CHAR's HTP approach of converting waste feedstocks into renewable energy and chemical products for industrial customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/CHAR_Technology
• YouTubeyoutube.com/channel/UCt6AeLsXjimEgefu0jP4IOw
• LinkedInlinkedin.com/company/char-technologies

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CHAR Technologies