Restructuring Plan Expected to Reduce Debt by Approximately $1.0 Billion, Improve Profitability, and Better Position the Business for Long-Term Success

THOROLD, ONTARIO, March 8, 2024 - CHAR Technologies (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to announce a contribution of approximately $5.2 million from the Government of Canada’s Natural Resources Canada Clean Fuels Fund.

Golden State Natural Resources (GSNR) is embarking on a wood pellet project aimed at enhancing California's forest resilience by converting surplus biomass into pelletized fuel.

The Government of Ontario is investing an additional $60 million in the Forest Biomass Program.

In Oliver, B.C., a notable collaboration between the Osoyoos Indian Band (OIB), Mercer Celgar (Celgar), and the Forest Enhancement Society of BC (FESBC) is underway.

Province providing over $9.4 million to 14 forest biomass projects in Northwest Ontario

When you walk through a fresh clearcut in British Columbia, you are surrounded by a “one-dimensional, dead landscape,” says Michelle Connolly of Conservation North, a volunteer conservation group based in the Canadian province.

The Chipman Sawmill is celebrating the commission of a new biomass boiler which will significantly reduce fossil fuel consumption and contribute to a sustainable future.

Neova Oy's subsidiary Vapo Terra Oy and Versowood Oy have agreed on a business sale and purchase agreement whereby Vapo Terra sells the Turenki pellet factory to Versowood Oy.

The paper and wood products industry is part of a circular value chain that prides itself on sustainable practices. We’re a crucial part of the climate solution.

The Ontario government is investing more than $1.5 million in 15 research, innovation and modernization initiatives that will develop the untapped economic potential and environmental benefit of new and emerging uses of underutilized wood and mill by-products, collectively known as forest biomass.

Province investing $1.5 million in 15 projects supporting new and emerging uses of forest biomass

The Houston pellet plant in B.C., co-owned by Canfor, Drax, and the Witset First Nation, is temporarily closing due to reduced raw material supply following the Canfor sawmill shutdown.

Enviva Inc. released its financial and operating results for the third quarter of 2023, highlighting a net loss of $85.2 million, a comprehensive review of its capital structure to enhance financial position, and a realignment of leadership.

Highland Grenada, an affiliate of Highlands Pellets LLC, set its sights on Grenada with the acquisition of the former GP OSB site — a 144-acre expanse that will soon become the city’s inaugural green energy project and wood pellet producer.

October 23 - As part of developing a biomass strategy, the UK government asked a group of experts to look at whether using forest biomass for bioenergy with carbon capture and storage (BECCS) could deliver net permanent removal of carbon dioxide from the atmosphere.

As a Department of Forestry workgroup tries to determine the carbon footprint of biomass, the woody materials burned to generate electricity, it is running into problems obtaining information from Dominion Energy on how the utility procures the different types of material it uses.

According to the goal of Metsä Tissue, part of Metsä Group, to develop its Future Mill-concept, the company will aim to have fossil free mill fleet by 2030 and accordingly it has stopped using coal as an energy source in its Kreuzau’s mill.

We’re thrilled to announce our groundbreaking partnership with the Washington State Department of Natural Resources (DNR) to revolutionize carbon removal and forest health in Washington.

Downtown-based Mote Inc., which develops biomass plants to generate hydrogen fuel and sequester the carbon dioxide byproduct, is planning a second biomass plant – this one in the Sacramento area.

Strategy underscores the important role of sustainable biomass to support the country’s energy security and path to net zero.