CHAR Tech Awarded $2.25 Million From Ontario to Accelerate Low-Carbon Biocarbon Pellet Commercialization

TORONTO, Dec. 10, 2025 (GLOBE NEWSWIRE) — CHAR Technologies Ltd. (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is pleased to announce that the Ontario government has awarded a $2.25 million non repayable reimbursement grant through the Forest Biomass Program for 50% of eligible project costs to accelerate the Thorold Renewable Energy Facility’s commercialization of biocarbon pellets. The biocarbon pellets are a made-in-Ontario renewable reductant and fuel designed as a drop-in replacement for fossil carbon in steelmaking and other heavy industrial applications.

This investment supports CHAR Tech’s work to optimize biocarbon pellet production at the Thorold Renewable Energy Facility, improving durability, density, and handling characteristics required for industrial use and long-distance transport. These advancements will help supply Ontario steelmakers and position CHAR Tech to export Ontario-made biocarbon to European markets where demand for low-carbon industrial fuels continues to increase.

Expanding the commercial pellet line is already underway, and the Company expects the upgraded line to be completed in 2026 to align with the installation timelines of the second High Temperature Pyrolysis (“HTP”) kiln as part of Phase 2 facility construction.

“Our government is protecting forest sector jobs by empowering innovative businesses to develop the untapped potential of forest biomass,” said Kevin Holland, Associate Minister of Forestry and Forest Products. “We are investing in emerging technologies to bring next-generation renewable fuels to market and advance greener and cleaner manufacturing with made-in-Ontario forest products – seizing our opportunity to establish Ontario as a global leader in biocoal.”

“We thank the Ontario government for its support to accelerate CHAR Tech’s work in advancing biocarbon pellets as a made-in-Ontario, drop-in replacement for fossil carbon in steelmaking,” said Andrew White, CEO of CHAR Tech. “This investment strengthens the market for forest biomass, supports jobs in the North, and positions us to increase supply to local partners and to begin exporting Ontario-made biocarbon to Europe, further strengthening the province’s trade opportunities.”

About the Ontario Forest Biomass Program

Since its 2023 launch, the Forest Biomass Program has committed over $50 million to more than 55 projects supporting the Forest Biomass Action Plan, a key element of Ontario’s actions to drive forest sector growth. Today’s investment accompanies the release of two progress reports showcasing the province’s growing forest bioeconomy:

• The Forest Biomass Action Plan Interim Report documents key successes in the action plan’s ongoing implementation, empowering the forest sector to maximize the value of wood, develop new revenue streams and create jobs
• The Forest Biomass Action Plan Research Summary Report highlights new and emerging biomass uses which will provide added economic and environmental benefits to Ontario’s workers, families and businesses

In response to increased U.S. softwood lumber duties and tariffs, the government continues to protect forestry jobs and build a stronger, more resilient forest sector, delivering on commitments to workers, businesses and communities set in the Forest Biomass Action Plan and Sustainable Growth: Ontario’s Forest Sector Strategy.

About CHAR Tech

CHAR Tech (TSXV:YES) first-in-kind high temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen and a solid biocarbon that is a carbon neutral drop-in replacement for metallurgical steel making coal.

CHAR Tech’s HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry.

Website: www.chartechnologies.com

For further information, please contact:

Website: www.chartechnologies.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this news release.

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 timing for full facility construction, securing project financing, expectations regarding the 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’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, 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 January 28th, 2025 for the fiscal year ended September 30, 2024, 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.