Searching for carbon smart ways to fuel the future? CHAR Technologies Ltd. recently hosted its hybrid annual general meeting (AGM), including an informative overview of market capitalization, investments from government and corporate partners, features of the proprietary technology (the power of pyrolysis) and transformative products (carbon neutral RNG and biochar), and more.
James Sbrolla, a CHAR director and an Advisory Board member of Environment Journal, welcomed about 150 attendees and introduced Irina Gorbounova, VP M&A with ArcelorMittal and head of XCarb Innovation Fund. Gorbounova discussed the challenges of a rapidly growing population and the need for low carbon infrastructure, emphasizing the potential for smart carbon solutions such as biochar, which can help produce steel more sustainably. CHAR secured a $6.6M strategic investment from the XCarb Innovation Fund, and with it recognition as one of the “best companies and brightest breakthrough technologies that hold the potential to accelerate the decarbonization of the steel industry.”
CHAR CEO Andrew White provided a high-level update on the company’s activities in 2023, the existing project pipeline, and plans for expansion. His passion for developing cleantech for an increasing number of customers is clear, as he informed the crowd on the various environmental and economic advantages of converting waste to energy.
White also revealed the company’s growing circle of partners, such as the Lake Nipigon Forest Management Inc. (LPFMI), a forest management co-operative comprised of four First Nation Communities. “There’s a lot of biomass there to continue to expand, produce renewable natural gas and feed the needs of our great partners throughout Canada,” said White, who also pointed out the benefits of controlling biomass to prevent wildfires while providing jobs in remote communities.
Nik Nanos CM, ICD.D, chief data scientist and president of Nanos Research, who was recently appointed to the Order of Canada, provided insights into decarbonization at the polls. “The heart of the debate between the Liberals and the Conservatives is over the carbon tax,” said Nanos.
Despite the debates and radical campaigns on social media, Nanos stated that most people are “pretty practical.” According to his extensive polling, people may not trust politicians, but there is actually consensus on the need for scientific solutions. “Citizens trust technology rather than regulatory solutions” and are “carbon agnostic on solutions as long as they realize environmental objectives.”
“From my perspective, CHAR is in the right place at the right time,” said Nanos, who has joined the board and is now a company director. “Enterprises like CHAR are very well positioned for the future.”
We put the spotlight on Char Technology in our most recent Market Watch column:
Market Watch: Feds continue to support clean fuel production projects
Featured image: CHAR Technologies has a partnership with TWD Technologies Ltd. to expand its cutting-edge High-Temperature Pyrolysis (HTP) facility in Thorold, Ontario. Credit: CHAR Technologies.
