FedDev Ontario Invests $1,500,000 in CHAR Technologies Thorold Phase 1 Project
CHAR Technologies Ltd. is pleased to announce an investment of $1,500,000 from the Government of Canada, through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), to support the Company’s Thorold Renewable Natural Gas & Biocarbon Project (“Thorold Phase 1 Project”).
This investment, in the form of an interest-free repayable contribution toward certain eligible project costs, is provided through FedDev Ontario’s Jobs and Growth Fund (JGF). The Thorold Phase 1 Project will see CHAR relocate and recommission their existing London facility to the Thorold Multimodal Hub where it will contribute to a lower carbon economy by providing direct drop-in solutions to replace the consumption of fossil fuels. Once fully operational, the project is anticipated to simultaneously produce renewable natural gas (“RNG”) and biocarbons, converted from clean woody feedstocks that would otherwise be destined for landfills.