CHAR Technologies Acquires Elkem's Biocarbon Assets in Québec

CHAR Technologies Ltd. has completed the acquisition of Elkem ASA's biocarbon pellet production facility in Saguenay, Québec. This transaction includes all hard assets, proprietary intellectual property, and highlights a strategic offtake agreement. Over the next five years, CHAR Tech will supply Elkem with 62,500 tonnes of biocarbon.

The acquired facility, originally developed for Elkem's ferrosilicon production needs, will undergo upgrades to increase its production capacity to 15,000 tonnes annually. This aligns with CHAR Tech's objective to enhance its production portfolio, addressing industrial decarbonization demands.

Elkem sees CHAR Tech as a fitting partner to commercialize its biocarbon innovations. This acquisition reinforces CHAR Tech's ambitions in the North American and European markets, facilitating a supply chain for low-carbon biocarbon solutions.