Char Technologies Ltd. Announces Acquisition of the Altech Group

CHAR Technologies Ltd. (“CHAR”) (YES:TSXV) recently announced that it has closed the acquisition of  the Altech Group (“Altech”), which is comprised of  Altech Environmental Consulting Ltd. and Altech Technologies Systems Inc.  Altech provides solutions to environmental engineering challenges.  Founded in 1986, Altech has 12 employees and a diverse and stable client base.  CHAR acquired all issued equity in both Altech Environmental Consulting Ltd., and Altech Technology Systems Inc.  Altech shareholders received 4,523,810 in common shares of CHAR as well as $150,000 in cash.

Bill White, Chairman of CHAR stated that, “The acquisition of the Altech Group adds over 30 years of experience in environmental technologies and professional engineering consulting” and that “Altech provides CHAR with a growth catalyst to move much of our engineering design in-house, while at the same time allows us to greatly expand our technology solutions offering for industrial clean air and clean water.”

CHAR brings the shareholders of Altech a succession plan and an opportunity to realize value at an optimal time.  According to Alexander Keen, Founder and CEO of Altech, “CHAR brings an exciting future for Altech. Our joint efforts going forward will bring tremendous opportunities”.

The new joint enterprise plans to commercialize a new cleantech solid fuel branded “CleanFyre”.  This product is a GHG neutral coal replacement, generically referred to as biocoal.  CleanFyre will allow large industrial customers the ability to greatly reduce their GHG emissions without significant capital expenditures.  According to Andrew White, CEO of CHAR, “CleanFyre will leverage both Altech’s experience and expertise, and CHAR’s platform pyrolysis technology, the same technology used to create SulfaCHAR, to create a solution with strong market pull and significant growth opportunity.”

About CHAR

CHAR is in the business of producing a proprietary activated charcoal like material (“SulfaCHAR”), which can be used to removed hydrogen sulfide from various gas streams (focusing on methane-rich and odorous air).  The SulfaCHAR, once used for the gas cleaning application, has further use as a sulfur-enriched biochar for agricultural purposes (saleable soil amendment product).

About Altech Group

Altech is a full-service engineering and consulting firm providing energy, environmental, and health and safety services to clients.  Altech specializes in corporate management systems, energy and environmental audits and assessments, contaminated site investigation and remediation, health & safety management, training, and industrial hygiene.  Established in 1986, Altechemploys multi-disciplinary professionals including energy and environmental engineers, scientists, hydrogeologists, geologists, and technicians committed to providing our clients the highest quality service and integrated solutions for business and the environment.

Ontario Environment Industry Day – December 12th 2017

Register now: https://environmentindustryday2017.eventbrite.com

With a provincial election coming in June 2018, this year’s Environment Industry Day at Queen’s Park will feature a unique afternoon program and panel!

  • Join representatives from a range of environment and cleantech firms as we discuss what policies we need from Ontario’s major political parties in the coming election.  What does your firm need to grow?
  • What regulatory and legislative barriers are holding you back?
  • What do politicians of all stripes need to know about running and growing an Ontario environment and cleantech business?

We will hold a series of roundtable discussions, followed by our annual industry political panel that will feature:

  • Trish Nixon, Chief Impact Investing Officer, ‎CoPower Inc
  • Brandon Moffatt, cleantech entrepreneur and VP, Development & Operations, Stormfisher Environmental
  • Michele Grenier, Executive Director of the Ontario Water Works Association (OWWA)

Moderated by Sandra Odendahl, President & CEO, CMC Research Institutes

AGENDA for Tuesday, December 12, 2017:

1:30 PM                Registration and networking
2:00 – 2:45 PM     Roundtable discussions of industry issues
2:45 – 4:00 PM     Tables report back and panel responds
4:00 – 4:30 PM      Political and policy response
4:30 PM                 Networking and walk to Queen’s Park reception

LOCATION: Charbonnel Lounge of St. Michael’s College at the University of Toronto, 81 St Mary Street, Toronto, ON M5S 1J4

TO REGISTER:
Please visit link https://environmentindustryday2017.eventbrite.com

Register now to secure your seat as space is limited!

Consider becoming a sponsor of EID for as little as $750 – and all sponsorships include tickets to the event.  Please contact Sonia Zorzos at info@oneia.ca / 416-531-7884 and she can put you in touch with the sponsorship committee.