CHAR Tech Transfers Altech Environmental Consulting to Cambium Inc.

On November 4, 2024, CHAR Technologies, commonly known as CHAR Tech, announced an important development regarding its business strategy. The company, which specializes in sustainable energy solutions, has decided to transition the Altech Environmental Consulting team and its associated assets to Cambium Inc. Cambium is recognized for providing Environmental Consulting and Geotechnical Engineering services throughout Ontario.

This transition is a strategic move for CHAR Tech, aimed at allowing the company to better concentrate on its renewable energy initiatives. By transferring Altech’s team, projects, clients, and intellectual property to Cambium, CHAR Tech ensures that these assets will continue to operate seamlessly under a reputable brand.

Focus on Renewable Energy

CHAR Tech's decision supports its long-term goals for 2025, allowing the company to allocate resources toward more significant projects, particularly those involving the build, ownership, and operation of commercial woody biomass to renewable energy initiatives. Cambium’s acquisition will also enable it to enhance its environmental consulting offerings, which will be beneficial for the clients of Altech.

Andrew White, the CEO of CHAR Tech, expressed optimism about the transition, stating that this move would allow results-focused efforts while ensuring that Altech employees will continue to thrive within Cambium. He acknowledged the hard work and dedication of Altech's team over the years, emphasizing their valuable contributions to the industry.

Update on North American Equipment Supply Strategy

In addition to the transition involving Altech, CHAR Tech revealed an update concerning its North American Equipment Supply strategy, which was initially announced on July 4, 2023. The update involves terminating the Exclusive License Agreement between CHAR Biocarbon Inc., a fully owned subsidiary of CHAR Tech, and Actinon Pte. Ltd., the parent company of Anergy, a supplier of kiln equipment based in Singapore.

However, as clarifications emerged regarding the termination notice provided by CHAR Biocarbon in 2022, it became apparent that Actinon claimed the notice was only effective 36 months after its delivery. This development emphasizes CHAR Tech's commitment to navigate its operational strategies carefully despite challenges.

About CHAR Tech

CHAR Technologies is known for its innovative high-temperature pyrolysis (HTP) technology, which processes unmerchantable wood and organic wastes. This process generates two renewable energy revenue streams: renewable natural gas (RNG) or green hydrogen, as well as a solid biocarbon, which serves as a carbon-neutral alternative for metallurgical coal, commonly utilized in steel production.

The work performed by CHAR Tech is aligned with global initiatives to transition towards greener energy solutions. By diverting waste from landfills and producing sustainable clean energy, the company aims to significantly contribute to decarbonizing heavy industry across North America.

business, environment, energy, consulting