CHAR Technologies Ltd. (TSX Venture Exchange: YES) recently announced it has raised CDN$6,000,000 in a non-brokered placement.
CHAR Technologies is an Ontario-based cleantech development and services company, specializing in high temperature pyrolysis, converting woody materials and organic waste into renewable gases and biocarbon.
“We were very pleased with the overwhelming interest and exceptional investor support in the offering which had substantial demand beyond the placement size. We had significant institutional participation and interest,” said Andrew White, CEO. “The proceeds will not only strengthen our financial position but will also enable us to capitalize on the growing number of opportunities emerging in the Clean Tech sector for our products and technologies.”
CHAR intends to use the net proceeds of the Offering primarily for working capital needs with anticipated contracts, project development activities and investment in technology initiatives.
About CHAR Technologies
CHAR Technologies Ltd. is a cleantech development and services company, specializing in high temperature pyrolysis, converting woody materials and organic waste into renewable gases (renewable natural gas and green hydrogen) and biocarbon (activated charcoal “SulfaCHAR” and solid biofuel “CleanFyre”). Additional services include custom equipment for industrial water treatment, and providing services in environmental compliance, environmental management, site investigation and remediation, engineering and resource efficiency.