CHAR Tech Congratulates Project Partner LNFMI For Securing New Forest Resources Processing Facility Licence

(MENAFN- GlobeNewsWire - Nasdaq) TORONTO, Sept. 25, 2025 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“ CHAR Tech ” or the“ Company ”) (TSXV:YES), a leader in sustainable energy solutions, is proud to celebrate a historic achievement by its First Nation partners, Lake Nipigon Forest Management Inc . (“ LNFMI ”), which have secured a Forest Resource Processing Facility Licence (“ Facility Licence” ). This Facility Licence allows for the operation of LNFMI's BioHub forestry processing facility near Hurkett, Ontario, which will be the primary feedstock supplier to the CHAR Tech renewable energy facility under co-development with LNFMI. The co-developed facility has completed initial civil works, with full construction targeted to commence in 2026.

The Facility Licence approval marks a generational milestone for Ontario's forestry sector and for the four First Nation communities that comprise LNFMI: Animbiigoo Zaagi'igan Anishinaabek, Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek, and Red Rock Indian Band. By authorizing the construction and operations of the BioHub, the province has enabled these communities to centralize forestry operations, expand primary forestry sales channels, and build new capacity for processing and managing wood fibre.

For CHAR Tech and LNFMI, the BioHub represents a strategic milestone in the advancement of their co-developed wood waste–to–renewable energy facility. With an onsite, long-term feedstock supply of forestry wood waste now secured, and initial civil works completed in 2025, the partners are advancing to the next funding stage. CHAR Tech and LNFMI will pursue full construction financing for the renewable energy facility through a combination of project-level equity, non-repayable grants and project-level non-recourse debt.

Once fully-operational, the renewable energy facility is expected to generate annual revenues of more than C$70 million from the sale of renewable fuels and biocarbon, supported by long-term offtake agreements.

“This is a generational milestone not just for LNFMI but for Indigenous-led forestry and Ontario's clean energy future,” said Scot Rubin, CEO of LNFMI.“By securing a Facility Licence, LNFMI has opened the door to new economic opportunities, sustainable forestry growth, and the development of renewable energy infrastructure that will serve communities for decades to come.”

“The BioHub represents a transformative step forward for our partnership with LNFMI and for Ontario's clean energy future,” said Andrew White, CEO of CHAR Tech.“By securing access to long-term wood waste supply, we are positioned to advance construction of a renewable energy facility in 2026 that will deliver meaningful economic benefits, support Indigenous-led development, and help Ontario meet its advanced biofuels and decarbonization goals.”

“Our government is proud to support the development of this BioHub with investments under our Forest Biomass Program,” said Kevin Holland, Associate Minister of Forestry and Forest Products.“Together, Lake Nipigon Forest Management Inc. and CHAR Technologies are putting forest biomass to work and creating new opportunities in forestry to build a stronger, more resilient forest sector.”

CHAR Tech and LNFMI extend thanks to the Government of Ontario, including the Ministry of Natural Resources, for their support in advancing this transformative project. The approval directly aligns with the province's mandate to strengthen Northern Ontario's economy and accelerate advanced biofuels development. The BioHub reflects the objectives of the Made-in-Ontario Environment Plan and the Growth Plan for Northern Ontario, while laying the foundation for CHAR and LNFMI's renewable energy facility.

About CHAR Tech

CHAR Tech (TSXV:YES) first-in-kind high temperature pyrolysis (HTP) technology processes unmerchantable wood and organic wastes to simultaneously generate two renewable energy revenue streams, renewable natural gas (RNG) or green hydrogen and a solid biocarbon that is a carbon neutral drop-in replacement for metallurgical steel making coal.

CHAR's HTP is an ideal waste to energy solution that aligns with the global green energy transition by diverting waste from landfills and generating sustainable clean energy to decarbonize heavy industry.

For further information, please contact:

Andrew White Chief Executive Officer CHAR Technologies Ltd. E: ... T: 866 521-3654

Galen Cranston Director of Stakeholder Relations CHAR Technologies Ltd. E: ... T: 647-546-5633

Website:

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy of this news release.

About LNFMI

Lake Nipigon Forest Management Inc. is a partnership between Animbiigoo Zaagi'igan Anishinaabek, Bingwi Neyaashi Anishinaabek, Biinjitiwaabik Zaaging Anishinaabek, and Red Rock Indian Band to manage the Lake Nipigon Forest under a long-term Sustainable Forest Licence. With a total land base of 986,782ha located approximately 1.5 hr east of Thunder Bay, LNFMI manages a total allowable cut of 1.5 million cubic meters of wood annually.

Forward-Looking Statements

Statements contained in this press release contain“forward-looking information” within the meaning of Canadian securities laws (“forward-looking statements”) about CHAR and its business and operations. The words "may", "would", "will", "intend", "anticipate", "expect" and similar expressions as they relate to CHAR, are intended to identify forward-looking information. Forward-looking statements include, but are not limited to, statements relating to the timing for full facility construction, securing project financing, expectations regarding the offtake agreements, future plans, operations and activities, expectations regarding the scale up of production, and other statements that are not historical facts. Such statements reflect CHAR's current views and ‎intentions with respect to future events, and current information available to CHAR, and are subject to ‎certain risks, uncertainties and assumptions, including, among others, those risk factors discussed or referred to in CHAR's disclosure documents filed with the securities regulatory authorities in certain provinces of Canada, including the Management Discussion & Analysis dated January 28th, 2025 for the fiscal year ended September 30, 2024, and available under CHAR's profile on . Any such forward-looking information is expressly qualified in its ‎entirety by this cautionary statement. Moreover, CHAR does not assume responsibility for the accuracy or ‎completeness of such forward-looking information. The forward-looking information included in this press release ‎is made as of the date of this press release and CHAR undertakes no obligation to publicly update or revise ‎any forward-looking information, other than as required by applicable law.

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