CHAR Technologies Secures $2.25 Million Grant to Boost Biocarbon Pellet Production

The latest update is out from CHAR Technologies ( (TSE:YES) ).

CHAR Technologies Ltd. has been awarded a $2.25 million grant from the Ontario government to support the commercialization of biocarbon pellets at its Thorold Renewable Energy Facility. This funding will enhance the production capabilities of biocarbon pellets, which serve as a renewable alternative to fossil carbon in steelmaking and other industrial applications. The investment not only strengthens the market for forest biomass and supports local jobs but also positions CHAR Tech to expand its market reach to European countries, aligning with the increasing demand for low-carbon industrial fuels.

The most recent analyst rating on (TSE:YES) stock is a Buy with a C$0.55 price target. To see the full list of analyst forecasts on CHAR Technologies stock, see the TSE:YES Stock Forecast page.

Spark’s Take on TSE:YES Stock

According to Spark, TipRanks’ AI Analyst, TSE:YES is a Neutral.

The overall stock score is primarily impacted by the company’s weak financial performance and unattractive valuation. While technical indicators show some short-term strength, the financial challenges and lack of earnings call data weigh heavily on the score.

To see Spark’s full report on TSE:YES stock, click here.

More about CHAR Technologies

CHAR Technologies Ltd. is a leader in sustainable energy solutions, utilizing high temperature pyrolysis technology to convert unmerchantable wood and organic wastes into renewable natural gas or green hydrogen and solid biocarbon. The company focuses on providing waste-to-energy solutions that support the global transition to green energy by diverting waste from landfills and decarbonizing heavy industry.

Average Trading Volume: 76,895

Technical Sentiment Signal: Hold

Current Market Cap: C$30.95M

See more data about YES stock on TipRanks’ Stock Analysis page.