Elkem Sells Saguenay Biocarbon Business to CHAR Tech and Secures Long-Term Supply

Elkem ASA ( (ELKEF) ) has provided an update.

Elkem ASA has agreed to sell its biocarbon business in Saguenay, Québec, including a pilot and demonstration facility and proprietary technology, to CHAR Technologies, while securing a five-year offtake agreement for 62,500 tonnes of biocarbon. The Saguenay plant, initially built in 2022 and proven in industrial tests for ferrosilicon production, will be upgraded by CHAR Tech to commercial scale output of up to 15,000 tonnes of pelletised biocarbon annually, ensuring Elkem a reliable low-carbon input for its Canadian and European smelters and reinforcing its decarbonisation and ESG-driven growth strategy.

The agreement enables Elkem to scale its validated biocarbon process without owning the Saguenay facility, leveraging CHAR Tech’s production platform to support heavy industrial decarbonisation, particularly in ferrosilicon. This structure allows Elkem to focus on its core silicon-based materials business while maintaining secure access to biocarbon, strengthening its competitive positioning in low-carbon materials and offering longer-term benefits for customers and shareholders committed to sustainability.

The most recent analyst rating on (ELKEF) stock is a Buy with a NOK33.00 price target. To see the full list of analyst forecasts on Elkem ASA stock, see the ELKEF Stock Forecast page.

More about Elkem ASA

Elkem ASA is a Norway-based global provider of advanced silicon-based materials, including silicones, silicon products and carbon solutions for industrial customers. Founded in 1904, the company focuses on combining natural raw materials with renewable energy to support more sustainable production, and its shares are listed on the Oslo Stock Exchange under the ticker ELK.

YTD Price Performance: -5.71%

Average Trading Volume: 1,409,049

Current Market Cap: NOK18.16B

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