CHAR Tech closes acquisition of Elkem’s Biocarbon assets in Saguenay, Quebec

CHAR Technologies closed the asset purchase transaction with Elkem (ELKEF) to acquire Elkem’s Biocarbon assets. The Acquisition includes the physical pilot and demonstration production facility located in Saguenay, Quebec, proprietary intellectual property and related liabilities. A definitive biocarbon offtake agreement and related royalty agreement has also been entered with Elkem in connection with the Acquisition, securing 62,500 tonnes of supply over five years at 12,500 tonnes per year.