ANNOUNCES APPROVAL OF $1 MILLION GRANT
Char Technologies Ltd.(YES.V) has been approved for a grant totalling $1-million provided by the government of Ontario through the Ontario Centres of Excellence (OCE). The grant is in support of Char Technologies' current SulfaChar production project, which has previously received funding and support from both Sustainable Development Technology Canada (SDTC) and the Canadian Gas Association (CGA).
"This grant will allow Char to both redeploy financial resources currently committed to the SulfaChar project, while at the same time will allow Char to expand the scope of the project," said Andrew White, chief executive officer. "The funding recognizes the carbon-related benefits of the project, and will allow Char to more rapidly execute on the production and use of SulfaChar."
Funding will be disbursed on completion of three milestones. Char Technologies has received initial funding of $237,759, and will receive three additional payments on milestone and project completion.
About Char Technologies Ltd.
The corporation is in the business of producing a proprietary activated-charcoal-like material (SulfaChar), which can be used to removed hydrogen sulphide from various gas streams (focusing on methane-rich and odorous air). The SulfaChar, once used for the gas cleaning application, has further use as a sulphur-enriched biochar for agricultural purposes (saleable soil amendment product).