CHAR Tech and the BMI Group Forge Strategic Partnership to Accelerate Renewable Energy Projects and Announce $2M Private Placement

TORONTO, May 02, 2025 (GLOBE NEWSWIRE) -- CHAR Technologies Ltd. (“CHAR Tech” or the “Company”) (TSXV:YES), a leader in sustainable energy solutions, is thrilled to announce CHAR Tech and The BMI Group, a leading industrial development company, intend to complete a non-brokered private placement for total gross proceeds of C$2,000,000 (the “Offering”) and that the two companies have signed a binding Letter of Intent (“LOI”) to establish the framework for a strategic partnership, including the acceleration of commercial biocarbon production timelines of the CHAR Tech Thorold Renewable Energy Facility (“CHAR Tech Thorold”) targeted for completion by calendar Q4 2025.