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TORONTO, June 01, 2022 (GLOBE NEWSWIRE) — CHAR Technologies Ltd. (“CHAR Technologies” or the “Company”) (TSX Venture Exchange: YES) announces the appointment of Mr. Lewis Smith to the position of Chief Commercial Officer (CCO) effective June 1, 2022. Mr. Smith will be responsible for the growth of the Company’s High Temperature Pyrolysis (HTP) business, including development of HTP projects across North America and maximizing the value received for HTP project outputs, including renewable natural gas, green hydrogen and biocarbon. Mr. Smith has more than 25 years of experience with the clean energy and technology sectors, with recent roles that include Chief Strategy Officer & General Counsel at Modus Workflow, Chief Corporate Development Officer at GoGreen Communications Inc. and General Counsel at Emera.
Chief Executive Officer Andrew White states: “The addition of Lewis to our leadership team will assist CHAR Technologies in the commercialization stage of its proprietary High Temperature Pyrolysis (HTP) systems in North America. Lewis brings valuable experience, skills and relationships that will support successful execution on the tremendous growth opportunities we are developing to transform challenging organic waste streams (biomass, biosolids, digestate) into renewable and valuable outputs. Lewis has been assisting our internal team as a consultant for several months and we are excited to expand activities with him as we continue our mission to become a leading cleantech company.”
The Company also announces the retirement of Mr. Brian Bobbie, Chief Operations Officer (COO). Mr. Bobbie led the Company’s wholly owned subsidiary Altech Environmental Consulting (Altech) and assisted the Company in its transition from clean technology consulting activities to the development of the Company’s renewable natural gas and biochar systems utilizing its proprietary HTP systems.
Chief Executive Officer Andrew White states: “Brian’s dedication to making CHAR Technologies and Altech a leader in providing environmental knowledge and leading-edge innovation related to the environment enabled our Company to build a loyal customer base and expand into new opportunities with significant growth potential. I want to personally thank Brian for his efforts in building a strong team at Altech and for his dedication to CHAR Technologies.”
The Board of Directors has approved the issuance of 100,833 RSU’s that vest immediately and 250,000 stock options at $0.38 with a five-year term whereby 125,000 vest immediately and 125,000 vest in 12 months to certain officers, employees and consultants.
The appointment of Mr. Lewis Smith and the RSU and stock option grants are subject to TSX Venture Exchange approval.
CHAR Technologies Ltd. is a cleantech development and services company, specializing in organic waste pyrolysis and biocarbon development, custom equipment for industrial air and water treatment, and providing services in environmental management, site investigation and remediation, engineering, environmental compliance and resource efficiency.
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.
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