CHAR acquires Altech Group, plans to produce biocoal
Jan. 5, 2018 - Mississauga, Ont.-based CHAR Technologies has closed on its acquisition of Toronto's Altech Group and has announced plans to manufacture and sell a biocoal product branded as CleanFyre. The GHG neutral product will be marketed as a cost-effective coal replacement.
By Maria Church
“CleanFyre will leverage both Altech’s experience and expertise, and CHAR’s platform pyrolysis technology, the same technology used to create SulfaCHAR, to create a solution with strong market pull and significant growth opportunity,” CHAR CEO Andrew White said in a news release.
CHAR currently produces SulfaCHAR, which can be used to removed hydrogen sulfide from gas streams with a focus on methane-rich and odorous air. SulfaCHAR can also be used as a sulfur-enriched biochar for agriculture.
Altech – an environmental consulting company and provider of air pollution control and water treatment technology – currently has 12 employees. CHAR acquired all of the outstanding shares in both Altech Environmental Consulting Ltd. and Altech Technology Systems Inc.
“The acquisition of the Altech Group adds over 30 years of experience in environmental technologies and professional engineering consulting,” CHAR chairman Bill White said in the release. “Altech provides CHAR with a growth catalyst to move much of our engineering design in-house, while at the same time allows us to greatly expand our technology solutions offering for industrial clean air and clean water.”
Alexander Keen, founder and CEO of Altech, said in the release, “CHAR brings an exciting future for Altech. Our joint efforts going forward will bring tremendous opportunities.”