Once permits to build the facility are approved, Pure Biochar intends to seek a planned listing on a favourable exchange in February 2023 to finance the construction of the production plant, which they aim to be commercially operational in Q4 2023.
To support this, the company is already in talks to form offtake agreements with potential biomass suppliers and customers wanting to purchase biochar.
Many case studies have shown that carbon from biochar leads to significant CO2 savings and can avoid a large portion of direct emissions, which is why the company will be targeting high-value, carbon-intensive industries.
- Steel/iron production: As a renewable fuel source, biochar is gaining interest as an alternative to coal and coke in steel/iron making.
- Building materials: Studies have further shown that biochar-containing building materials have a great potential for carbon footprint reduction.
- Agriculture: Biochar-based compound fertilisers have been proven to enhance crop yields and modify soil properties, which is why there is now commercial production across the globe.
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