CHAR Technologies and LNFMI Achieve Milestone with New Facility Licence

CHAR Technologies ( (TSE:YES) ) has issued an update.

CHAR Technologies Ltd. celebrates a significant milestone as its First Nation partners, Lake Nipigon Forest Management Inc., secure a Forest Resource Processing Facility Licence. This approval allows the operation of a BioHub forestry processing facility in Ontario, which will supply feedstock to a co-developed renewable energy facility with CHAR Tech. The project, supported by the Ontario government, is expected to generate over C$70 million annually in revenue from renewable fuels and biocarbon, marking a transformative step for Indigenous-led forestry and Ontario’s clean energy future.

The most recent analyst rating on (TSE:YES) stock is a Buy with a C$0.55 price target. To see the full list of analyst forecasts on CHAR Technologies stock, see the TSE:YES Stock Forecast page.

Spark’s Take on TSE:YES Stock

According to Spark, TipRanks’ AI Analyst, TSE:YES is a Neutral.

The overall stock score is primarily impacted by significant financial challenges, including high leverage and negative cash flows. Technical indicators suggest bearish momentum, and the valuation is unattractive due to ongoing losses and no dividend yield. These factors collectively contribute to a low overall score.

To see Spark’s full report on TSE:YES stock, click here.

More about CHAR Technologies

CHAR Technologies Ltd. is a leader in sustainable energy solutions, utilizing high temperature pyrolysis technology to process unmerchantable wood and organic wastes. This process generates renewable natural gas or green hydrogen and solid biocarbon, which serves as a carbon-neutral replacement for metallurgical coal, aligning with global green energy transition goals.

Average Trading Volume: 62,530

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$24.5M

Learn more about YES stock on TipRanks’ Stock Analysis page.