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Birchtech Corp. (BCHT) has released its Q3 2024 financial results, reporting revenues of $5.2 million against total costs of $6.0 million, resulting in a net loss of $0.47 million. The company maintains a stable financial position with $4.4 million cash on hand and working capital of $3.6 million. A significant milestone was the repayment of remaining principal balance to AC Midwest Energy, leaving only non-recourse profit share liability. The company is focusing on expanding into new markets, particularly in potable water treatment, while maintaining its core business in mercury emissions capture technologies.
Birchtech Corp. (TSX: BCHT) has received final approval for listing its common shares on the Toronto Stock Exchange (TSX), with trading commencing November 12, 2024, under the symbol 'BCHT'. The company will delist from the TSX Venture Exchange, with no required action from shareholders. This follows the company's recent rebranding from its previous symbol 'MEEC' to 'BCHT' on October 17, 2024.
The upgrade to the main board aims to increase visibility among investors and institutional firms in Canada, Europe, and Asia, particularly those interested in environmental technologies. The company is expanding into water treatment, focusing on PFAS removal through carbon development and analysis.
Birchtech Corp. (TSXV: BCHT) (OTCQB: BCHT) has announced a significant feedstock agreement for its water treatment division, WE2C Environmental. The company has secured a deal to purchase up to 2,000 tons of feedstock annually, which has the potential to generate an estimated $7 million in annual product sales for Birchtech's water purification market.
This agreement follows Birchtech's recent rebranding and entry into the water market with innovative lab centers. The feedstock will be used to treat drinking water and will be offered to multiple markets across the U.S. Birchtech's National Director of Sales, Dennis Baranik, stated that this competitive feedstock will meet the growing demand from water utilities seeking operational experience with this media.
The announcement complements Birchtech's recent establishment of two unique labs designed to provide utilities with smarter, more affordable solutions in compliance with U.S. EPA's PFAS regulations. CEO Richard MacPherson emphasized that this agreement will support early market adoption within the water treatment market and enable WE2C to offer highly effective and affordable activated carbon products for contaminant removal, including PFAS.
Birchtech Corp. (TSXV: BCHT) (OTCQB: BCHT), formerly Midwest Energy Emissions Corp., has begun trading under its new stock symbol [BCHT] on both the OTCQB in the U.S. and TSX-V in Canada as of October 17, 2024. The company, a leader in environmental technologies, has rebranded to better reflect its corporate mission and diversification. A special shareholder webinar is scheduled for October 22, 2024, at 11:30 a.m. ET to discuss the strategic vision behind the rebrand.
The webinar will feature CEO Richard MacPherson, National Sales Director Dennis Baranik, and WE2C Environmental Division Director Dr. David Mazyck. They will explain how the new brand aligns with Birchtech's long-term vision and growth strategies, particularly in developing affordable and effective solutions for clean water, including PFAS technology.
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