Chapleau BioCarbon Signs Long-Term Biomass Fuel Supply Agreement with NB Power

NORTH BAY, Ontario--(BUSINESS WIRE)--Chapleau BioCarbon Inc. (“CBC”) today announced it has signed a long-term biomass fuel supply agreement with NB Power in support of the utility's plan to convert its Belledune Generating Station from coal to sustainably sourced advanced pellets.

The agreement, one of several supply agreements announced by NB Power following its Board of Directors’ approval in August 2026, represents an important commercial milestone for CBC’s proposed torrefied biomass project in Chapleau, Ontario. CBC continues to advance the proposed project through detailed engineering and financing work.

CBC would supply 75,000 metric tonnes per year of torrefied wood pellets produced at CBC's planned facility in Chapleau, Ontario, under a contract running through March 31, 2040.

“This agreement is a major milestone for Chapleau BioCarbon and provides an important commercial foundation as we advance the project,” said Steve Duchesne, President & CEO of Chapleau BioCarbon Inc. “Securing long-term demand from NB Power provides a strong foundation for the next stages of development as we continue advancing the technical, economic and financing work needed to bring the project forward.”

The proposed Chapleau facility is being designed to produce torrefied biomass pellets using sustainably sourced wood fibre from Northern Ontario, creating new value from wood fibre and forestry residuals while supporting a sustainable and traceable supply chain. Once operational, the facility is expected to create up to 30 direct and 70 indirect jobs over the long term.

NB Power has identified the conversion of the Belledune Generating Station to advanced wood torrefied pellets as its preferred option to maintain the station’s contribution to New Brunswick’s electricity system while meeting federal coal phase-out requirements. The conversion is intended to allow the station to continue operating beyond 2030 while supporting reliability, energy security and a lower-carbon electricity supply.

About Chapleau BioCarbon Inc.

Chapleau BioCarbon Inc. is advancing the development of a proposed 135,000-tonne torrefied biomass pellet and soil amendment production facility in Chapleau, Ontario. The project is being developed in collaboration with GreenFirst Forest Products Inc. and Chapleau-area First Nations and is expected to be one of the largest facilities of its kind in North America.

The proposed project is intended to convert sustainably sourced wood fibre into advanced, high-energy-density biomass pellets for renewable energy and soil amendment markets.