Birchtech (BCHT) Investor presentation summary

Business overview and market positioning

• Develops activated carbon technologies for mercury and PFAS removal in air and water, leveraging a team of industry-leading experts.

• Patented SEA® sorbent technology used at 80% of U.S. coal-fired power plants with sorbent systems.

• Entered the multi-billion-dollar PFAS water treatment market, applying air expertise to water.

• Regulatory tailwinds from EPA air (MATS) and water (PFAS) regulations support long-term growth.

• Strong IP portfolio with $37M secured from license agreements and legal claims since 2020.

Technology and solutions

• SEA® technology is a two-part system for mercury removal, customized for each power plant.

• Water business structured in three tiers: design centers, water treatment solutions, and carbon rejuvenation services.

• Design centers provide rapid, cost-effective testing and analytics for optimal PFAS removal.

• Supplies both virgin and rejuvenated GAC, with rejuvenation reducing lifecycle costs by 30-50%.

• Planned rejuvenation facility with $50M revenue capacity, supporting high-margin, sustainable PFAS compliance.

Financial performance and revenue model

• Recurring revenue base in air business with 30%+ gross margins; water business targets ~50% gross margins.

• Q3 2025 revenue of $7.4M, gross margin 54.8%, TTM revenues and legal claims income $19.4M.

• Final judgment award of $78.4M plus post-judgment interest from IP litigation.

• No debt outstanding as of Q3 2025 after repaying $13.1M in 2024.

• Average annual revenue per power utility customer is $2M, with long-term recurring supply contracts.