Haffner Energy wins €3.2M order for Quebec renewable hub

Haffner Energy has secured a €3.2 million contract with INCAD for Quebec's first Multi-Energy Hub in Bécancour, focusing on biomass-to-energy technology. This project will produce renewable natural gas (RNG) and biochar, a carbon-rich material used for soil enhancement and carbon sequestration.

The contract, signed on September 25, 2026, includes six pre-manufactured equipment units from Haffner Energy's inventory and associated engineering services. Additional equipment will be produced in Canada under Haffner Energy's license. Initial equipment delivery is expected by the end of 2026, contingent on transportation and logistics.

The agreement outlines an accelerated payment structure, with a €480,000 upfront payment due by October 12, 2026. The remaining 75% of the contract value will be invoiced within 30 days of FOB delivery. As the equipment is already manufactured, Haffner Energy anticipates cash inflows without significant new industrial expenditure.

Haffner Energy expects the contract to enhance near-term revenue and earnings. Using a percentage-of-completion accounting method, the company may recognize a substantial portion of the contract revenue within the current financial year.

The INCAD order is distinct from Haffner Energy's broader licensing agreement with Mundi Énergies, which involves deploying the technology across Canada. Haffner Energy has received a €1 million upfront licensing payment and holds a 49% stake in Mundi Haffner Technologies Inc.

Located in the Bécancour Industrial and Port Park, the INCAD facility aims to produce approximately 400 Nm³/h of RNG from residual biomass, with commissioning targeted for the second quarter of 2028. The project will also generate biochar and thermolysis oil for renewable diesel and sustainable aviation fuel demonstrations, supporting the SB-HEFA pathway.

INCAD is set to be the first of around 20 planned Multi-Energy Hubs across Quebec, with future facilities expected to operate at larger capacities. This model could provide Haffner Energy with diverse revenue streams, including equipment sales, engineering, licensing royalties, and local manufacturing.

The companies are advancing subsequent developments, with several Quebec sites moving beyond feasibility studies toward biomass-supply arrangements. The Bécancour project will showcase Haffner Energy's technology in converting biomass into RNG, biochar, and liquid-fuel feedstocks across Canada and North America.

The project is expected to boost demand for residual biomass, RNG, biochar, and renewable-fuel feedstocks, while creating technology and equipment demand as similar hubs are developed. Although the €3.2 million order alone may not significantly impact chemical prices, expanded RNG and renewable-fuel production could increase demand for catalysts, adsorbents, and specialty materials used in gas upgrading and fuel processing.