Arizona Tribune - bioEnergy Development Inc. Advances Domestic Activated Carbon Production Worth Up to $30 Million Over 5 Years

SPOKANE, WA / ACCESS Newswire / April 7, 2026 / BioEnergy Development Inc., OTC:CNER (BDI), (formerly China New Energy Group Company), today announced a strategic investment from Opala Energy 1 LLC to deploy a premium Activated Carbon ("AC") production module in Columbia Falls, Montana. The facility is designed to produce 3,000 dry tons per year of ID1000 and ID1200 grade AC - with carbon concentrations up to 92% - from domestic wood waste and tree nut shells, including walnut, almond, and pistachio. AC in these grades commands market pricing of $2,000 to $4,000 per ton^[5]. BDI is actively pursuing offtake commitments with major U.S. water treatment operators and industrial AC buyers.

A Federal Mandate. A Supply Crisis. A Domestic Answer.

The EPA's April 2024 PFAS National Primary Drinking Water Regulation - the first-ever legally enforceable federal PFAS rule - identified AC as a Best Available Technology for compliance, requiring hundreds of water utilities to deploy or expand AC systems^[3]. An estimated 100 million Americans are expected to gain protection under the rule^[4].

The problem: nearly 49% of global AC supply is controlled by Asia-Pacific producers, with China dominant^[1]. Major domestic producers have publicly flagged an acute supply shortage^[2].

- Gary Bartholomew, CEO, BioEnergy Development Inc.

Unit 1: Montana -Premium-Grade AC

Under an arrangement with Energy Junction 1, LLC (EJ1) - an independent business operating in Montana that owns the eXRGY^™ bioreactor technology and operates the Montana unit - BDI will supply the Activated Carbon Module, and EJ1 will operate it.

Projected upon commissioning: 3,000 dry tons/year of ID1000 AC at up to 90% fixed carbon purity - generated from 100% U.S. Douglas fir and pine mill residuals, powered entirely by on-site syngas. BDI intends to certify to the NSF/ANSI 61 standard for municipal drinking water.

Steam activation is power-intensive; conventional producers pay grid rates. The eXRGY BioReactor generates all the required energy from the same biomass waste stream that produces the activated carbon - an architecture we believe permanently eliminates this cost and insulates economics from energy price volatility.

The Scale-Up: Projected Revenue Potential

BDI's model is engineered for replication. BDI has identified additional sites across the U.S. co-located with biomass processors and agricultural tree nut operations. A four-unit fleet projected to be operational in 2026 will produce up to 12,000 tons/year of AC in a market valued at $1.7B in 2024, projected to reach $2.0B by 2032 ^[6]. Premium high-quality AC has historically sold for $2,000 to $4,000 per dry ton^[5]. Energy prices and demand constraints are driving the price higher.

Investment Structure: Built-In Tax Advantage

The Opala Energy investment in the AC Module is structured to qualify for the Investment Tax Credit (ITC) under the Inflation Reduction Act (IRA), as well as bonus depreciation under IRC §168(k). Projects of this type - clean energy equipment that meets applicable IRA criteria - may allow Opala to significantly reduce its net capital deployment in Year 1 through federal tax credits and accelerated depreciation, before a single ton of AC is sold. Opala Energy intends to utilize these incentives as part of its investment return profile. BDI anticipates that future bioGrid deployments may be financed through tax-equity structures similar to those used for the Opala Energy investment.

About BioEnergy Development Inc.

BioEnergy Development Inc. (OTC:CNER) develops, owns, and operates BioGrid^™ infrastructure that converts secured biomass waste streams into firm, behind-the-meter renewable power and high-value biocarbon products. The Company partners with industrial resource owners to transform underutilized waste into scalable energy assets across rural and industrial regions of North America and around the Globe.

About Opala Energy 1 LLC

Opala Energy 1 LLC acquires and owns bioenergy and waste-to-energy equipment assets that it leases to operating projects across the United States, with plans to expand internationally. Currently acquiring its first qualified clean energy equipment asset, Opala is deploying capital into a tax-efficient investment model that enables investors to participate in the growth of the circular green economy while seeking to benefit from available federal incentives, including the Investment Tax Credit and bonus depreciation. Opala's expertise lies in structuring transactions designed to generate superior risk-adjusted returns while accelerating the adoption of sustainable infrastructure.

CITATIONS AND SOURCES

^[1] Grand View Research, Global Activated Carbon Market Report, 2025: "Asia Pacific dominated the market with the largest revenue share of 48.9% in 2025." grandviewresearch.com/industry-analysis/activated-carbon-market. Fortune Business Insights, 2024: "China leads both production and consumption, supported by abundant raw material availability and low costs." fortunebusinessinsights.com/activated-carbon-market-102175

^[2] Arq, Inc. Press Release, April 10, 2024: CEO Bob Rasmus stated EPA PFAS regulations are "exacerbating the supply shortage already present in the GAC market." arq.com/press-releases. Mordor Intelligence, Activated Carbon Market Report, January 2026: "Calgon Carbon launched 'Operation Bedrock' in 2025 to secure long-term supply for major utilities." mordorintelligence.com/industry-reports/activated-carbon-market

^[3] U.S. EPA, PFAS NPDWR Fact Sheet - Treatment, April 2024: "Granular activated carbon, anion exchange, reverse osmosis, and nanofiltration were identified by the EPA as the Best Available Technologies for meeting the PFAS Maximum Contaminant Levels." epa.gov/system/files/documents/2024-04/pfas-npdwr_fact-sheet_treatment_4.8.24.pdf

^[4] U.S. EPA, PFAS NPDWR General Fact Sheet, April 2024: Rule expected to reduce PFAS exposure for approximately 100 million Americans. epa.gov/system/files/documents/2024-04/pfas-npdwr_fact-sheet_general_4.9.24v1.pdf

^[5] IMARC Group, Activated Carbon Price Index, Q3 2025: U.S. activated carbon prices averaged $2,089/MT in Q3 2025, reaching $2,204/MT in Q1 2026. imarcgroup.com/activated-carbon-pricing-report. IndexBox, U.S. Activated Carbon Market, 2025: U.S. average import price reached $2,771/tonne and export price $5,627/tonne in May 2025. indexbox.io/search/activated-carbon-price-the-united-states

^[6] Polaris Market Research, U.S. Activated Carbon Market Report, 2024: U.S. market valued at $1.214B in 2024, projected to reach $2.799B by 2034 at 8.8% CAGR. polarismarketresearch.com/industry-analysis/us-activated-carbon-market. Fortune Business Insights: U.S. market projected to reach $2.00B by 2032. fortunebusinessinsights.com/activated-carbon-market-102175

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements, other than statements of present or historical fact, included in this press release, regarding the Company's future financial performance, as well as the Company's strategy, future operations, revenue guidance, projected costs, prospects, plans, and objectives of management are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such identifying words. These forward-looking statements are based on management's current expectations and assumptions about future events. They are based on currently available information about the outcome and timing of future events. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Nothing in this release is intended to be an offer of sale or purchase of any securities nor a solicitation of any offer for the sale or purchase of any securities.

bioEnergy Development Inc. (formerly China New Energy Group Company)

For more information: www.bioenergydev.com

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Offtake inquiries & business development:

Gary Bartholomew, CEO / Business Development
[email protected]

SOURCE: bioEnergy Development Inc.

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