Birchtech Corp (BCHT) is an environmental technology company that develops and commercializes mercury emission control technologies for coal-fired power plants and is expanding into water treatment. Revenue comes from product sales, license fees, and patent litigation enforcement, with the company pursuing infringers of its two-part Sorbent Enhancement Additive (SEA®) process as a route to converting unauthorized users into paying customers. As of December 31, 2025, Birchtech held 18 granted patents worldwide covering mercury removal, including 13 U.S. patents and 5 foreign patents in Canada, Europe, and China, with expiration dates ranging from January 2026 to September 2034. The company is pre-profitability, reporting net losses in both FY2025 and FY2024, with selling, general and administrative expenses including $450,000 in related-party costs in FY2025. Richard MacPherson serves as President and Chief Executive Officer, as indicated by the 10-K signed March 31, 2026.

Revenue model

Product revenue, license revenue, and other revenue, as categorized in the FY2025 income statement. The company also pursues patent litigation against alleged infringers of its SEA® mercury removal process, with a stated strategy of converting infringers into supply chain or licensing customers.

Products and services

SEA® (Sorbent Enhancement Additive) two-part process for mercury capture in coal-fired flue gas. Technologies use brominated powdered activated carbon (BAC) and granular activated carbon (GAC). Water treatment technologies are in early development, with two provisional U.S. patent applications and two PCT applications filed as of the 10-K filed March 31, 2026.

Customers and end markets

Coal-fired electric generating units (EGUs) in the United States are the primary end market for mercury emission control products. Water treatment, including PFAS removal for public water systems subject to the EPA's April 2024 drinking water standard, is a developing target market.

Value-chain role

Technology developer and product supplier of mercury sorbent additives to coal-fired power plants. Also acts as a patent licensor and litigant enforcing intellectual property rights against alleged infringers.

Geographic exposure

Primary operations in the United States. Patent portfolio includes grants in Canada, Europe, and China as of December 31, 2025.

Competitors

Arq, Inc. (formerly Advanced Emissions Solutions, Inc.), Norit Activated Carbon

Source: SEC 10-K, filed 2026-03-31

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