Birchtech, which provides mercury capture technology and water purification systems, filed on Tuesday with the SEC to raise up to $20 million in an initial public offering. The company is currently listed on the OTC under the symbol "BCHTD" and the TSX under the symbol "BCHT".
The company plans to raise $20 million by offering 4.8 million shares at $4.15, the current quoted OTC price. At the proposed deal size, Birchtech would command a fully diluted market value of $102 million.
Birchtech provides specialty activated carbon technologies focused on air and water purification, primarily serving the coal-fired utility sector with mercury emissions capture solutions through its patented SEA process, currently used by 16 electric generating units in the US. It also targets the potable water market with innovative sorbent technologies designed to address forever chemicals like PFAS, supported by two dedicated Design Centers in Pennsylvania and North Dakota for research and development. The company believes that a significant percentage of coal-fired power plants in the United States are infringing upon its patented SEA process, and began actively initiating patent litigations in 2019 against multiple parties.
The Corsicana, TX-based company was founded in 1996 and booked $19 million in revenue for the 12 months ended September 30, 2025. It plans to list on the NYSE American under the symbol BCHT. Birchtech filed confidentially on October 23, 2025. Lake Street Capital Markets and Huntington Investment are the joint bookrunners on the deal.
