olivLaw · US equity research
Birchtech Corp. BCHT
Measuring & Controlling Devices, NEC · SIC 3829 · Vertical: Measuring & Controlling Devices, NEC (SIC 3829)
Birchtech Corp. develops specialty activated carbon technologies for air purification, mainly capturing mercury from coal-fired power plants, and is expanding into drinking-water treatment against PFAS. The company guided to revenues of at least 23 mn USD for 2025 and management expects an air-business run-rate of at least 40 mn USD by the end of 2026.
At the close of 04 Nov 2026, Birchtech Corp. (BCHT) stock was 1.10 USD (−1.79% on the day), with market capitalisation 28.9 m USD, beta 0.83, 52-week range 1.09–4.75 USD. Latest reported quarter (Q2 2026): revenue of 3.8 m USD (+16.5% YoY), net income of -3.0 m USD, diluted EPS -0.11 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 34.5
- weak (30–45)
- Bollinger (20, 2)
- 1.01 – 1.45
- in the lower half of the band · %B 0.21 · band width 35.5%
- SMA 50 / 200
- 1.35 / 1.92
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.08 / -0.07
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −24.7% | −1.1% | −23.6 pp | — |
| 3 months | −19.7% | −0.5% | −19.3 pp | — |
| 6 months | −27.2% | +4.4% | −31.5 pp | — |
| Year to date | −70.7% | +12.3% | −83.0 pp | — |
| 1 year | −70.3% | +13.5% | −83.8 pp | −30.9% |
| 3 years | −47.6% | +76.4% | −124.0 pp | +16.9% |
| 5 years | −74.7% | +63.7% | −138.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5.2 m | 5.6 m | 3.2 m | 3.3 m | 7.4 m | 3.8 m | 4.2 m | 3.8 m |
| Cost of revenue | 3.6 m | 2.2 m | 2.0 m | 2.3 m | 3.3 m | 2.6 m | 2.9 m | 2.8 m |
| Gross profit | 1.6 m | 3.3 m | 1.2 m | 968.1 k | 4.0 m | 1.2 m | 1.4 m | 1.0 m |
| Research & development | 0 | 0 | 406.7 k | 455.5 k | 473.3 k | 469.7 k | 550.6 k | 587.4 k |
| SG&A | 2.7 m | 3.4 m | 2.2 m | 1.7 m | 2.7 m | 2.0 m | 2.0 m | 2.1 m |
| Operating income | -1.1 m | -78.8 k | -1.3 m | -1.2 m | 810.8 k | -1.3 m | -1.1 m | -1.6 m |
| Interest expense | 7.4 k | 8.5 k | 54 | 0 | 0 | 13.6 k | 0 | 0 |
| Pre-tax income | -751.7 k | -1.3 m | -1.7 m | -1.5 m | 788.6 k | -538.0 k | -1.3 m | -3.0 m |
| Income tax | -294.2 k | 4.7 k | 14.1 k | 409 | 629 | 54.9 k | 357 | 3.4 k |
| Net income | -457.5 k | -1.3 m | -1.7 m | -1.5 m | 788.0 k | -592.9 k | -1.3 m | -3.0 m |
| Diluted EPS | 0.00 | — | -0.09 | -0.08 | 0.01 | — | -0.06 | -0.11 |
| Operating cash flow | -152.2 k ≈ | -830.4 k | -254.3 k | -1.7 m ≈ | 321.3 k ≈ | 964.4 k | -2.2 m | -2.8 m ≈ |
| Capex | 635.8 k ≈ | 107.4 k | 14.2 k | 2.1 k ≈ | 7.1 k ≈ | 5.9 k | 0 | 122.2 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12.3 m | 11.4 m | 8.2 m | 13.0 m | 21.6 m | 17.6 m | 17.4 m | 17.6 m |
| Revenue YoY | −55.3% | −7.1% | −28.5% | +59.5% | +66.2% | −18.5% | −1.2% | +1.3% |
| Net income | -4.8 m | -6.1 m | -5.8 m | -3.6 m | -1.6 m | 5.7 m | -10.8 m | -3.0 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −290.6% | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | -0.02 | 0.06 | -0.57 | -0.16 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −1,050.0% | unavailable |
| net % | -39.2% | -53.4% | -71.4% | -27.9% | -7.3% | 32.2% | -62.1% | -17.2% |
| Free cash flow | unavailable | unavailable | -1.2 m | -217.0 k | 60.3 k | 19.2 m | -4.9 m | -729.4 k |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 2.2 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- -1.7 m USD
- Total assets
- 9.2 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.47x
- ROE
- unavailable
- ROA
- -31.0%
- FCF margin
- -4.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.2 m | 13.0 m | 21.6 m | 17.6 m | 17.4 m | 17.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 5.4 m | 7.9 m | 14.6 m | 12.2 m | 10.3 m | 10.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Gross profit | 2.7 m ≈ | 5.1 m ≈ | 7.0 m | 5.5 m | 7.1 m | 7.4 m | SEC (XBRL)· 31 Mar 2026verified |
| Research & development | — | — | — | — | 0 | 1.8 m | SEC (XBRL)· 31 Mar 2026verified |
| SG&A | 5.9 m | 5.9 m | 6.1 m | 14.2 m | 14.2 m | 8.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | — | — | 904.0 k | -9.0 m | -7.2 m | -3.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 188.7 k | 68.5 k | 11.7 k | 12.9 k | 11.7 k | — | SEC (XBRL)· 31 Mar 2025verified |
| EBITDA | — | — | 915.7 k ≈ | -9.0 m ≈ | -7.1 m ≈ | — | SEC (XBRL)· 31 Mar 2025derived |
| Interest expense | 41.4 k | 2.8 m | 1.6 m | 1.4 m | 267.5 k | 13.7 k | SEC (XBRL)· 31 Mar 2026verified |
| Pre-tax income | -5.8 m | -3.6 m | -1.6 m | 6.1 m | -11.1 m | -3.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Income tax | 10.0 k | 23.0 k | 18.0 k | 473.2 k | -289.2 k | 70.1 k | SEC (XBRL)· 31 Mar 2026verified |
| Net income | -5.8 m | -3.6 m | -1.6 m | 5.7 m | -10.8 m | -3.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | — | — | -0.02 | 0.06 | -0.57 | -0.16 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | — | — | 90.0 m | 97.5 m | 19.1 m | 19.3 m | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 591.0 k | 1.4 m | 1.5 m | 20.9 m | 3.5 m | 2.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Receivables | 1.1 m | 1.0 m | 2.8 m | 3.1 m | 1.8 m | 2.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Inventories | 560.1 k | 1.1 m | 991.1 k | 795.2 k | 621.8 k | 448.1 k | SEC (XBRL)· 31 Mar 2026verified |
| Current assets | 2.4 m | 3.8 m | 5.5 m | 25.0 m | 6.1 m | 5.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Property, plant & equipment, net | 1.9 m | 1.8 m | 1.8 m | 1.6 m | 2.4 m | 2.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Intangibles (excl. goodwill) | 2.3 m | 2.1 m | 1.9 m | 1.7 m | 1.5 m | 1.3 m | SEC (XBRL)· 13 Aug 2026verified |
| Total assets | 7.4 m | 8.1 m | 9.3 m | 28.3 m | 10.3 m | 9.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | — | — | — | 1.6 m | 1.1 m | 2.6 m | SEC (XBRL)· 31 Mar 2026verified |
| Current liabilities | 3.4 m | 15.5 m | 3.2 m | 2.2 m | 8.8 m | 10.7 m | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 20.6 m | 18.4 m | 16.8 m | 28.3 m | 9.1 m | 11.0 m | SEC (XBRL)· 31 Mar 2026verified |
| Equity | -13.2 m † | -10.2 m † | -7.4 m † | 60.4 k † | 1.2 m † | -1.7 m † | SEC (XBRL)· 31 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -1.2 m | -206.0 k | 71.0 k | 19.2 m | -4.1 m | -700.1 k | SEC (XBRL)· 31 Mar 2026verified |
| Capex | 0 | 11.0 k | 10.7 k | 0 | 809.4 k | 29.3 k | SEC (XBRL)· 31 Mar 2026verified |
| Free cash flow | -1.2 m ≈ | -217.0 k ≈ | 60.3 k ≈ | 19.2 m ≈ | -4.9 m ≈ | -729.4 k ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Investing cash flow | 42.5 k | -11.0 k | -10.7 k | 0 | -809.4 k | -29.3 k | SEC (XBRL)· 31 Mar 2026verified |
| Financing cash flow | 288.3 k | 602.3 k | 55.7 k | 209.5 k | -12.6 m | -481.3 k | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 33.3% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 28.9 m USD
Key indicators
Coverage and freshness
Score by group
33% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -21.7% | 25 (vs peers) | 19% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -6.6% | 0 (on a fixed band) | 25% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -240.4x | 0 (on a fixed band) | 19% |
| Current ratio · Balance sheet | 1.4x | 52 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -13.3% | 0 (on a fixed band) | 25% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet21/100 · 2/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial25/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BIRCHTECH CORP. (BCHT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 17.6 m USD in 2025; YoY growth 1.3%; net margin -21.7%; ROE -134.4%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 33.3% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -21.7%
- Revenue CAGR 3Y: -6.6%
- Interest coverage: -240.4x
- FCF yield: -13.3%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Measuring & Controlling Devices, NEC (SIC 3829) · same industry (4-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TMOThermo Fisher Scientific Inc. | 261.6 bn | 37.3 | 13.4% | 14.9% | +3.9% | +20% / +42% |
| ROKRockwell Automation, Inc. | 49.3 bn | 41.6 | 34.5% | 13.4% | +0.9% | +12% / +61% |
| TRMBTrimble Inc. | 12.4 bn | — | -2.9% | -4.1% | −2.6% | −33% / +17% |
| ONTOOnto Innovation Inc. | 9.1 bn | 69.4 | 6.8% | 11.8% | unavailable | +29% / +31% |
| MIRMirion Technologies, Inc. | 336.9 m | 159.4 | 1.6% | 2.7% | +7.5% | −31% / +101% |
| OWLTOwlet, Inc. | 132.4 m | — | — | -7.7% | +35.4% | −66% / −10% |
| GEOSGeospace Technologies Corp | 51.0 m | — | -34.4% | -43.1% | −18.3% | −70% / −67% |
| BCHTBirchtech Corp. | 28.9 m | — | -134.4% | -21.7% | +1.3% | −70% / −48% |
| QSIQuantum-Si Incorporated | — | — | -49.1% | -6,138.3% | −20.3% | −9% / −20% |
| NIKINiki BioSolutions, Inc. | — | — | -6.2% | — | −66.7% | −87% / −90% |
1- and 3-year price returns: for BCHT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Birchtech Corp. develops specialty activated carbon technologies for air purification, mainly capturing mercury from coal-fired power plants, and is expanding into drinking-water treatment against PFAS. The company guided to revenues of at least 23 mn USD for 2025 and management expects an air-business run-rate of at least 40 mn USD by the end of 2026 3.
SWOT
Strengths
- The SEA technology is patented and supported by a favourable jury verdict against a group of defendants, which strengthens its bargaining position 13.
- The company has customers under contract and a plan to convert infringers into supply-chain customers or licensees 13.
- Its Design Centers offer integrated thermal reactivation capability that the source describes as rare in North America 1.
Weaknesses
- Revenue is highly concentrated, with a few customers and suppliers accounting for large shares of sales and purchases 1.
- The business depends on a narrow product range and a single core segment, which amplifies industry-wide shocks 1.
- The company relies on a small number of key employees, and losing several could disrupt operations 1.
Opportunities
Threats
Risks
- Dependence on coal-fired power plantshigh
Demand depends on coal consumption by North American power plants, and their closure could directly reduce revenue 1.
- Collection of the judgmenthigh
The judgment in the company's favour is under appeal and no bonded stay has been obtained, so the amount and timing of any recovery remain uncertain 1.
- Patent challengesmedium
Inter partes review proceedings could narrow or invalidate some claims, impairing the company's ability to enforce its patents 1.
- Customer and supplier concentrationmedium
Loss of a key customer or supplier could affect results, and customer financial difficulties could delay payments 1.
- Development of water technologymedium
New water technologies may not be commercialised or produce significant revenue, and the planned reactivation facility depends on acceptable terms 1.
Investment thesis
What would need to be true (bull case)
- If the transition in the air business holds, revenue could grow quickly, supported by existing contracts and new licences 3.
- If demonstrations with municipal utilities convert into contracts, the water segment could become a second growth source 12.
- A favourable judgment, if collected, could bring significant resources without proportional operating costs 1.
What would break the thesis
- If mercury rules remain relaxed, demand from coal-fired plants could fall further than estimated 1.
- If the appeal modifies the judgment or collection is delayed, additional revenue could be postponed or reduced 1.
- If larger competitors expand their water offerings, the company could lose share before establishing itself commercially 1.
What to watch
- Air-business revenue against the at-least 23 mn USD guidance for 20252025 annual report
- Appellate decision in the case against the CERT defendants and any collection of the judgment2026
- Acquisition and construction of the GAC reactivation facility planned for 20262026
- Number of coal-plant customers under active contract and new contracts or licences signedQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Birchtech Corp. (ticker BCHT) is a provider of specialty activated carbon technologies for air and water purification 1. Its main segment offers patented SEA-based solutions for capturing mercury from coal-fired power plants in the United States and Canada 1. The company is also building a drinking-water line focused on thermal reactivation of spent activated carbon, with two Design Centers in Pennsylvania and North Dakota 12.
Segments
Mercury emissions (air business)
This is the current revenue-generating segment, selling sorbents and services to coal-fired plants, supported by patent enforcement and licensing of infringers using the SEA process 13. As of December 31, 2025, 16 U.S. EGUs were using SEA products bought from the company 1.
Drinking-water treatment
This newer line targets municipal and industrial utilities with reactivated activated carbon and testing services, and is still in development 12. In January 2026 the company announced demonstrations with regulated utilities that indicated comparable PFAS removal to virgin carbon under the conditions tested 1.
SEA-IX nuclear-grade ion exchange resins
The company recently launched a resin line for nuclear power plant water systems, also suited to coal plants, industrial wastewater and municipal facilities 1.
Market context
The U.S. mercury removal market has been driven largely by federal MATS rules, which were partly repealed in 2026 1. The count of remaining coal-fired EGUs fell to about 400 at the end of 2025, from about 1,250 when MATS was introduced 1. Water demand is supported by PFAS rules, but the EPA has extended some deadlines, while the company argues demand for improved water treatment is broad beyond regulation 12.
Trends
- Mercury rule rollbackheadwind
Repeal of the 2024 MATS amendments returns obligations to the 2012 standard, which could slow sorbent adoption at existing plants 1. The company notes that exemptions granted to some customer plants are temporary and current obligations remain in force 1.
- Shrinking coal-plant fleetheadwind
Many coal plants have shut down due to regulation and competition from gas and renewables, reducing the pool of potential customers 1. The company says this trend has already affected its results 1.
- PFAS drinking-water rulesmixed
The federal PFAS standard could create demand for carbon reactivation and water treatment if enforcement holds for the targeted contaminants, though the EPA has signalled a later deadline for PFOA and PFOS 12.
- Water infrastructure fundingtailwind
The company states the water market could benefit from public funding and pressure on compliance costs, though these conditions remain uncertain 1.
Competitive position
The company competes with activated carbon and sorbent producers that have larger sales forces and greater financial resources, in both mercury capture and water treatment 1. Competitors named in the source include Arq, Norit, Calgon Carbon and Nalco Water, part of Ecolab 1. The company argues its edge comes from patented technology and its technical team rather than scale 1.
- Arq, Inc. (formerly Advanced Emissions Solutions)
Major competitor in mercury capture and water treatment, named in the risk factors 1.
- Norit Activated Carbon
Activated carbon producer competing in both of the company's markets 1.
- Calgon Carbon Corporation
Larger player in water treatment and activated carbon, named as a direct rival 1.
- Nalco Company LLC (Nalco Water, an Ecolab company)
Water treatment competitor with a broader commercial footprint than the company 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report13 Aug 2026
- Current report28 Jul 2026Item 3.03 · Amendments to articles or bylaws · Shareholder vote · Financial statements and exhibits
- Proxy statement24 Jun 2026
- Quarterly report13 May 2026
- Current report (amendment)12 May 2026Departure or appointment of officers · Financial statements and exhibits
- Current report06 May 2026Departure or appointment of officers · Financial statements and exhibits
- Current report13 Apr 2026Item 5.08 · Other events · Financial statements and exhibits
- Annual report31 Mar 2026
- Current report17 Mar 2026Other events · Financial statements and exhibits
- Current report27 Feb 2026Material agreement · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Birchtech Corp. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Birchtech Corp. · 13 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Birchtech Corp. · 04 Mar 2025
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.