Ostend, Belgium and Vancouver, Canada — February 17, 2026 — LDCwood and BPWood today signed a Letter of Intent (LOI) under which BPWood would acquire a minority equity interest in LDCwood.

The proposed investment represents an important step in further strengthening the ThermoWood® partnership established between the two companies in 2022. By combining LDCwood’s advanced production technology with BPWood’s established market position in North America, the companies aim to accelerate the growth and adoption of ThermoWood® across the region.

“Signing the Letter of Intent marks a new phase in our international growth. This LOI reflects our long-term vision to anchor ThermoWood® as a reference product in North America. Since 2022, our teams have been working closely and complementarily together, both commercially and technically,” confirms Mike Lemahieu, Managing Director of LDCwood.

Both LDCwood and BPWood are members of the International ThermoWood® Association (ITWA) (www.thermowood.fi). This membership underlines their shared commitment to promoting ITWA’s patented, third-party audited production system for thermally modified wood worldwide and to firmly establishing this science-based gold standard within the North American construction sector.

Completion of the transaction remains subject to customary due diligence and the negotiation and execution of definitive agreements.