Mr. Peter Pascali reports

PYROGENESIS SIGNS $2.25 MILLION PLASMA TORCH CONTRACT FOR PFAS REMOVAL

PyroGenesis Canada Inc. has signed a contract valued at $1.65-million (U.S.) (approximately $2.25-million) from a United States corporation (the client), geared to destroy perfluoroalkyl and polyfluoroalkyl substances (PFAS) on behalf of a large operator of public water systems. The name of the client will remain anonymous for confidentiality reasons. This contract includes a 20 per cent upfront payment totalling approximately $380,000 (U.S.) (equivalent to approximately $516,800), which has been received.

PyroGenesis previously announced its involvement (press release dated Oct. 28, 2021) in this very same project before subsequently suspending and discontinuing discussions (press release dated Oct. 7, 2022) as, at the time, the project did not align with the minimum requirements of the company's global strategy. However, as a result of renewed interest from the project principles, and upon developing a different approach, the client re-engaged with PyroGenesis and, as such, PyroGenesis will now supply a plasma torch system as a key destruction component of the overall solution build.

"As disappointing as it was to suspend our participation in the previous iteration of this project, we are happy that discussions have since developed that enable us to showcase PyroGenesis's plasma torch capabilities when it comes to addressing the critical problems posed by PFAS. Of note, this is the second contract in recent weeks (totalling over $6-million), that will demonstrate the capabilities of PyroGenesis's ultrahigh-temperature plasma torch," said P. Peter Pascali, chief executive officer of PyroGenesis. "Slowly but surely, PyroGenesis's long-term approach to its various business segment is starting to bear fruit."

PFAS are a set of more than 9,000 man-made chemicals that have been widely used in consumer products in various industries, such as aerospace, automotive and construction, amongst others, for many decades. Research suggests exposure to some PFAS might result in harmful health outcomes, including cancer, increased cholesterol levels and immune system effects. Products that may contain PFAS include nonstick cookware, stain-resistant coatings used on carpets, upholstery and other fabrics, water resistant clothing, cleaning products, personal care and cosmetics products, and any other products that resist grease, water and oil. Because of their widespread use, and strong chemical bonds and properties, which account for their persistence in the environment, PFAS are proving to be persistent pollutants that affect humans and wildlife, as they are likely to be exposed to these chemicals by consuming contaminated water or food, using products made with PFAS, or breathing air containing PFAS.

The company's development of plasma torches for use in the safe destruction of hazardous chemicals such as PFAS is part of the company's three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches as a waste destruction application are part of the company's waste remediation tier, encompassing the safe destruction of hazardous materials, and the recovery and valorization of underlying substances such as chemicals and minerals.

About PyroGenesis Canada Inc.

PyroGenesis, a high-technology company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions, which reduce greenhouse gases and are economically attractive alternatives to conventional dirty processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion-dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800-square-metre and 2,940-square-metre manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997.

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