Mr. Peter Pascali reports

PYROGENESIS SIGNS CONTRACT TOWARD THE USE OF PLASMA IN THE TREATMENT OF LOW-LEVEL RADIOACTIVE WASTE

PyroGenesis Inc. has signed an initial design phase contract with a European organization specializing in radioactive waste processing and nuclear decommissioning.

As previously reported in the outlook section of PyroGenesis's second quarter earnings report, PyroGenesis was in negotiations with a major European entity for the use of plasma in the destruction of low-level radioactive waste. The contract announced today is for a design phase contract toward the development of a plasma furnace that can be utilized in the customer's radioactive material treatment process.

The customer has decades of experience in the decommissioning of nuclear facilities and the safe treatment and storage of radioactive materials. The customer's name is being withheld for competitive and confidentiality reasons.

Project highlights

Purpose:  to define the technical specifications, sizing and design parameters, for a subsequent engineering and build phase, for a plasma-equipped furnace and the related peripheral components required as part of the potential construction of a radioactive waste vitrification and treatment plant in Europe

Scope:  engineering study, simulations and design, for evaluation of a plasma torch furnace in comparison with an electric arc furnace

Timeline:  approximately four months

Strategic impact:  with nuclear capacity in the European Union expected to grow, the amount of low- and very-low level radioactive waste (which combined represent approximately 90 per cent of all stored radioactive waste in the EU) is expected to increase, mandating the development of additional safe and effective treatment processes such as plasma-powered furnace systems

"With the renewed emphasis on nuclear power around the world, the need for systems that can safely process and treat low-level radioactive waste should continue to grow," said Peter Pascali, president and chief executive officer of PyroGenesis. "All-electric plasma furnaces designed and built by PyroGenesis represent a potential opportunity for low carbon, incineration-free solutions that can reduce the burden on landfills and other types of radioactive handling options."

Low-level radioactive waste (LLW) includes items that are contaminated by contact with radioactive products, systems or processes, but that are not radioactive themselves. These can include common items such as tools, gloves, paper and rags, as well as some parts and components used within nuclear facilities. Very low-level waste (VLLW) also includes concrete, plaster, rubble, soil and scrap metal such as pipes, and larger components such as steam generators, that have been in contact with radioactive products.

Industry and market context

• The European Union (EU) depends on nuclear power for approximately 24 per cent of its electricity;
• The EU has approximately 100 nuclear reactors in 12 countries;
• Nuclear installed capacity across the EU is projected to grow from 98 GWe (gigawatt electric, the measurable net output of electrical power delivered to the grid) in 2025 to approximately 109 GWe by 2050;
• Data for the entire EU shows that low-level waste (LLW) makes up approximately 61 per cent of the stored volume of radioactive waste, while very low-level waste (VLLW) makes up approximately 30 per cent.

About PyroGenesis Inc.

PyroGenesis leverages 34 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions and materials development challenges across heavy industry and defence. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis's engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultrahigh temperature technology. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (PYR), OTCQX (PYRGF) and Frankfurt (8PY1) stock exchanges.

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