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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 167,384,455
Close 2021-09-08 C$ 5.18
Recent Sedar Documents

PyroGenesis receives $630,000 in government financing

2021-09-08 16:32 ET - News Release

Also News Release (C-HPQ) HPQ-Silicon Resources Inc

Mr. Peter Pascali of PyroGenesis reports

PYROGENESIS CONFIRMS SECURING ADDITIONAL GOVERNMENT FUNDING OF $630,000 TO DEVELOP NOVEL PRODUCTION PROCESS TO TRANSFORM QUARTZ INTO FUMED SILICA

Further to its press releases dated May 27 and July 6, 2021, PyroGenesis Canada Inc. has now received $630,000 in additional financing from a second government agency for a total project value of approximately $5.3-million (including sale of IP of $3.3-million), all to be received by the company.

As previously disclosed, PyroGenesis, in partnership with HPQ Silica Polvere Inc., a wholly owned subsidiary of HPQ-Silicon Resources Inc., has been tasked to design, develop and manufacture downstream business opportunities by converting quartz to fumed silica, using a novel one-step plasma-based reactor. This process is designed to enable the reduction of hazardous waste and greenhouse gas (GHG) emissions when compared with legacy processes. Under the partnership agreement, PyroGenesis also benefits from (i) a 10-per-cent royalty on HPQ Polvere's future sales (with set minimums never to exceed 100 per cent of revenues), and (ii) the option to convert this royalty at any time into a 50 per cent ownership in HPQ Polvere.

Fumed silica is a white microstructure powder with high surface area and low bulk density. Its commercial applications have applicability in many industries including, but not limited to, personal care, pharmaceuticals, agriculture (food and feed), adhesives, sealants, construction, batteries and automotive. The demand for fumed silica is growing at a 5.5-per-cent compound annual growth rate, with a global addressable market of $1.6-million (U.S.) in 2020, which is expected to grow to $2.3-billion (U.S.) in 2027.

"We are pleased to receive this final tranche of funding from a second government agency which further solidifies and validates the importance of this project to various government agencies. This process, if successful, will create an alternative solution that would eliminate the toxic byproducts of legacy systems while reducing GHG emissions by approximately 90 per cent," said Peter Pascali, chief executive officer and chair of PyroGenesis. "Work has already begun and we look forward to providing additional updates on our progress."

About HPQ-Silicon Resources Inc.

HPQ Silicon Resources is a Canadian producer of innovative silicon solutions, based in Montreal, building a portfolio of unique high-value specialty silicon products. Working with PyroGenesis, HPQ is developing:

  • The PureVAP quartz reduction reactors (QRR), an innovative process (patent-pending) which will permit the one-step transformation of quartz (SiO2) into high-purity silicon at reduced costs, energy input and carbon footprint that will propagate its considerable renewable energy potential.
  • The PureVAP nano silicon reactor (NSiR), a new proprietary process that can use different purities of silicon as feedstock, to make spherical silicon nano powders and nanowires; HPQ is also working with industry leader Apollon Solar of France to use its patented process and develop a capability to produce commercially porous silicon wafers and porous silicon powders.
  • A new plasma-based process that will allow a direct conversion of quartz into fumed silica, therefore removing the usage of hazardous chemical in the production of fumed silica and eliminating the hydrogen chloride gas (HCI) associated with its manufacturing.

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-tech company, is a 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 (International Organization for Standardization) 9001:2015 and AS9100D certified, having been ISO certified since 1997.

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