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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 170,416,955
Close 2021-10-18 C$ 4.94
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PyroGenesis wins $1.15M contract from Canadian gov't

2021-10-19 14:45 ET - News Release

Mr. Peter Pascali reports

PYROGENESIS SECURES $1.15 MM PHASE 2 CONTRACT AWARD FROM INNOVATIVE SOLUTIONS CANADA TO DEVELOP A HYBRID CERAMIC POWDER PROCESSING SYSTEM

PyroGenesis Canada Inc. has been awarded an Innovative Solutions Canada (ISC) phase 2 (prototype development) contract of approximately $1.15-million to develop a unique hybrid ceramic powder (HCP) processing system for the National Research Council Canada, Canada's largest federal research and development organization.

Carbon nanotubes hold significant potential for mechanical reinforcement in composite materials, including ceramic composites. However, the bundling of the carbon nanotubes has prevented this potential from being realized. PyroGenesis's system utilizes a thermal plasma process to simultaneously synthesize carbon nanotubes and deposit them on a ceramic powder within a single plasma reactor. PyroGenesis is in the process of building an integrated and automated system to produce high-quality ceramic powder products in a safe, economical and highly scalable manner. PyroGenesis would first optimize the process, then finalize the design and manufacturing of the system. The phase 2 project follows a successful phase 1 proof of concept.

"The main competitive advantage of our solution is the ability to process ceramic powder in the same reactor as the carbon nanotube synthesis, allowing for production in a single step," said Pierre Carabin, chief technology officer and chief strategist of PyroGenesis. "We believe this process will prove far more efficient and scalable than conventional technologies, such as the chemical vapour deposition process. Additionally, we believe that our technology is capable of processing a variety of composite materials, which could lead to the development of new IP [intellectual property] and product lines for other specialty powder production technologies."

"This phase 2 award reflects our commitment to developing innovative technology solutions," said P. Peter Pascali, chief executive officer and chairman of PyroGenesis. "The success of this innovative process would allow us to further expand our capabilities in carbon nanotube and specialty powder production. In addition to its commercial potential, this process provides numerous environmental benefits. For instance, the main source of energy to drive the plasma torch will be renewable hydroelectric power. We are extremely proud to have been chosen by the government of Canada for this award and believe our selection aligns with the goals of this program by supporting technological innovation and fostering economic development."

About PyroGenesis Canada Inc.

PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions that 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, as well as 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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