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PyroGenesis Canada Inc
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Close 2022-02-04 C$ 3.33
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PyroGenesis signs $273,000 plasma torch contract

2022-02-07 15:23 ET - News Release

Mr. Peter Pascali reports


PyroGenesis Canada Inc. has signed a $273,000 plasma torch contract with a European research centre, whose name and origin will remain anonymous for confidentiality and competitive reasons.

The contract, valued at 189,000 euros, or approximately $273,000, is for PyroGenesis to manufacture and deliver a 50-kilowatt methane plasma torch, which will be used by the client to develop a process to convert hydrocarbons, including methane (a greenhouse gas (GHG)), into useful chemicals such as olefins (such as ethylene, propylene), thereby significantly reducing GHGs.

Olefins are widely used as base materials for many products, including plastics, detergents and adhesives. Ethylene (C2H4), an olefinic chemical, is the largest-volume organic chemical produced globally and a basic building block for the chemistry industry. The majority of ethylene and propylene are produced from crude oil, which consumes enormous amounts of energy, and generates large amounts of carbon dioxide. It is therefore crucial and urgent to replace the traditionally difficult, expensive and inefficient processes that add GHGs to the atmosphere.

"This contract, although small, once again underscores our plasma torch expertise and the significant benefits of PyroGenesis's offerings which specifically reduce GHGs, and reinforces our ability to offer unique, versatile and meaningful solutions that expand the addressable market opportunities for the company," said P. Peter Pascali, chief executive officer and president of PyroGenesis. "This latest agreement not only supports our overall strategy to become a leading provider of greenhouse gas reduction processes, but once again plants the seeds in a growing and untapped market. We could not be prouder of the fact that our plasma torches are consistently being selected by cutting-edge entities around the world. We look forward to expanding these relationships as a key element of our growth strategy."

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 (GHG), 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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