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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 170,140,795
Close 2022-02-07 C$ 3.41
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PyroGenesis completes factory acceptance test

2022-02-08 15:44 ET - News Release

Mr. P. Peter Pascali reports

PYROGENESIS ANNOUNCES SUCCESSFUL COMPLETION OF ITS TORCH FACTORY ACCEPTANCE TEST WITH CLIENT A; A MULTI-BILLION-DOLLAR INTERNATIONAL PRODUCER OF IRON ORE PELLETS

Further to its press release dated Jan. 27, 2022, PyroGenesis Canada Inc. has completed the factory acceptance test (FAT) of its one-megawatt plasma torch, for the iron ore pelletization industry, with Client A. This successful FAT was conducted at PyroGenesis's manufacturing facility in Montreal in the presence of the client.

With the FAT process now successfully completed, and officially approved by Client A, the plasma torch system will now be shipped to the client's facility before the end of Q1 2022. PyroGenesis expects the plasma torch to arrive on or about the end of Q2 2022. The torch will then be installed in Client A's induration furnace, replacing the dirty fossil fuel burner currently in place. The installation should take approximately three to four weeks, after which a site acceptance test (SAT) will be performed. The SAT is scheduled to be completed before the end of July, 2022. Both the installation and the SAT will be conducted by Client A and supervised by PyroGenesis personnel. Between the arrival of PyroGenesis's proprietary one MW plasma torch at the client's site and the SAT, there will be a number of tasks that will need to be completed (such as the training of local personnel by PyroGenesis staff).

"The long-awaited FAT has finally been completed, and we are proud to announce today that we have successfully passed this important milestone. The torch will now be shipped to the client's facility where it will be installed, and where the SAT is scheduled to be performed before the end of July, 2022. This important milestone brings us that much closer to our ultimate goal of providing clean plasma torches to the iron ore pelletization industry in their quest to replace dirty fossil fuel burners," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "Successful completion of this FAT marks a significant milestone, not only for PyroGenesis and its clients, but also for all those involved in high-temperature applications, specifically in the steel industry where we seem to be making our mark. We expect the next six months to be extremely exciting for everyone involved as all parties finally see that the goal line is in sight."

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 (International Organization for Standardization) 9001:2015 and AS9100D certified, having been ISO certified since 1997.

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