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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 170,125,795
Close 2022-05-24 C$ 2.70
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PyroGenesis to test plasma torches with client

2022-05-24 12:02 ET - News Release

Mr. P. Peter Pascali reports

PYROGENESIS ANNOUNCES PROJECT WITH LEADING FURNACE MANUFACTURER TO INCORPORATE PLASMA TORCHES IN ALUMINUM SCRAP REMELTING FURNACES

Further to its press release dated April 20, 2022, which provided an update on its aluminum business offerings, PyroGenesis Canada Inc. has undertaken a joint evaluation with a major manufacturer to test PyroGenesis's zero-emission plasma torches in the manufacturer's scrap remelting and holding furnaces for the aluminum industry. The name of the client remains anonymous for confidentiality reasons.

This agreement outlines, amongst other things, the first step being a computational fluid dynamics (CFD) study to gather pretest data and evaluate plasma for use in furnaces serving the secondary aluminum market (aluminum producers that remelt and resell scrap and recycled aluminum).

PyroGenesis has already received a purchase order for the CFD study, which is well under way, and additional next steps are already being planned.

The client is one of the largest manufacturers of industrial furnaces around the world, with an almost 100-year legacy, which supplies industrial furnaces and engineering/metallurgical solutions -- for virtually all process steps -- to the aluminum, steel and mining industries.

"This agreement underscores the applicability and timing of PyroGenesis's offerings within the aluminum industry, which, incidentally, has now expanded beyond just primary aluminum producers," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "This is particularly interesting given this agreement is, once again, with such a prominent manufacturer in the industry.

"Driven by: (i) rising aluminum demand and (ii) the fact that secondary scrap aluminum contributes to the overall aluminum supply at a much lower energy and emissions intensity (up to 95 per cent less carbon footprint compared to primary aluminum production from initial mined ore), more and more aluminum producers are taking steps to increase scrap metal in their product lines. The sector's low emissions claims and targets put significant pressure on ensuring that the process itself (to melt scrap and maintain molten heat) is done with as low a carbon footprint as possible. PyroGenesis's combustion-less and emissions free electric plasma torches are a rare technological solution that is immediately identifiable," continued Mr. Pascali. "As such, we look forward to announcing additional initiatives within this sector of the aluminum industry as negotiations currently taking place bear fruit."

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 that reduce greenhouse gases (GHGs) 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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