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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 171,325,795
Close 2022-09-13 C$ 1.96
Recent Sedar Documents

PyroGenesis wins Sparc supply deal

2022-09-13 10:16 ET - News Release

Mr. P. Peter Pascali reports

PYROGENESIS SELECTED BY ADVANCED MATERIALS AND CHEMICALS TRADING HOUSE TO SUPPLY SPARC LAND-BASED WASTE DESTRUCTION SYSTEM

PyroGenesis Canada Inc. has been chosen by an advanced materials and chemicals trading house in the southern hemisphere to provide the company's Sparc refrigerant waste destruction system. The client's name will remain confidential for competitive reasons. The system is the first of two systems that the company has indicated it may require. With engineering services, ancillary equipment options and after-sales support, the ultimate project cost will be between $2-million (U.S.) to $5-million (U.S.) per system depending on final decisions regarding full deliverables, and the final agreement is expected to be signed before the end of Q2 2023.

"The Sparc technology is one of the company's first major technology achievements, which I believe speaks to our foresight and our continued R&D [research and development], that a legacy system such as this can be used to address recent trends we are all seeing, evidenced by the increased demand for environmentally friendly waste destruction systems -- especially those geared to the destruction of dangerous or polluting chemicals and gases," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "Jurisdictions worldwide are tightening regulations surrounding hazardous waste disposal while at the same time trying to stimulate the safe destruction of hydrocarbons such as refrigerant chlorofluorocarbons (CFCs) by providing carbon credits to offset costs. This announcement today underscores the fact that companies are increasingly recognizing the major role that PyroGenesis's fossil-free waste destruction systems can play in this movement. Land-based systems such as our Sparc build upon the foundation of success we have established previously with our ship-board waste destruction systems for the U.S. Navy's Gerald R. Ford-class aircraft carriers."

As part of a greenfield project, where the client has purchased land and is building a new facility, it is anticipated that PyroGenesis will be designing and building the Sparc refrigerant waste destruction system while supervising and supporting contractors in the installation of the facility. The project has an approximate production-to-delivery timeline of 18 months from final contract signing.

The client is a major supplier of chemicals and advanced materials throughout the southern hemisphere. With a half century of experience in logistics, storage and handling of materials across a range of applications and industries, the client -- like PyroGenesis -- maintains an ISO 9001 designation in support of its numerous global partnerships.

PyroGenesis's patented Sparc system is based on the technology platform originally developed by the company for the U.S. Navy and a U.S. Air Force base. It uses inexpensive steam as the plasma-forming gas to generate a hydrolysis reaction that destroys refrigerants, leading directly to significantly reduced operating costs (versus more expensive gases) and cleaner operations with no incineration. Powered by electricity, use of the Sparc system substantially reduces carbon footprint, while eliminating ozone-depleting substances. It also destroys other chemicals such as CFCs, HCFCs (hydrochlorofluorocarbons), HFCs (hydrofluorocarbons), halons and PFCs (perfluorochemicals).

About PyroGenesis Canada Inc.

PyroGenesis Canada, a high-technology 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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