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PyroGenesis Canada Inc
Symbol PYR
Shares Issued 171,325,795
Close 2022-09-20 C$ 1.90
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PyroGenesis client completes powder production audit

2022-09-21 11:06 ET - News Release

Mr. Peter Pascali reports

PYROGENESIS ANNOUNCES COMPLETION OF IN-HOUSE AUDIT OF ITS NEXGENTM METAL POWDER PRODUCTION FACILITY BY GLOBAL AEROSPACE COMPANY

Further to its press releases dated Aug. 31, 2022, and July 18, 2022, the in-person powder production audit at PyroGenesis Canada Inc.'s metal powder production facility in Montreal has been completed by a Tier 1 global aerospace company (the client).

"We are extremely pleased with the results of the on-site audit, which offered us an opportunity to showcase our facility, our staff and our groundbreaking process to a leading provider in design, engineering and manufacturing of aircraft, aerospace technology and defence solutions," said P. Peter Pascali, chief executive officer and chair of PyroGenesis. "The findings and recommendations suggested to us by the client were thoughtful, valuable and easily implemented. As you might expect the scrutiny was of the highest degree, and I wish to thank the entire team, who over many years, have contributed to this success. Once again, the philosophy that slow is smooth and smooth is fast is bearing fruit for both the company and its investors."

As mentioned in prior news releases, this on-site facility and production audit is a significant step for the company as part of the final phase of the client's qualification process, which has spanned over 18 months of investigative rigour toward becoming an approved supplier of metal powders to the client and its suppliers. With this step completed, the company is making requested modifications and adjustments in order to proceed with delivery of final samples of titanium powder for chemical and mechanical testing by the client.

"From the outset, we wanted to validate our product and our system with the best, under the hardest and the most difficult standards. We are proud to state that all of the client's findings are addressable and aligned with our expectations prior to the audit," said Massimo Dattilo, vice-president, PyroGenesis Additive. "As we have stated in the past, given our unique manufacturing process that exponentially improves upon the world's leading existing metal powder production process -- which we invented -- using high-temperature plasma atomization, we expect to be in a position to capture a significant share of the global titanium powder market. Completing the modifications by the client's audit findings and moving to the final sample delivery stage with such a major global aerospace company is a huge step towards that goal. We continue to be on track for a Q4 2022/Q1 2023 target for final submission and approval."

The goal of PyroGenesis's additive division is to become a leading supplier of plasma atomized metal powders to end- users of additive manufacturing (AM) and 3-D printing, which include, but are not limited to, the aerospace, biomedical and automotive industries. The company believes that its NexGen metal powder production system, a single-step process that is unique in that it uses wire as a direct feedstock, will produce significant gains in production speed, particle size control and cost.

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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