PyroGenesis Canada Inc. (http://pyrogenesis.com) (NASDAQ: PYR)
(TSX: PYR) (FRA: 8PY), a high-tech Company (hereinafter referred to
as the “Company” or “PyroGenesis”), that designs, develops,
manufactures and commercializes advanced plasma processes and
sustainable solutions to reduce greenhouse gases, today is pleased
to confirm that, further to its press releases dated May 27th and
July 6th, 2021, it has now received $630,000 in additional funding
from a second government agency, for a total project value of
approximately $5.3MM (including sale of IP of $3.3MM), all to be
received by the Company.
As previously disclosed, PyroGenesis, in
partnership with HPQ Silica Polvere Inc. (“HPQ Polvere”) a wholly
owned subsidiary of HPQ Silicon Resources Inc. (“HPQ”), has been
tasked to design, develop and manufacture downstream business
opportunities by converting quartz to fumed silica, using a novel
one-step plasma-based reactor. This process is designed to enable
the reduction of hazardous waste and greenhouse gas (“GHG”)
emissions when compared to legacy processes. Under the partnership
agreement, PyroGenesis also benefits from (i) a 10% royalty
(“Royalty”) on HPQ Polvere’s future sales (with set minimums never
to exceed 100% of revenues), and (ii) the option to convert this
Royalty at any time into a 50% ownership in HPQ Polvere.
Fumed silica is a white microstructure powder
with high surface area and low bulk density. Its commercial
applications have applicability in many industries including, but
not limited to, personal care, pharmaceuticals, agriculture (food
& feed), adhesives, sealants, construction, batteries and
automotive. The demand for fumed silica is growing at 5.5% CAGR,
with a global addressable market of US$ 1.6 million in 2020 which
is expected to grow to US$ 2.3 billion in 20271.
“We are pleased to receive this final tranche of
funding from a second government agency which further solidifies
and validates the importance of this project to various government
agencies. This process, if successful, will create an alternative
solution that would eliminate the toxic by-products of legacy
systems while reducing GHG emissions by approximately 90%,” said M.
P. Peter Pascali, CEO and Chair of PyroGenesis. “Work has already
begun, and we look forward to providing additional updates on our
progress.”
About HPQ Silicon
HPQ Silicon Resources Inc. (TSX-V: HPQ)
(OTCQX: HPQFF) (FWB: UGE), is a Canadian producer of
Innovative Silicon Solutions, based in Montreal, building a
portfolio of unique high value specialty silicon products. Working
with PyroGenesis, HPQ is developing:
- The PUREVAP™
“Quartz Reduction Reactors” (QRR), an innovative process (patent
pending), which will permit the one step transformation of quartz
(SiO2) into high purity silicon (Si) at reduced costs, energy
input, and carbon footprint that will propagate its considerable
renewable energy potential.
- The PUREVAP™
Nano Silicon Reactor (NSiR), a new proprietary process that can use
different purities of silicon (Si) as feedstock, to make spherical
Silicon Nano powders and nanowires; HPQ is also working with
industry leader Apollon Solar of France to use their patented
process and develop a capability to produce commercially porous
silicon (Si) wafers and porous silicon (Si) powders.
- A new
plasma-based process that will allow a direct conversion of Quartz
into Fumed silica, therefore removing the usage of hazardous
chemical in the production of Fumed silica and eliminating the
Hydrogen Chloride Gas (HCI) associated with its manufacturing.
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., 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 m2
and 2,940 m2 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. For more information, please visit: www.pyrogenesis.com.
This press release contains certain
forward-looking statements, including, without limitation,
statements containing the words "may", "plan", "will", "estimate",
"continue", "anticipate", "intend", "expect", "in the process" and
other similar expressions which constitute "forward- looking
information" within the meaning of applicable securities laws.
Forward-looking statements reflect the Corporation's current
expectation and assumptions and are subject to a number of risks
and uncertainties that could cause actual results to differ
materially from those anticipated. These forward-looking statements
involve risks and uncertainties including, but not limited to, our
expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current
views of the Corporation with respect to future events and are
subject to certain risks and uncertainties and other risks detailed
from time-to-time in the Corporation's ongoing filings with the
securities regulatory authorities, which filings can be found at
www.sedar.com, or at www.sec.gov. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Corporation undertakes no obligation to publicly update or revise
any forward- looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Neither the Toronto Stock Exchange, its
Regulation Services Provider (as that term is defined in the
policies of the Toronto Stock Exchange) nor the NASDAQ Stock
Market, LLC accepts responsibility for the adequacy or accuracy of
this press release.
SOURCE PyroGenesis Canada Inc.
For further information please contact:Rodayna
Kafal, Vice President Investors Relations and Strategic Business
DevelopmentPhone: (514) 937-0002, E-mail: ir@pyrogenesis.comRELATED
LINK: http://www.pyrogenesis.com/
______________________1 Fumed Silica Market
Size, By Product (Hydrophilic, Hydrophobic), By Application
(Pharmaceutical, Beauty & Personal Care, Silicone Elastomers,
Paints, Coatings & Inks, UPR, Adhesives & Sealants, Food
& Beverages), Industry Analysis Report, Regional Outlook,
Growth Potential, Price Trends, Competitive Market Share &
Forecast, 2021 – 2027, Published Date: Mar 2021, Report
ID: GMI4388 | Authors: Kiran Pulidindi, Akshay
Prakash
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