PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR)
(NASDAQ: 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 (GHG), and address
environmental pollutants, is pleased to announce that, further to
its press release dated December 8th, 2021 wherein it was announced
that the Company had filed a patent for a new Zero Carbon Emission
(“ZCE”) hydrogen production process, it has successfully produced
hydrogen from methane using this revolutionary ZCE hydrogen
production technology. Methane is a greenhouse gas (“GHG”) with a
high global warming potential which is approximately 25 times worse
than carbon dioxide (CO2) in terms of its greenhouse effect1.
PyroGenesis’ plasma-based hydrogen production process converts this
methane into a valuable solid carbon and hydrogen, thereby creating
a ZCE hydrogen. The solid carbon is a byproduct that has many
industrial applications, including the production of car tires,
coatings, plastics, and batteries, and is considered an essential
raw material. The hydrogen generated by any methane process that is
driven by heat produced with electricity, rather than combustion of
fossil fuels, is typically referred to as “Turquoise
Hydrogen”.
“This is a tremendous achievement for
PyroGenesis, and another testament to our 25+ years of expertise in
plasma-based processes,” said Mr. Pierre Carabin, CTO and Chief
Strategist of PyroGenesis. “The conventional ZCE process, water
electrolysis, is extremely expensive, requires a lot of energy and
uses rare earth materials. As such, our announcement today is of
great significance to the industry as a whole, as it is a
significant step towards economically producing an environmentally
friendly hydrogen. The demand for hydrogen reached an
estimated 87 million metric tons (MT) in 2020 and is
expected to grow to 500–680 million MT by 2050.2 Hydrogen supply is
now a major business worldwide and we are on our way to positioning
PyroGenesis to play an important role in the movement towards a
sustainable and net-zero world. The next step is to convert this
bench test into a pilot unit which would demonstrate the
reliability, efficiency, and consistency of the hydrogen and solid
carbon produced.”
Today, industry is the primary user of hydrogen,
and is dominated by chemical, oil refining, ammonia production,
methanol production and steel production (e.g. direct reduction
iron). Today, about 10 million tons of hydrogen are already used in
Europe, mainly as raw material for ammonia production and in the
refining industry. However, about 95% of the hydrogen produced
today, called “Gray Hydrogen”, is produced by the conventional
method called "steam methane reforming", which generates high CO2
emissions, and as such has a negative impact on the climate.
Regretfully, almost 10 kg of carbon dioxide is released into the
atmosphere for every 1 kg of Gray Hydrogen produced.3
“Water Electrolysis has been around for many
years and is considered to be a ZCE technology as well,” said P.
Peter Pascali, CEO and Chair of PyroGenesis. “The hydrogen
generated from this process is generally referred to as “Green
Hydrogen”, however it is recognized to (i) be expensive, (ii)
require a lot of energy for its production, and (iii) uses rare
earth materials. PyroGenesis’ new technology is geared to combine
the best of both worlds; it is expected to be cheaper than most
existing hydrogen processes while at the same time producing ZCE
hydrogen.”
Given today’s results, PyroGenesis’ plasma-based
hydrogen production could become a solution/ alternative to the
carbon-intensive hydrogen production technologies currently being
used. If so, it could be instrumental in economically enabling the
chemical industry to decarbonize production of chemicals such as
ammonia or methanol. PyroGenesis’ process is expected to be cheaper
than most existing hydrogen processes while being one of the most
energy efficient technologies for producing ZCE hydrogen. For
clarity, the Company does not expect that this new process would
compete with PyroGenesis’ plasma torches, which are intended as a
replacement for polluting fossil fuel burners in industrial
furnaces across heavy industry. Rather, the Company believes that
this new hydrogen producing technology using plasma complements our
plasma torch offerings by providing an affordable ZCE option for
hydrogen required elsewhere in the manufacturing sector.
As previously mentioned, PyroGenesis has filed
an international application No. PCT/CA2021/000099 with WIPO (World
Intellectual Property Organization) entitled, “Hydrogen production
from hydrocarbons by plasma pyrolysis.” This PCT application covers
the Company’s process for producing hydrogen from methane and other
light hydrocarbons using thermal plasma without generating
GHGs.
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 Company'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 Company with respect to future events and are subject
to certain risks and uncertainties and other risks detailed from
time-to-time in the Company'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
Company 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, IR/Comms. and Strategic BD Phone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
_____________________________ 1
https://www.epa.gov/gmi/importance-methane2
https://blogs.worldbank.org/ppps/green-hydrogen-key-investment-energy-transition#:~:text=The%20demand%20for%20hydrogen%20reached,9.2%25%20per%20year%20through%202030.
3
https://www2.deloitte.com/fi/fi/pages/energy-and-resources/articles/the-potential-of-hydrogen-for-the-chemical-industry.html
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