PyroGenesis Announces $450K Contract for the Sale of a Plasma Torch/Furnace System for Advanced Green Cement Development
March 14 2024 - 6:00AM
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (OTCQX:
PYRGF) (FRA: 8PY), a high-tech company (the “Company” or
“PyroGenesis”) that designs, develops, manufactures and
commercializes advanced plasma processes and sustainable solutions
which are geared to reduce greenhouse gases (GHG) and address
environmental pollutants, is pleased to announce the signing of a
contract with a U.S. structural materials entity engaged in the
development of advanced cement materials. The first phase of the
contract is approximately CDN$450,000 with the potential for future
phases. Funded in part by the U.S. Department of Energy (“DOE”),
the name of the client will remain anonymous for confidentiality
reasons.
“The cement industry is one we have been
targeting, as it is one of the highest-emitting industrial sectors,
responsible for more than 8% of global CO2 emissions.i We believe
our greenhouse gas-free technologies are a perfect solution to help
the cement industry decarbonize by replacing fossil-fuel burners
with PyroGenesis’ electric plasma torches in various process steps,
effectively moving towards green cement. This first contract with
an expert in advanced structural cement development opens the door
to future projects in the cement industry”, said Mr. P. Peter
Pascali, CEO and President of PyroGenesis.
Under the terms of the contract, PyroGenesis
will design and build a system tailored for lab-scale cement
production applications. The system will include a plasma torch, a
refractory furnace, and the required gas, power, and cooling
components and peripherals. The system was contracted to provide
the client the type of increased power and heat levels required for
advanced cement development and testing, but without the fossil
fuels and resultant emissions a gas-fueled system would normally
generate. Subsequent phases may require a refractory lined reactor
and other systems for additional development.
PyroGenesis’ involvement in developing plasma
torches for use in high temperature applications is part of the
Company’s three-tiered solution ecosystem that aligns
with economic drivers that are key to global heavy industry. Plasma
torches, as a high and ultra-high temperature application, are part
of the Company’s Energy Transition and Emissions
Reduction tier, where fuel switching to the Company’s
electric-powered torches helps heavy industry reduce fossil fuel
use and lower greenhouse gas emissions.
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a proud 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.
Cautionary and Forward-Looking
Statements
This press release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of applicable
securities laws. In some cases, but not necessarily in all cases,
forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “targets”, “expects”
or “does not expect”, “is expected”, “an opportunity exists”, “is
positioned”, “estimates”, “intends”, “assumes”, “anticipates” or
“does not anticipate” or “believes”, or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might”, “will” or “will be taken”, “occur” or
“be achieved”. In addition, any statements that refer to
expectations, projections or other characterizations of future
events or circumstances contain forward-looking statements.
Forward-looking statements are not historical facts, nor guarantees
or assurances of future performance but instead represent
management’s current beliefs, expectations, estimates and
projections regarding future events and operating performance.
Forward-looking statements are necessarily based
on a number of opinions, assumptions and estimates that, while
considered reasonable by the Company as of the date of this
release, are subject to inherent uncertainties, risks and changes
in circumstances that may differ materially from those contemplated
by the forward-looking statements. Important factors that could
cause actual results to differ, possibly materially, from those
indicated by the forward-looking statements include, but are not
limited to, the risk factors identified under “Risk Factors” in the
Company’s latest annual information form, and in other periodic
filings that the Company has made and may make in the future with
the securities commissions or similar regulatory authorities, all
of which are available under the Company’s profile on SEDAR+ at
www.sedarplus.ca, or at www.sec.gov. These factors are not intended
to represent a complete list of the factors that could affect the
Company. However, such risk factors should be considered carefully.
There can be no assurance that such estimates and assumptions will
prove to be correct. You should not place undue reliance on
forward-looking statements, which speak only as of the date of this
release. The Company undertakes no obligation to publicly update or
revise any forward-looking statement, 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 OTCQX Best Market
accepts responsibility for the adequacy or accuracy of this press
release.
For further information please contact: Rodayna
Kafal, Vice President, IR/Comms. and Strategic BDPhone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
i “Concrete needs to lose its colossal carbon footprint”, by
Editorial, Nature, September 28, 2021:
https://www.nature.com/articles/d41586-021-02612-5
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