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 which are geared to reduce greenhouse gases
(GHG), is pleased to announce today that, further to its press
release dated September 27th, 2021, it has created a new division,
PyroGenesis Aluminum (PyroGenesis-Al) dedicated exclusively to
PyroGenesis’ environmental offerings to the aluminum industry.
PyroGenesis’ Aluminum portfolio will include
five main offerings: (i) Drosrite™ sales and tolling services; (ii)
valorization of downstream dross residues; (iii) upstream
applications; (iv) PyroGenesis’ high powered plasma torches geared
to replacing fossil fuel burners and (v) repurposing of spent pot
lining residues recovery. The combination of these offerings is
designed to position PyroGenesis Aluminum as a unique one-stop shop
for zero landfill / reduced carbon service solutions, which cater
to the Aluminum industry.
“Following our successful Joint Venture
agreement, with a leading residue processor to transform aluminum
dross residues into high value chemical products, and the recent
success of our yet-to-be-announced upstream applications, we
decided to form a division specifically dedicated to the aluminum
industry,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis.
“PyroGenesis-Al is positioned to offer a complete portfolio of
products and services that drive GHG emissions reduction, as well
as repurpose toxic land-fill waste streams into valuable products,
for the aluminum industry. As such, we believe that PyroGenesis-Al
is well positioned to address many of the key environmental
challenges facing the industry.”
“Due to their strong, durable, and lightweight
characteristics, aluminum products are frequently marketed as a
green material,” said Mr. David D’Aoust, Sales Manager Drosrite™ of
PyroGenesis. “These qualities have led aluminum to become a key
material in the decarbonization of the transportation industry for
example, through enabling electrification (electric vehicles).
Furthermore, aluminum is infinitely recyclable, making it an
excellent candidate for replacing plastics in consumer-packaged
goods. However, two key drawbacks are that (i) current production
processes result in significant amounts of GHG emissions as well as
(ii) the need to landfill hazardous wastes. We believe that these
drawbacks can be addressed by our unique offerings and, as such,
PyroGenesis can make significant contributions and truly make
aluminum the real green material of the future.”
PyroGenesis-Al Offerings:
Drosrite™
PyroGenesis’ Drosrite™ offers the aluminum
industry an economically and environmentally sound solution to
processing their dross (a waste stream containing valuable metal),
eliminating landfill, while at the same time contributing to
reducing GHG emissions:
- Direct: due to savings in
transportation and avoiding burning fossil fuels in a Rotary Salt
Furnace (RSF)
- Indirect: due to the increased
recovery of aluminum (less emissions than producing aluminum from
primary resources)
The following table1, based on internal
calculations, summarizes the potential emissions reduction assuming
all the dross produced in the world2 was treated with
Drosrite™.
Based on this analysis, more than 4 million
tonnes of GHG can be reduced each year (which is the equivalent of
removing close to 875,000 cars from the road each year) if the
world’s aluminum dross was treated with Drosrite™. According to the
US EPA, an average passenger car in the US emits 4.6 tons of CO2
per year3. This equates to removing an average of 1,458 cars per
year, for each of PyroGenesis’ 5 tonnes systems, or close to 3,000
cars per year for each of the Company’s 10 tonnes systems.
Valorization of downstream dross
residues
Aluminum dross is typically comprised of two
elements: (i) aluminum metal (60%), and (ii) aluminum oxides (40%).
PyroGenesis’ Drosrite™ system can recover up to 98% of the aluminum
metal fraction. It is this remaining 40% aluminum oxide (dross
residues) material that is often landfilled or sold as a cheap
additive. Following the Joint Venture’s (JV) announcement, it is
expected that these residues could now be processed by the JV, and
converted into high margin products, such as aluminum sulfate and
ammonium sulfate, thereby transforming a waste stream into a
valuable product and unlocking a potentially significant new
revenue stream for the Company.
PyroGenesis’ Proprietary Plasma
Torches
Many of the largest primary aluminum smelters
already own, and generate, their own electricity to reduce costs,
since electricity costs are among one of the most significant
operating expenses in production. For example, Quebec’s rapidly
growing aluminum industry is enhanced by affordable and renewable
hydro electricity generation. Among the largest GHG emission
sources are the fossil fuel burners used across the smelters’
operations to heat kilns and furnaces. Given the immense and
affordable electrical infrastructure already existing at aluminum
smelters, PyroGenesis’ plasma torches represent an opportunity for
simple electric powered bolt-in replacements to fossil fuel
burners. PyroGenesis’ torches are designed to significantly reduce
GHG emissions.
Repurposing Spent Pot
Lining
As previously announced, the Company is
currently developing a new technology to address a significant
problem facing the aluminum industry; what to do with residues
generated from spent pot liners (“SPL”). PyroGenesis is currently
developing a new SPL technology, in partnership with a major Quebec
aluminum smelter, Aluminerie Alouette, based on its core plasma
waste destruction technologies that are currently in use with the
US Navy. This process is designed to transform SPL residues into a
fuel that is lower in carbon, as well as into materials that are
inert and reusable. In turn, this process provides an alternative
to landfill disposal of SPL residues and potentially other
industrial by-products, while significantly reducing specific GHG
emissions. This process is a closed loop solution at the smelter’s
site, eliminating the current industry reliance upon the cement
industry for disposal of hazardous waste fractions.
“These offerings are quite timely given the
environmental pressure facing the industry, and we expect to
continue to build upon recent successes,” said Mr. Pascali. “On the
back of introducing our Drosrite™ offering, our technology won one
of the largest dross processing tenders put out to bid. This was a
significant achievement and was the impetus for the announcement
today. In addition to this, we expect to sign our first tolling
agreement in Europe by year end. This would cap our sales/tolling
strategy for Drosrite (™).”
Mr. Pascali added that: “Once inside the fence,
we rapidly identified both downstream and upstream opportunities.
With respect to downstream opportunities, we recently signed a JV
agreement which will enable us to process residues, typically
destined for landfill/cheap aggregate into high value chemical
products. We have already identified the first opportunity and we
should have more news on this in the coming months. As exciting as
our downstream opportunities, we provided an update on our upstream
opportunity in the Outlook section of our financial statements
dated August 16th, where we noted that the $40MM opportunity was
delayed. We also identified a second opportunity, where again, we
seem to be the preferred contender. Despite the delay, which is
beyond our control, we are excited by the fact that in both
instances, we are the lead contenders and as such, has confirmed
that we have identified a very compelling offering. Last but not
least, the work we are doing to develop environmental solutions
(such as repurposing spent pot lining residues), to discerning
players in the industry demonstrates the success we are having in
becoming a go-to environmental solutions company to a very
conservative industry.”
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, IR/Comms. and Strategic BDPhone: (514)
937-0002, E-mail: ir@pyrogenesis.com RELATED LINK:
http://www.pyrogenesis.com/
1 Based on internal calculations2 Aluminum Dross Processing; A
Global Review, AlCircle.com3
https://www.epa.gov/greenvehicles/greenhouse-gas-emissions-typical-passenger-vehicle#:~:text=typical%20passenger%20vehicle%3F-,A%20typical%20passenger%20vehicle%20emits%20about%204.6%20metric%20tons%20of,8%2C887%20grams%20of%20CO2
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