PyroGenesis Announces $273,000 Plasma Torch Contract with European Research Centre to Reduce GHGs
07 Februar 2022 - 9:15PM
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 (GHGs), announces
today that it has signed a $273,000 plasma torch contract with a
European research center (the "Client"), whose name and origin will
remain anonymous for confidentiality and competitive reasons.
The contract, valued at €189,000, or
approximately C$273,000, is for PyroGenesis to manufacture and
deliver a 50-kW methane plasma torch, which will be used by the
Client to develop a process to convert hydrocarbons, including
methane (a GHG), into useful chemicals such as olefins (e.g.,
ethylene, propylene), thereby significantly reducing GHGs.
Olefins are widely used as base materials
for many products, including plastics, detergents and adhesives.
Ethylene (C2H4), an olefinic chemical, is the largest volume
organic chemical produced globally and a basic building block for
the chemistry industry. The majority of ethylene and propylene are
produced from crude oil, which consumes enormous amounts of
energy1, and generates large amounts of CO2.2 It is therefore
crucial and urgent to replace the traditionally difficult,
expensive and inefficient processes that add GHGs to the
atmosphere.
“This contract, although small, once again
underscores our plasma torch expertise and the significant benefits
of PyroGenesis’ offerings which specifically reduce GHGs, and
reinforces our ability to offer unique, versatile and meaningful
solutions that expand the addressable market opportunities for the
Company,” said Mr. P. Peter Pascali, CEO and President of
PyroGenesis. “This latest agreement not only supports our overall
strategy to become a leading provider of greenhouse gas reduction
processes, but once again plants the seeds in a growing and
untapped market. We could not be prouder of the fact that our
plasma torches are consistently being selected by cutting-edge
entities around the world. We look forward to expanding these
relationships as a key element of our growth strategy.”
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 Investors
Relations and Strategic Business DevelopmentPhone: (514) 937-0002,
E-mail: ir@pyrogenesis.comRELATED LINK:
http://www.pyrogenesis.com/
__________________________1
https://news.usc.edu/135695/climate-change-game-changer-usc-scientists-find-more-efficient-way-to-convert-methane-into-useful-chemicals/2
Energies 2015, 8, 3739-3761; doi:10.3390/en8053739; Co-Production
of Olefins, Fuels, and Electricity from Conventional Pipeline Gas
and Shale Gas with Near-Zero CO2 Emissions. Part I: Process
Development and Technical Performance, Yaser Khojasteh Salkuyeh and
Thomas A. Adams II, Department of Chemical Engineering, McMaster
University
PyroGenesis Canada (TSX:PYR)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
PyroGenesis Canada (TSX:PYR)
Historical Stock Chart
Von Apr 2023 bis Apr 2024