PyroGenesis Announces Project with Leading Furnace Manufacturer to Incorporate Plasma Torches in Aluminum Scrap Remelting Furnaces
24 Mai 2022 - 01:30PM
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 that, further to its press release
dated April 20th, which provided an update on its Aluminum Business
offerings, the Company has undertaken a joint evaluation (the
“Agreement”) with a major manufacturer (the “Client”), to test
PyroGenesis’ zero-emission plasma torches in their scrap remelting
and holding furnaces for the aluminum industry. The name of the
Client remains anonymous for confidentiality reasons.
This Agreement outlines, amongst other things,
the first step being a computational fluid dynamics (CFD) study to
gather pre-test data and evaluate plasma for use in furnaces
serving the secondary aluminum market: i.e., aluminum producers who
re-melt and re-sell scrap and recycled aluminum.
PyroGenesis has already received a purchase
order for the CFD study which is well underway, and additional next
steps are already being planned.
The Client is one of the largest manufacturers
of industrial furnaces around the world, with an almost 100-year
legacy, who supplies industrial furnaces and
engineering/metallurgical solutions - for virtually all process
steps – to the aluminum, steel, and mining industries.
“This Agreement underscores the applicability,
and timing, of PyroGenesis’ offerings within the aluminum industry
which, incidentally, has now expanded beyond just primary aluminum
producers,” said Mr. P. Peter Pascali, CEO and Chair of
PyroGenesis. “This is particularly interesting given this Agreement
is, once again, with such a prominent manufacturer in the
industry.”
“Driven by (i) rising aluminum demand1 and (ii)
the fact that secondary scrap aluminum contributes to the overall
aluminum supply at a much lower energy and emissions intensity (up
to 95% less carbon footprint compared to primary aluminum
production from initial mined ore2), more and more aluminum
producers are taking steps to increase scrap metal in their product
lines. The sector’s low-emissions claims and targets put
significant pressure on ensuring that the process itself (to melt
scrap and maintain molten heat) is done with as low a carbon
footprint as possible. PyroGenesis’ combustion-less and
emissions-free electric plasma torches are a rare technological
solution that is immediately identifiable,” continued Mr. Pascali.
“As such, we look forward to announcing additional initiatives
within this sector of the aluminum industry as negotiations
currently taking place bear fruit.”
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 plasm a
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 .World aluminium industry must cut emissions by 77% by 2050
-IAI, Reporting by Eric Onstad, Editing by Nick Zieminski, March
2021https://www.reuters.com/world/china/world-aluminium-industry-must-cut-emissions-by-77-by-2050-iai-2021-03-16/
2 Not all aluminium is equal: We need to
increase the use of post-consumer scrap to accelerate emission
cuts., by Jostein Soreide, Head of Climate Office in Hydro, May 03,
2021Not all aluminium is equal: We need to increase the use of
post-consumer scrap to accelerate emission cuts (hydro.com)
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