- “FSR” Project:
Post quarter end, in July, the Company’s client, HPQ Silicon Inc., announced [news release dated July 30th] the start of commissioning of the Fumed Silica Reactor (FSR) pilot plant (described above in greater detail in the “Q2 2024 Operational Highlights” section).
The pilot plant will commence pre-commercial sample batches of fumed silica in the near term.
- Plasma-Based Graphite Production:
The Company is in advanced discussions with an entity engaged in the production of graphite, for a first phase design and delivery of a customized pilot-scale plasma reactor and associated testing system, with an estimated value of between $500,000 to $1 million.
- Drosrite Factory Trials:
The Company is in final logistical discussions with multiple aluminum manufacturers regarding on-site trials of the Company’s Drosrite furnace system for the processing of aluminum dross, as a first step towards potential purchase of Drosrite systems. These particular potential clients are located across Europe and the United States.
- Titanium Metal Powder
As noted above in the Q2 2024 Production and Sales Highlights, in June the Company announced that it had cleared the final requirement to becoming an approved supplier of its titanium metal powder to a global aerospace original equipment manufacturer.
The formal process for adding the Company to the approved supplier list has begun and is expected to be complete in the near term.
Waste Remediation
- SPARC Refrigerant Waste Destruction System:
The Company is in negotiations with a large US-based distributor of refrigerants and specialty gases for the construction of the Company’s SPARC (Steam Plasma Refrigerant Cracking) system, for the safe destruction of hazardous end-of-life refrigerants, such as CFCs, HCFCs, and HFCs, for a contract amount of approximately $2-3 million.
- Plasma-Based Glass Valorization:
The Company is in final negotiations with an entity in Canada, for a plasma-based furnace for use in the melting and valorization of recycled glass.
Business Line Developments: Mid Term (3-6 months)
Energy Transition & Emission Reduction
- Plasma Torch Systems:
The Company has been negotiating with a North American entity for the sale of a hyper power level plasma torch system of between 15-25MW, with a potential contract value of between $15-25 million.
Commodity Security & Optimization
- Drosrite Systems:
The Company is in various stages of discussions with aluminum manufacturers to purchase Drosrite aluminum dross processing systems, including with two Middle Eastern aluminum companies for the purchase of multiple 5,000+ tonnes per year Drosrite furnaces.
- Titanium Metal Powder:
The Company is in discussions with several companies about possible contracts for both fine and coarse cut titanium metal powder. These include large European and North American firms within the aerospace and materials supply industries.
Business Line Developments: Long Term (> 6 months)
Commodity Security & Optimization
- Plasma Resource Recovery System (PRRS):
Post quarter end, the Company announced [news release dated July 29, 2024] the signing of a contract for a land-based waste-to-energy system to a European entity, to transform municipal solid waste into both energy and chemical products. The contract was announced as two phased: phase 1 is a signed $2 million contract for a conceptual and preliminary design phase; phase 2 is the construction and delivery of a final system. Phase 1 is expected to be completed in 2025. Phase 2 is dependent on the client obtaining the required financing and the negotiation of terms and conditions. As noted in the news release, the potential value for this contract grew from approximately $25-$30 million to between $120-160 million, with final decision based on the results of the phase one project, which is scheduled for completion in Q3 2025.
Separately, the Company is in initial discussions with an additional European company for the Company’s Plasma Resource Recovery System, for use in the pyrolysis of plastics.
Waste Remediation
- Plasma Torches:
The Company has been in discussions over several years with a European entity, to act as a potential supplier of plasma torches for the entity’s waste-to-energy initiatives; the entity has, at times, listed PyroGenesis as their torch supplier in various publications online. This entity has recently announced having entered into an agreement with a German multi-Billion-dollar leading technology company to accelerate green energy transition through waste-to-energy technology. The entity announced that it aims to establish 300 plants producing 1 million tons of hydrogen over the next several years.
** Please note that projects or potential projects previously announced that do not appear in the above summary update should not be considered as at risk. Noteworthy developments can occur at any time based on project stages, and the information presented above reflects information on hand. Projects not mentioned may have simply not concluded or not presented milestones or client updates worthy of discussion or update.
FURTHER INFORMATION
Additional information relating to Company and its business, including the 2023 consolidated financial statements, the Annual Information Form and other filings that the Company has made and may make in the future with applicable securities authorities, may be found on or through SEDAR+ at www.sedarplus.ca, or the Company’s website at www.pyrogenesis.com.
Additional information, including directors’ and officers’ remuneration and indebtedness, principal holders of the Company’s securities and securities authorized for issuance under equity compensation plans, is also contained in the Company’s most recent management information circular for the most recent annual meeting of shareholders of the Company.
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 “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 . 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.
