Welcome to our dedicated page for Pyrogenesis Canada news (Ticker: PYR), a resource for investors and traders seeking the latest updates and insights on Pyrogenesis Canada stock.
PyroGenesis Canada Inc. (symbol: PYR) is a world leader in the design, development, manufacture, and commercialization of advanced plasma processes. Headquartered in Montreal with a 3,800 m2 manufacturing facility, PyroGenesis offers a range of solutions to various industries, including defense, metallurgical, mining, additive manufacturing (including 3D printing), oil & gas, and environmental sectors.
Renowned for its innovative plasma technologies, the company provides engineering and manufacturing expertise, cutting-edge contract research, and turnkey process equipment packages. PyroGenesis maintains its competitive edge by staying at the forefront of technology development and commercialization, supported by a team of experienced engineers, scientists, and technicians.
The company's core products and services include plasma torches, plasma waste processes, and high-temperature metallurgical processes. PyroGenesis is ISO 9001:2008 certified, a testament to its commitment to quality and excellence since 1997.
Recent achievements highlight PyroGenesis' continuing innovation and market expansion. The company has recently expanded into the coarse cut metal powder market, complementing its existing fine powder offerings. In a notable development, PyroGenesis is preparing for a milestone silicon pour, a key step towards full commercialization of its processes. This advancement positions clients to transition to commercial production plants equipped with PyroGenesis' systems.
PyroGenesis also plays a significant role in environmental sustainability. The company is developing a pilot plant for a unique chemical-free process aimed at producing fumed silica with significant energy savings and carbon emissions reduction.
Moreover, PyroGenesis supports the European Union in eliminating legacy weapons, underscoring its commitment to global safety and environmental protection.
PyroGenesis Canada Inc. (NASDAQ: PYR) has launched a new zero-carbon emission hydrogen production technology that is expected to effectively compete with existing methods. The new technology leverages thermal plasma to convert methane into hydrogen, creating what is termed "Turquoise Hydrogen." This process boasts a theoretical electricity cost three times lower than water electrolysis, offering a cost-effective, energy-efficient, and scalable alternative for hydrogen production. The company has filed a PCT application for its technology, further strengthening its market position as industries seek sustainable hydrogen solutions.
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) addresses investor inquiries regarding recent trading activity, confirming that all material information has been disclosed and that none of its contracts are at risk. The company emphasizes that its share price may not reflect its underlying value, especially concerning growth opportunities. In response, it plans to repurchase shares under its Normal Course Issuer Bid (NCIB), stating this is a beneficial use of corporate funds. PyroGenesis continues to progress on current and future projects in advanced plasma technologies.
PyroGenesis Canada Inc. reported Q3 2021 financial results, showing a 14% revenue increase to $9.3MM from $8.1MM in Q3 2020, significantly benefiting from the recent acquisition of Pyro Green-Gas which contributed $3.7MM. Gross margin was maintained at 43.5%, while net income stood at $623K. The backlog of contracts amounted to $44.9MM, indicating strong future revenue potential. However, comprehensive income fell by 96% year-over-year to $623K, impacted by rising costs, especially in SG&A and R&D, despite a solid cash position of $15.8MM.
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) will host a conference call on November 16, 2021, at 10:00 AM ET to discuss its third quarter financial results, corporate progress, and other developments. The call can be accessed via telephone or through a webcast on their investor relations page. The company specializes in advanced plasma processes aimed at sustainability and reducing greenhouse gases, currently serving multiple multibillion-dollar industries.
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) will present at the Q4 Investor Summit on November 17, 2021. CEO P. Peter Pascali is set to speak at 11:45 am Eastern Time and will also engage in one-on-one meetings with investors throughout the event. The conference connects small and microcap companies with over 800 qualified investors and will feature more than 80 companies. Attendees can register for the conference and view the webcast at the provided link.
PyroGenesis Canada Inc. (PYR) has announced its guidance for the third quarter of 2021, expecting revenue to exceed $8 million, leading to a total of at least $22 million for the nine months ending September 30, 2021. This marks a significant increase compared to $8.1 million in Q3 2020 and $11 million for the same nine-month period in 2020. The company anticipates reporting positive net income and earnings per share for Q3 2021. CEO P. Peter Pascali highlights the challenges of revenue recognition due to supply chain issues but remains optimistic about record revenue and a strong backlog of contracts.
PyroGenesis Canada Inc. has announced its selection for a $9.2 million contract to provide a land-based system for destroying Perfluoroalkyl and Polyfluoroalkyl Substances (PFAS). This marks the company's first commercial land-based system outside the military sector. The project consists of two phases: pilot testing followed by full system fabrication. Completion is expected within six months for the pilot phase. The need for PFAS solutions is critical due to their status as persistent environmental pollutants linked to health issues.
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced that CEO P. Peter Pascali will present at the Benzinga Global Small Cap Conference on October 28, 2021, at 12:35 PM ET. This virtual event connects small-cap companies with investors and traders, providing educational modules and opportunities to explore small-cap investments. Interested investors can register for a free spectator pass to attend the presentation. PyroGenesis specializes in advanced plasma processes and sustainable solutions aimed at reducing greenhouse gases.
PyroGenesis Canada Inc. has launched a new division, PyroGenesis Aluminum, aimed at providing environmental solutions to the aluminum industry. This division focuses on five key services: Drosrite™ sales, valorization of dross residues, upstream applications, high-powered plasma torches, and repurposing spent pot lining. With these offerings, the company aims to address greenhouse gas emissions and landfill waste issues in aluminum production. The Drosrite™ system alone could reduce over 4 million tonnes of greenhouse gases annually, equivalent to removing 875,000 cars from the road.
PyroGenesis Canada has secured a $1.15 million contract from Innovative Solutions Canada for developing a hybrid ceramic powder processing system. This project follows a successful Phase 1 proof of concept and aims to produce carbon nanotubes in a single step, enhancing efficiency over conventional methods. The initiative promises significant commercial and environmental benefits, leveraging renewable hydroelectric power.
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