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. has announced a milestone payment of approximately $2.5MM under a $9.3MM contract with Tata Steel, with an expectation of receiving the remaining $3MM in the next nine months. Additionally, Pyro Green-Gas, a subsidiary, signed a new contract worth $267,000 for engineering improvements in hydrogen production processes. The company continues to enhance its offerings, particularly in environmental sustainability through advanced purification technologies.
PyroGenesis Canada Inc. has announced a joint venture to transform aluminum dross residues into high-value chemical products, enhancing its existing waste management offerings. This 50:50 JV will utilize patented technology for dross residue valorization, targeting projects in North America and the Gulf Cooperation Council. The initiative aligns with increasing regulatory pressures against landfill disposal of dross residues, potentially unlocking significant revenue streams. A plant is planned to process 25,000 tonnes of dross per year, with projected product prices between USD$200 to $450 per tonne.
PyroGenesis Canada has received a Notice of Allowance for U.S. Patent No. 11116069 for its innovative high power DC steam plasma torch system. This technology utilizes superheated steam to create a reactive plasma plume for the destruction of ozone-depleting substances like CFCs and HFCs, which have a significant global warming potential. The patent supports the commercialization of PyroGenesis' SPARC™ technology aimed at reducing greenhouse gas emissions, potentially lowering climate change impacts by reducing these refrigerants. The company positions itself as a leader in sustainable solutions.
PyroGenesis Canada Inc. (NASDAQ: PYR) announced the appointment of Andre Mainella as the new Chief Financial Officer, succeeding Ben Simo. Mainella brings over 20 years of experience in finance across various industries, including senior roles in public companies. His expertise includes financial reporting consolidation and corporate finance. The Board expresses confidence in Mainella's ability to oversee finance and contribute to the company's strategic goals during this pivotal growth period. PyroGenesis specializes in advanced plasma processes aimed at reducing greenhouse gases and operates within major industries like aluminum and waste management.
PyroGenesis Canada Inc. (NASDAQ: PYR) announced that its subsidiary, Pyro Green-Gas, will supply a landfill biogas purification system to Carbonaxion Bioénergies for the GNR Neuville project in Quebec. This contract, valued at over $5 million, involves technology expected to produce 1.8 million cubic meters of renewable natural gas (RNG) annually, reducing greenhouse gas emissions by 3,500 tonnes per year—equivalent to removing 1,000 cars from the road. The project highlights the demand for biogas facilities amid increasing regulatory focus on renewable fuels.
On September 20, 2021, PyroGenesis Canada (NASDAQ: PYR) announced its inclusion in both the FTSE Global Total Cap Index and the FTSE Global Micro Cap Index. These changes take effect immediately, enhancing the company's visibility and liquidity in the market. This milestone reflects PyroGenesis's commitment to its business strategy aimed at reducing greenhouse gas emissions through advanced plasma technologies. The FTSE indices are widely used benchmarks in investment, with over $17.9 trillion currently benchmarked to FTSE Russell indexes.
On September 17, 2021, PyroGenesis Canada Inc. (NASDAQ: PYR) announced that CEO P. Peter Pascali will present at the Sidoti & Company Fall Small Cap Investor Conference on September 22, 2021, at 2:30 PM Eastern Time. He will also participate in one-on-one meetings with investors during the event. The presentation can be accessed live through the company's website. PyroGenesis specializes in advanced plasma processes aimed at reducing greenhouse gas emissions, operating in sectors like iron ore pelletization and additive manufacturing.
PyroGenesis Canada Inc. (NASDAQ: PYR) has received a $6MM order for four plasma torches from a multi-billion-dollar iron ore producer, aiming to replace fossil fuel burners and reduce GHG emissions. The client anticipates needing an additional 130 torches following successful implementation. The estimated net present value (NPV) of each torch has risen from $3MM to $7MM, based on a projected 20-year lifespan. With global pellet production generating significant CO2 emissions, PyroGenesis positions itself as a leader in reducing GHGs in the iron ore industry.
PyroGenesis Canada Inc. (NASDAQ: PYR) has announced the renaming of its subsidiary AirScience Technologies Inc. to Pyro Green-Gas. This rebranding aims to unify the company’s various segments focusing on greenhouse gas (GHG) reduction. Pyro Green-Gas will continue as a wholly owned subsidiary, and while the legal name will remain until the change is finalized, the new branding will be implemented for marketing purposes shortly. CEO P. Peter Pascali emphasized that this change reflects the company’s ongoing commitment to sustainable technologies.
PyroGenesis Canada Inc. announced the receipt of an additional $630,000 in funding from a second government agency, bringing the total project funding to approximately $5.3 million. This funding supports their collaboration with HPQ Silica Polvere to develop a plasma process for converting quartz to fumed silica, aimed at reducing greenhouse gas emissions. The fumed silica market is projected to grow from $1.6 billion in 2020 to $2.3 billion by 2027, growing at a 5.5% CAGR. CEO Peter Pascali emphasized the project’s potential environmental benefits.
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