Pyrogenesis Canada Inc - PYR STOCK NEWS

PyroGenesis Canada Inc. (NASDAQ: PYR) reported significant growth in Q2 2021, achieving record revenues of $8.3 million, up 289% from the previous year, and net income of $850,000, a 329% increase. The gross margin remained strong at 59.6%, and the company has a contract backlog of $32.1 million. Despite challenges from COVID-19 and increased expenses, management anticipates ongoing growth driven by their innovative technologies in greenhouse gas reduction and strategic partnerships. Cash reserves stand at $18.1 million, supporting further expansion efforts.

PyroGenesis Canada Inc. has finalized the strategic acquisition of AirScience Technologies Inc. (AST) for approximately $4.4 million, with payment contingent upon achieving various business milestones. This acquisition adds over $10 million in signed contracts to PyroGenesis' backlog and strengthens its position in the renewable natural gas (RNG) market. Operated as a wholly owned subsidiary, AST's technologies enhance PyroGenesis' sustainability solutions, particularly in reducing greenhouse gas emissions. The deal is expected to positively impact earnings per share in 2021.

PyroGenesis Canada has announced its upcoming presentation at the SNN Network Summer Virtual Event 2021 on August 18 at 10:30 AM ET. CEO P. Peter Pascali will present and answer investor questions. Interested participants can access the live presentation via a provided link and register for 1x1 investor meetings. All presentations will be available on the conference platform afterward. PyroGenesis, a leader in advanced plasma technology, focuses on sustainability and reducing greenhouse gases, and is certified for quality operational standards.

PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) will present at the SNN Network Summer Virtual Event 2021 on August 18, 2021, at 10:30 AM ET. CEO P. Peter Pascali will lead the presentation, discussing the company's advanced plasma technologies that reduce greenhouse gases. Investors can register for the event and book 1x1 meetings. Presentations will also be available post-event. PyroGenesis specializes in sustainable solutions for industries such as iron ore pelletization, aluminum, waste management, and additive manufacturing.

PyroGenesis Canada Inc. (PYR) has successfully produced Nano Silicon materials using its PUREVAP™ Nano Silicon Reactor for HPQ Silicon Resources Inc.'s subsidiary, HPQ Nano Silicon Powders. Despite prior operational delays, this milestone confirms the project's viability, aiming to enhance lithium-ion batteries by replacing graphite with nano silicon. The company plans to optimize the process and conduct third-party evaluations before delivering samples. A future agreement guarantees PyroGenesis a 10% royalty on HPQ NANO’s sales, with an option for 50% ownership in HPQ NANO.

PyroGenesis Canada has filed an early warning report regarding CEO P. Peter Pascali's intention to dispose of up to 765,000 common shares through an automatic securities disposition plan on the Toronto Stock Exchange. The shares represent 0.46% of the total shares issued. Following the disposition, Pascali will hold 48.20% of the company's outstanding shares. As of now, he owns 61,742,941 shares, or 36.80%.

Investors should be aware that his shareholding structure includes various trusts and foundations.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced the launch of its e-commerce website on July 14, 2021, offering charitable merchandise with profits directed to children's charities. The online store features exclusive clothing and lifestyle products inspired by community requests. CEO P. Peter Pascali highlighted the initiative as a reflection of the company's philosophy to support the less fortunate. Access the store at shop.pyrogenesis.com.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) has secured a contract worth approximately $4 million with HPQ Silica Polvere Inc. to develop a novel process to convert quartz into fumed silica, part of a total project valued at $5.3 million. This initiative is supported by $700,000 in funding from Sustainable Development Technology Canada and aims to reduce greenhouse gas emissions by 90%. The company anticipates significant growth in the fumed silica market, projected to increase from $1.5 billion in 2016 to $2.2 billion by 2022.

PyroGenesis Canada Inc. announced the results of its annual shareholder meeting held on June 22, 2021. Approximately 55% of common shares were represented, with all nominees for the board of directors elected, receiving over 99% of votes in favor. Raymond Chabot Grant Thornton LLP was appointed as auditors. Shareholders also approved amendments to the stock option plan. The company will release its 2021 Annual Progress Report on its website. For further details, visit PyroGenesis’ profile on SEDAR.