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. (PYR) reported Q4 and fiscal year 2022 results, with Q4 revenue at $3.3 million, down from $7.2 million in Q4 2021, and total annual revenue of $19 million, down from $31.1 million. The decline was attributed to slower technology adoption, particularly in the aluminum sector, and client delays. However, the company achieved a gross margin of 42.8% for 2022. CEO P. Peter Pascali expressed optimism about engaging in technology research initiatives amid supportive government policies for decarbonization. Looking ahead, PyroGenesis aims to drive business lines toward acceptance and close more deals, expecting future revenue opportunities from a backlog of $32.4 million.
PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced a conference call scheduled for March 31, 2023, at 11:00 AM ET to discuss its 2022 fiscal year financial results, corporate progress, and key developments. The company specializes in advanced plasma processes aimed at reducing greenhouse gas emissions and is recognized for its patented technologies in various industries, including iron ore pelletization and additive manufacturing. With ISO certifications since 1997, PyroGenesis maintains a competitive edge in technology development and commercialization.
PyroGenesis Canada Inc. (TSX: PYR; NASDAQ: PYR) announced an order for three plasma torches from Newport News Shipbuilding, intended for the USS Gerald R. Ford aircraft carrier, valued at approximately $13 billion. The plasma torches will enhance the Company’s Plasma Arc Waste Destruction System (PAWDS), which successfully completed its maiden mission in fall 2022. This order, worth CA$700,800 (US$507,500), signifies the Company’s ongoing collaboration with the US Navy. Additionally, PyroGenesis has appointed Mark Paterson as General Counsel, bringing extensive legal experience to the company.
PyroGenesis Canada Inc. has appointed Olivier Dubois as Principal Advisor for European Operations and Sales, enhancing the company's strategic expertise in additive manufacturing. Dubois brings extensive experience from his previous roles, notably at Aubert & Duval, where he managed operations and sales in the metal powders sector. His appointment aims to support the company's global strategy and establish European operations, leveraging his deep industry knowledge. With an Executive MBA and ongoing digital transformation studies, Dubois is expected to provide valuable insights as PyroGenesis aims for expansion in the European market.
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