Pyrogenesis Canada Inc - PYR STOCK NEWS

PyroGenesis Canada Inc. has confirmed the high quality of dross residues from its DROSRITE™ process through successful testing by a joint venture partner. This validation supports plans to develop and operate plants to convert dross residues into valuable chemical products globally. The company highlighted that these residues can now be transformed into high-margin products like aluminum sulfate and ammonium sulfate for use in fertilizer and water purification, aligning with growing regulations against landfill disposal. The first facility planning is set to begin in Q4.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced an upcoming powder production audit by a major North American aerospace company, set for September. This audit marks the culmination of an 18-month qualification process, focusing on evaluating their state-of-the-art metal powder production facility. Successful completion will allow for certification of their powders for commercial orders. The company also plans to establish a metal powder manufacturing facility in Europe, enhancing its market presence.

PyroGenesis Canada reported Q2 2022 revenues of $5.8M amid ongoing logistical challenges impacting client decisions. The company's gross margin stood at 43%, outperforming industry peers in aluminum, iron, and aerospace sectors. A backlog of contracts exceeds $35M, while recent milestones include delivering plasma torch systems for iron ore pelletization. The Inflation Reduction Act presents opportunities for growth in clean energy and emissions reduction. Despite macroeconomic hurdles, PyroGenesis is poised for accelerated growth in the latter half of 2022 and beyond.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) announced a conference call scheduled for August 16, 2022, at 10:00 AM ET to discuss its financial results for Q2 2022, which ended June 30, 2022. The company specializes in advanced plasma processes aimed at reducing greenhouse gases, serving industries such as iron ore pelletization, aluminum, waste management, and additive manufacturing. The call will cover the company's financial performance and corporate developments. Interested parties can pre-register to access the call.

PyroGenesis Canada Inc. (PYR) has achieved a significant milestone by transitioning from sample production to commercial batch production of titanium powder through its NexGen Plasma Atomization system. This innovation aims to enhance production rates and reduce waste for the 3D printing industry. The company has ongoing agreements with Aubert & Duval and a top-tier aerospace client to qualify its titanium powders. Additionally, PyroGenesis plans to expand into the Asian market, produce aluminum alloy powders, and establish a manufacturing facility in Europe.

PyroGenesis Canada Inc. has reached a significant milestone in the deployment of its plasma torches for iron ore pelletization, completing the delivery of a 1-MW plasma torch to Client A. This marks the first application of plasma technology in the steelmaking process. The installation will be completed in approximately 3-4 weeks, followed by a Site Acceptance Test (SAT), delayed by up to 90 days due to client-requested modifications.

Client A, a major international producer, has the potential for over 500 plasma torches across its plants, with a cost estimate for 36 torches between USD $75-95 million.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) held its annual shareholder meeting on June 21, 2022, where approximately 52% of shares were represented. All nominated directors were elected with high approval rates, ranging from 99.14% to 99.58%. Shareholders also approved the appointment of Raymond Chabot Grant Thornton LLP as auditors and authorized a name change to 'PyroGenesis Inc.' Additionally, a new Long Term Incentive Plan was adopted. The company announced the appointment of Audrey Haligua as Senior Legal Counsel and the departure of Sara-Catherine Tolszczuk, who will continue to assist as outside counsel.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) has entered a joint initiative with a leading engineering firm in the aluminum industry to utilize its zero-emission plasma torches in carbon anode baking. The pilot project will occur at the Client's research center, optimizing processes that are crucial for aluminum production. CEO P. Peter Pascali highlighted this collaboration as a response to rising aluminum demand and the need for lower carbon emissions. The project aims to demonstrate the potential of plasma technology to replace conventional gas burners in anode baking, potentially reducing emissions significantly.

PyroGenesis Canada Inc. announced the completion of a 100kg commercial order for its plasma atomized titanium powders, following a similar order completed just weeks earlier. This milestone signifies the transition to producing larger commercial batches using the NexGen™ plasma atomization system at their Montreal facility. The company is now positioned to produce metal powders by the tonne, enhancing its capabilities in the 3D printing sector and aligning with its commitment to sustainable practices that reduce greenhouse gases.