Pyrogenesis Canada Inc - PYR STOCK NEWS

PyroGenesis Canada, a leader in advanced plasma processes, announced a conference call scheduled for April 1, 2022, to discuss its 2021 financial results and corporate developments. The company is expanding its workforce and has appointed Steve McCormick as Vice President, Corporate Affairs. McCormick brings over 25 years of experience in corporate strategy and has a background familiar with PyroGenesis from his prior involvement in investor forums. The company emphasizes its commitment to reducing greenhouse gases and continues to innovate in several key industries.

PyroGenesis Canada (NASDAQ: PYR) has received approval from the Toronto Stock Exchange for a Normal Course Issuer Bid (NCIB). The company intends to repurchase up to 7,500,000 common shares, representing approximately 4.4% of its issued shares, from February 15, 2022, to February 14, 2023. The Board believes the current market price does not reflect the company's value and that share repurchases will benefit shareholders. This NCIB follows a previous buyback of 840,094 shares at an average price of $4.96.

PyroGenesis Canada Inc. has successfully completed the factory acceptance test (FAT) for its 1-MW plasma torch, intended for the iron ore pelletization industry, in collaboration with Client A. The FAT was executed at PyroGenesis’ Montreal facility and approved by the client. The plasma torch is set for shipment by the end of Q1 2022, followed by installation and a site acceptance test (SAT) expected by late July 2022. This milestone marks progress towards replacing fossil fuel burners in the sector and aligns with PyroGenesis’ mission to provide sustainable, advanced plasma technologies.

PyroGenesis Canada Inc. (NASDAQ: PYR) has secured a €189,000 (approximately C$273,000) contract with a European research center to manufacture a 50-kW methane plasma torch. This technology aims to convert hydrocarbons, notably methane, into valuable chemicals like olefins, helping to reduce greenhouse gas emissions. CEO P. Peter Pascali highlighted that this contract reinforces PyroGenesis’ expertise in plasma torch solutions and supports their strategy to lead in greenhouse gas reduction processes. The deal signifies ongoing opportunities in a growing market for sustainable technologies.

PyroGenesis Canada Inc. announced its participation in The MicroCap Rodeo’s 2nd Annual Winter Wonderland Best Ideas Conference from February 8-11, 2022. CEO Peter Pascali is set to present on February 9 at 1:30 PM ET. The presentation will be accessible via the company’s website and through a webcast. Additionally, the company is disappointed to announce the resignation of board member Rodney Beveridge due to a policy from his employer, Toronto Dominion Bank. This resignation is viewed as impactful for the company.

PyroGenesis Canada Inc. (TSX: PYR, NASDAQ: PYR) has announced a $3 million contract for the purchase of a Drosrite™ system from an anonymous existing client, aimed at enhancing aluminum dross processing capacity. This order follows a Letter of Intent from June 2021. The facility is expected to be operational by April 2022, with further systems planned upon successful startup. The Drosrite™ system supports GHG reduction and maximizes metal recovery, underscoring PyroGenesis' commitment to sustainable solutions in the aluminum industry.

PyroGenesis Canada Inc. (NASDAQ: PYR) has submitted a cost estimate of USD $75-$95 million for 36 plasma torches (3 MW) to a multi-billion-dollar iron ore pellet producer, referred to as Client A. This request doesn't guarantee future revenues. The company emphasizes its role in reducing greenhouse gas emissions with its patented technology, which could address a market worth over $10 billion. Notably, around 400 million tons of pellet production annually consumes approximately 8,000-12,000 MW of energy. A factory acceptance test for using plasma torches will occur between February 2nd and 14th, 2022.

PyroGenesis Canada Inc. (NASDAQ: PYR) announced a factory acceptance test (FAT) for its plasma torches with a major client in iron ore pelletization scheduled from Feb 2-14, 2022. The client aims to reduce greenhouse gas emissions across its multiple plants, potentially requiring up to 500 torches. The company projects a $10B addressable market for its technology, which replaces fossil fuel burners with plasma torches, significantly lowering emissions. CEO P. Peter Pascali emphasized the milestone's importance and the project’s timely progress despite prevailing supply chain challenges.

PyroGenesis Canada Inc. (NASDAQ: PYR, TSX: PYR) has issued a statement addressing the recent decline in its stock price, assuring investors that all projects remain on track and that there are no undisclosed events causing this decline. CEO P. Peter Pascali emphasized that all material information has been disclosed and that contracts are secure. The company's forward-looking statements reflect its commitment to sustainable solutions and advanced plasma processes, which are gaining traction in major markets including iron ore pelletization and aluminum.