PYROGENESIS CDA INC ORD - PYRGF STOCK NEWS

PyroGenesis Canada Inc. has signed a $27 million contract for a 20MW plasma torch system with an existing U.S. client in the defense and aerospace sector. This landmark 3-year project increases PyroGenesis' backlog by approximately 90% to over $55 million, an all-time high for the company. The client, who previously ordered a 4.5MW plasma torch system, regularly serves as a prime contractor for the U.S. government.

The 20MW plasma torch is believed to be one of the most powerful commercially produced, positioning PyroGenesis for expansion into industries requiring higher power level technology. This contract highlights PyroGenesis' role in addressing challenging high-temperature needs in aerospace, defense, and heavy industries, aligning with global energy transition measures and emissions reduction efforts.

PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) has received a US$741,000 purchase order from Newport News Shipbuilding for after-sales component production. These components, to be delivered by March 2025, are for the USS Gerald R. Ford class aircraft carriers equipped with PyroGenesis' Plasma Arc Waste Destruction Systems (PAWDS).

The order highlights the company's growing impact in the defense industry and its recurring revenue stream from system sales and support. PyroGenesis has contracts for PAWDS systems on multiple Ford-class carriers, including the USS John F. Kennedy (deploying in 2025), USS Enterprise (launch scheduled for 2029), and USS Doris Miller (following in 2032).

This agreement is part of PyroGenesis' Waste Remediation tier, focusing on safe destruction of hazardous materials and recovery of valuable substances.

PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) congratulates its client EarthGrid on signing a joint venture agreement with EnerTech, a Kuwait Investment Authority entity, to deploy US$18 billion in infrastructure projects across the United States, Europe, and the Middle East. PyroGenesis confirms that EarthGrid is the previously undisclosed client that provided a $667,000 non-refundable down payment for multi-year multi-plasma torch purchases.

PyroGenesis and EarthGrid have a Master Agreement to collaborate on finalizing an initial statement of work for the design, build, and delivery of five high-power 2MW air plasma torch systems for approximately US$13 million. This joint venture marks a significant milestone for EarthGrid in bringing plasma-powered tunnel boring technology to fruition, with PyroGenesis as a key supplier of plasma expertise and technology.

PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) has secured a $1 million first-phase contract to develop a plasma-based graphite production system. The contract involves designing and delivering a customized pilot-scale plasma reactor and testing system for an unnamed graphite producer. Upon successful completion, PyroGenesis has exclusive rights to develop a full-scale graphite production plant.

The company has negotiated a 10% royalty on future gross revenues from the initial commercial plant and a 5% royalty on subsequent plants. PyroGenesis will be the exclusive plasma supplier and engineering service provider for these plants. This project aligns with PyroGenesis' Commodity Security & Optimization tier, focusing on critical minerals like graphite, which is important for various industries and Canada's Critical Mineral Strategy.

PyroGenesis Canada reported a strong Q2 2024 with significant financial and operational achievements. Revenue reached $3.93 million, a 29.6% year-over-year increase, and gross profit was $1.12 million. The company announced a backlog of signed contracts worth $29.8 million as of August 6, 2024. PyroGenesis posted net income of $1.4 million and an EPS of $0.01. The company continued its positive revenue trend, marking its fifth consecutive quarter of growth since Q1 2023.

Post-quarter events include a $2.8 million private placement and a significant land-based waste-to-energy contract in Europe potentially worth up to $160 million. PyroGenesis is also progressing with its Fumed Silica Reactor (FSR) pilot plant project, which could revolutionize silica production in North America. The company operates within three verticals: Energy Transition & Emission Reduction, Commodity Security & Optimization, and Waste Remediation, offering various advanced plasma and sustainable solutions.

PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF), a high-tech company specializing in advanced plasma processes and sustainable solutions for reducing greenhouse gases, has announced its upcoming second quarter 2024 financial results and business update conference call. The call is scheduled for Wednesday, August 7, 2024, at 10:00 AM Eastern Time.

Investors and interested parties can access the conference call via telephone by pre-registering through a provided link. A live webcast of the call will also be available in both English and French. The webcast will be accessible on the company's Investor Relations section after the call.

This event will provide an opportunity for stakeholders to gain insights into PyroGenesis' financial performance for Q2 2024, which ended on June 30, 2024, as well as receive updates on the company's progress and recent developments.

PyroGenesis Canada Inc. (TSX:PYR) (OTCQX:PYRGF) has signed a 2-stage contract for a land-based Plasma Waste-to-Energy System with a European consortium. The first stage, a $2 million conceptual and preliminary design phase, starts in Q3 2024 and will last up to one year. If successful, the project's second stage could range between $120-160 million.

The system is based on PyroGenesis' Plasma Resource Recovery System (PRRS), which transforms various types of waste into valuable products like syngas, methanol, and construction materials. This technology aims to eliminate toxic compounds and reduce the need for landfills while producing clean energy.

The increasing interest in PRRS is driven by stricter European legislation on high carbon footprint technologies. PyroGenesis expects to meet the design phase requirements and replicate the project's success in other regions facing carbon emissions and landfill challenges.

PyroGenesis Canada Inc. (TSX: PYR) (OTCQX: PYRGF) has announced that its subsidiary Drosrite International (DI) will be renamed PyroGenesis International. This follows the company's recent acquisition of 100% control of DI, a US-based private company. The Board of Directors is currently reviewing potential locations in the United States for PyroGenesis International.

This name change is part of PyroGenesis' evolving international strategy, aimed at better reflecting the company's global impact and facilitating future initiatives. The change does not involve any restructuring, change of control, or corporate reorganization for either PyroGenesis International or PyroGenesis Canada Inc.

PyroGenesis is a high-tech company that designs, develops, manufactures, and commercializes advanced plasma processes and sustainable solutions to reduce greenhouse gases and address environmental pollutants.

PyroGenesis Canada announced that HPQ Silica Polvere, a subsidiary of HPQ Silicon, signed a letter of intent (LOI) with Evonik The LOI aims to validate HPQ Polvere's Fumed Silica Reactor (FSR) technology, which converts quartz into fumed silica in an eco-friendly manner. The technology hopes to repatriate silica production to North America. Evonik has already approved HPQ Polvere's first-generation samples, and the next step is scaling up production. PyroGenesis is considering converting its annual royalty rights into a 50% ownership stake in HPQ Polvere.