Pyrogenesis - PYRGF STOCK NEWS

PyroGenesis has released guidance for Q4 and full-year 2024, projecting Q4 revenue of at least $4 million and full-year revenue of at least $15 million. This represents a 32% increase in quarterly revenue compared to Q4 2023 ($3.03M) and a 22% increase in annual revenue versus 2023 ($12.3M).

The company's backlog has grown significantly to $58 million, showing a more than 100% increase from the previous $29 million. According to CEO P. Peter Pascali, Q4 2024 is expected to be the strongest quarter since Q3 2022, demonstrating continued momentum since the revenue low of Q1 2023.

PyroGenesis operates in three key verticals: Energy Transition and Emission Reduction, Commodity Security and Optimization, and Waste Remediation, providing ultra-high temperature technology solutions for heavy industry.

PyroGenesis (TSX: PYR, OTCQX: PYRGF) announces significant energy efficiency achievements in their plasma torch technology. Recent testing data confirms up to 45% reduction in operational energy requirements compared to legacy diesel burners in PFAS destruction applications.

Tests across various applications demonstrate consistent benefits:

• 10-45% reduction in global energy consumption in aluminum sector applications
• Up to 30% reduction in melting time, increasing productivity
• 80% energy reduction in casting ladle heating compared to natural gas burners

These improvements enable companies to build smaller equipment for the same capacity, reduce costs, and increase production levels. The technology is part of PyroGenesis' three-vertical solution ecosystem, focusing on Energy Transition and Emission Reduction, Waste Remediation, and Commodity Security and Optimization.

PyroGenesis (TSX: PYR, OTCQX: PYRGF) reports that potential U.S. tariffs would have minimal impact on its operations. The company highlights that its Drosrite™ aluminum metal dross recovery systems are manufactured in the U.S., and most components for its systems are produced outside Canada.

The company's client base is primarily outside the U.S., concentrated in Europe, Canada, and the Middle East, with U.S. defense sector clients typically benefiting from tariff exemptions. Most contracts are denominated in US Dollars or Euros, potentially benefiting from current exchange rates.

PyroGenesis views potential U.S. policy changes positively, particularly regarding corporate tax reduction, regulatory streamlining, and energy sector expansion. The company's plasma torch technology, part of its three-tiered solution ecosystem, focuses on Energy Transition & Emissions Reduction, Waste Remediation, and Commodity Security and Optimization.

PyroGenesis announces a new $1.1 million contract through its subsidiary Pyro Green-Gas with the Varennes Carbon Recycling (VCR) plant, increasing total project contracts to $3.6 million. The new contract expands on the original $2.5 million project announced in June 2024 for a thermal swing adsorption system.

The additional scope includes engineering, technology services, and equipment for a nitrogen loop system at the VCR plant, which is a $1 billion biorefinery project backed by Shell, Suncor, Proman, and Enerkem, with support from Quebec and Canadian governments. The facility aims to convert 200,000 tonnes of non-recyclable waste into 125 million liters of chemicals and biofuels, targeting to reduce greenhouse gas emissions by 170,000 tonnes annually and 4.25 million tonnes over 25 years.

PyroGenesis (TSX: PYR) (OTCQX: PYRGF) has announced modifications to 1,710,350 common share purchase warrants. The changes include reducing the exercise price to $0.60 per share starting February 17, 2025, affecting two groups of warrants: 1,520,350 warrants currently priced at $0.75 and 190,000 warrants at $1.25. The warrants will expire on March 7, 2025.

The warrant certificates will be updated to reflect PyroGenesis' new corporate name and address, with all other terms remaining unchanged. The repricing requires final documentation with warrant holders, none of whom are company insiders. The TSX has approved these changes, subject to standard conditions. Proceeds from warrant exercises will support general corporate purposes.

PyroGenesis announces that its subsidiary, Pyro Green-Gas, has secured a US$1.74 million (CA$2.5 million) contract with a major global environmental services company for a large urban waste-to-energy project. The contract involves engineering, design, and delivery of gas flaring components for safe emission removal during renewable natural gas (RNG) production at a US-based organic waste facility.

The project aims to produce pipeline-quality natural gas for a major U.S. metropolitan area. An initial payment of CA$400,000 has been received, and the contract is expected to be completed in 2025. The technology will focus on environmentally friendly removal of peripheral emissions during RNG production.

This initiative is part of PyroGenesis's three-tiered solution ecosystem, specifically under the Energy Transition & Emissions Reduction tier, which includes gas purification, separation, and conversion technologies aimed at helping heavy industry reduce greenhouse gas emissions.

PyroGenesis has been granted European Patent EP 2 686 100 B1 for its steam plasma arc technology that destroys ozone-depleting substances. The patent complements their existing U.S. Patent No. 11,116,069 and strengthens their SPARC™ technology, which targets the destruction of end-of-life refrigerants like CFCs, HCFCs, and HFCs.

The technology uses steam plasma in a multi-zone high temperature reactor to efficiently destroy these substances while minimizing hazardous byproducts and CO2 emissions. Research suggests proper management of HFC refrigerants could reduce global warming by up to 0.5°C by 2100.

Additionally, PyroGenesis secured a €156,000 (CA$234,000) contract with a European Research Center to manufacture a 50-kW methane plasma torch. This technology will be used in developing a novel process to convert hydrocarbons into high-value chemicals like ethylene, aiming to replace traditional energy-intensive production methods.

PyroGenesis has received a US$730,000 (CA$1.04 million) milestone payment under an existing CA$4.1 million contract for a 4.5MW plasma torch with an undisclosed aeronautics and defense industry client. The client, which serves as a prime contractor for the U.S. government, recently signed an additional $27 million contract with PyroGenesis for a hyper-powered 20MW plasma torch.

The development of these high-powered plasma torch systems demonstrates PyroGenesis' capability to address challenging high-temperature process-heating needs in aerospace, defense, and heavy industries. The technology is part of the company's Energy Transition & Emissions Reduction strategy, helping industries reduce fossil fuel use and greenhouse gas emissions. This recent contract has increased PyroGenesis' project backlog to over $55 million, marking a historic high for the company.

PyroGenesis has received a US$1.28 million (CA$1.85 million) payment as part of their existing CA$25+ million Drosrite™ contract with Radian Oil and Gas Services Company. The payment follows a revised schedule adapted to the end-client's cash flow considerations.

The contract involves seven Drosrite™ aluminum dross recovery systems, with the first three systems already delivered and operational at the Ma'aden aluminum plant in Ras Al-Khair, Saudi Arabia - a joint venture with Alcoa. The remaining four systems have been manufactured and are being delivered to Saudi Arabia.

The Ma'aden facility is recognized as the world's largest and most efficient vertically integrated aluminum complex. This project is part of PyroGenesis' three-tiered solution ecosystem, focusing on Commodity Security and Optimization, Energy Transition and Emission Reduction, and Waste Remediation.