PyroGenesis and GE Vernova Sign Memorandum of Understanding (MOU)
PyroGenesis (PYRGF) has signed a memorandum of understanding (MOU) with GE Vernova's Power Conversion & Storage business to develop and test plasma torch technologies for multi-megawatt industrial processes. The collaboration aims to replace fossil fuel combustion with all-electric plasma torches in high-temperature applications for aluminum, steel, and calcination industries.
Recent testing of PyroGenesis' plasma torches has demonstrated:
- Solid business case based on energy savings
- Potential for smaller furnaces with same capacity
- Up to 30% increase in production rates
The MOU outlines two phases: Phase 1 involves implementing plasma torches in an iron ore pellet facility, while Phase 2 focuses on retrofitting a primary aluminum smelter casthouse. This follows PyroGenesis' recent $27 million contract for developing a 20MW plasma torch system announced in October 2024.
PyroGenesis (PYRGF) ha firmato un memorandum d'intesa (MOU) con l'azienda Power Conversion & Storage di GE Vernova per sviluppare e testare tecnologie di torce al plasma per processi industriali multi-megawatt. La collaborazione mira a sostituire la combustione di combustibili fossili con torce al plasma completamente elettriche in applicazioni ad alta temperatura per le industrie dell'alluminio, dell'acciaio e della calcinazione.
I recenti test delle torce al plasma di PyroGenesis hanno dimostrato:
- Un solido business case basato su risparmi energetici
- Potenziale per forni più piccoli con la stessa capacità
- Aumento della produzione fino al 30%
Il MOU delinea due fasi: la Fase 1 prevede l'implementazione di torce al plasma in un impianto di pellet di minerale di ferro, mentre la Fase 2 si concentra sull'adeguamento di una fonderia primaria di alluminio. Questo segue il recente contratto di 27 milioni di dollari di PyroGenesis per lo sviluppo di un sistema di torce al plasma da 20MW annunciato nell'ottobre 2024.
PyroGenesis (PYRGF) ha firmado un memorando de entendimiento (MOU) con el negocio Power Conversion & Storage de GE Vernova para desarrollar y probar tecnologías de antorchas de plasma para procesos industriales de múltiples megavatios. La colaboración tiene como objetivo reemplazar la combustión de combustibles fósiles con antorchas de plasma totalmente eléctricas en aplicaciones de alta temperatura para las industrias del aluminio, acero y calcinación.
Las pruebas recientes de las antorchas de plasma de PyroGenesis han demostrado:
- Un sólido caso de negocio basado en ahorros de energía
- Potencial para hornos más pequeños con la misma capacidad
- Aumento de la producción de hasta un 30%
El MOU describe dos fases: la Fase 1 implica la implementación de antorchas de plasma en una planta de pellets de mineral de hierro, mientras que la Fase 2 se centra en la adaptación de una fundición primaria de aluminio. Esto sigue a un reciente contrato de 27 millones de dólares de PyroGenesis para desarrollar un sistema de antorchas de plasma de 20MW anunciado en octubre de 2024.
PyroGenesis (PYRGF)는 GE Vernova의 전력 변환 및 저장 사업과 함께 다중 메가와트 산업 프로세스를 위한 플라즈마 토치 기술을 개발하고 테스트하기 위한 양해각서(MOU)를 체결했습니다. 이번 협력은 알루미늄, 강철 및 칼시네이션 산업의 고온 응용 분야에서 화석 연료 연소를 완전 전기 플라즈마 토치로 대체하는 것을 목표로 하고 있습니다.
PyroGenesis의 플라즈마 토치에 대한 최근 테스트는 다음과 같은 결과를 보여주었습니다:
- 에너지 절약을 기반으로 한 견고한 비즈니스 사례
- 동일한 용량의 더 작은 용광로 가능성
- 생산 속도 최대 30% 증가
MOU는 두 가지 단계로 나뉩니다: 1단계는 철광석 펠릿 시설에 플라즈마 토치를 구현하는 것이고, 2단계는 1차 알루미늄 제련소를 개조하는 것입니다. 이는 2024년 10월에 발표된 2천7백만 달러 규모의 20MW 플라즈마 토치 시스템 개발 계약에 따른 것입니다.
PyroGenesis (PYRGF) a signé un protocole d'accord (MOU) avec l'entreprise Power Conversion & Storage de GE Vernova pour développer et tester des technologies de torches à plasma pour des processus industriels multi-mégawatts. La collaboration vise à remplacer la combustion de combustibles fossiles par des torches à plasma entièrement électriques dans des applications à haute température pour les industries de l'aluminium, de l'acier et de la calcination.
Les tests récents des torches à plasma de PyroGenesis ont démontré :
- Un solide business case basé sur des économies d'énergie
- Un potentiel pour des fours plus petits avec la même capacité
- Une augmentation de la production allant jusqu'à 30%
Le MOU décrit deux phases : la Phase 1 implique la mise en œuvre de torches à plasma dans une installation de pellets de minerai de fer, tandis que la Phase 2 se concentre sur la modernisation d'une fonderie primaire d'aluminium. Cela fait suite à un contrat récent de 27 millions de dollars de PyroGenesis pour le développement d'un système de torches à plasma de 20 MW annoncé en octobre 2024.
PyroGenesis (PYRGF) hat ein Memorandum of Understanding (MOU) mit dem Power Conversion & Storage Geschäft von GE Vernova unterzeichnet, um Plasmatorchentechnologien für industrielle Prozesse mit mehreren Megawatt zu entwickeln und zu testen. Die Zusammenarbeit zielt darauf ab, die Verbrennung fossiler Brennstoffe durch voll elektrische Plasmatöpfe in Hochtemperaturanwendungen für die Aluminium-, Stahl- und Kalzinierungsindustrie zu ersetzen.
Die jüngsten Tests der Plasmatöpfe von PyroGenesis haben Folgendes gezeigt:
- Solider Geschäftsfall basierend auf Energieeinsparungen
- Potenzial für kleinere Öfen mit derselben Kapazität
- Produktionssteigerung von bis zu 30%
Das MOU skizziert zwei Phasen: Phase 1 beinhaltet die Implementierung von Plasmatöpfen in einer Pelletanlage für Eisenerz, während Phase 2 sich auf die Nachrüstung eines primären Aluminium-Hüttenwerks konzentriert. Dies folgt auf den kürzlich angekündigten Vertrag über 27 Millionen Dollar von PyroGenesis zur Entwicklung eines 20-MW-Plasmatopfsystems, der im Oktober 2024 bekannt gegeben wurde.
- Strategic partnership with major industrial player GE Vernova
- Recent testing confirms significant energy cost savings
- Technology enables up to 30% increase in production rates
- Secured $27M contract for 20MW plasma torch system
- Multiple revenue opportunities across aluminum, steel, and calcination industries
- MOU is preliminary and non-binding
- Implementation timeline and final agreement terms not yet defined
Next Step: furnace electrification agreement to use PyroGenesis plasma torches in multi-megawatt industrial processes
MONTREAL, March 11, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a high-tech company that designs, develops, manufactures and commercializes advanced all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, announces the signing of a memorandum of understanding (“MOU”) with GE Vernova’s Power Conversion & Storage business. The MOU, announced in conjunction with GE Vernova as per their news release earlier today, Tuesday March 11, 2025, initiates discussions toward a multi-year strategic collaboration in the development and testing of PyroGenesis technologies that replace fossil fuel combustion in high temperature processes with all-electric plasma torches. This would specifically target multi-megawatt industrial processes of the type required by aluminum and steel producers, or calcination processes such as in the alumina, cement, and quicklime industries.
“We are excited to announce this MOU as a significant step forward in our commitment to electrifying emissions-intensive industries. By forging this partnership, we are not only advancing our strategic goals but also reinforcing our dedication to sustainable practices that align with global efforts to reduce carbon footprints. This collaboration underscores our resolve to drive innovation and create impactful solutions that contribute to a cleaner, more sustainable future for generations to come.” said Ed Torres, Power Conversion & Storage Business Leader at GE Vernova.
“This MOU with GE Vernova reflects the next-level industrial electrification requirements for PyroGenesis’ plasma torches that will require multi-megawatt power in excess of 10 megawatts. This announcement comes on the heels of our press release dated February 10, where results from multiple client testing projects using our plasma torches confirmed that (i) a solid business case can be made to transition to all-electric PyroGenesis plasma torches from an energy savings perspective alone, with the positive environmental impact (such as CO2 reduction) being a crowning achievement; (ii) with the reduced energy requirement as a result of using PyroGenesis torches, companies can now contemplate building smaller furnaces (for the same capacity), reducing costs further for the same project; and (iii) reduced metal melting time means companies can raise production levels, generating higher and faster output. The resulting increase in production rates by up to
Under the MOU, PyroGenesis would provide the plasma torch system and GE Vernova would provide the supporting electrical infrastructure.
Phase 1 of the collaboration is to conclude a study for the implementation and retrofit using PyroGenesis plasma torches and GE Vernova’s supporting electrical infrastructure, for a large facility in the iron ore pellet industry.
Phase 2 of the collaboration will similarly include the preparation of a study for the implementation and retrofit using PyroGenesis plasma torches and GE Vernova’s supporting electrical infrastructure, for a primary aluminum smelter casthouse.
PyroGenesis’ development of plasma torches for use in high temperature industrial processes is part of its three-vertical solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches for use in industrial furnaces are part of PyroGenesis’ Energy Transition and Emission Reduction tier, where fuel switching to PyroGenesis’ electric-powered plasma torches helps heavy industry reduce energy costs, fossil fuel use, and emissions. The other verticals are Waste Remediation and Commodity Security and Optimization.
About PyroGenesis Inc.
PyroGenesis, a high-tech company, is a proud leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multibillion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing. With a team of experienced engineers, scientists and technicians working out of its Montreal office, and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The operations are ISO 9001:2015 and AS9100D certified, having been ISO certified since 1997. PyroGenesis’ shares are publicly traded on the TSX in Canada (TSX: PYR), the OTCQX in the US (OTCQX: PYRGF), and the Frankfurt Stock Exchange in Germany (FRA: 8PY).
About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 100 countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.
GE Vernova’s Power Conversion & Storage business combines advanced energy conversion and storage systems to meet the electrification needs of utilities and industries. With a focus on power stability, energy storage, and industrial electrification solutions, Power Conversion & Storage empowers customers by addressing their most complex electrification challenges and accelerating their transition to a sustainable, decarbonized future.
Cautionary and Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.
Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws.
Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.
For further information please contact:
Rodayna Kafal, Vice President, IR/Comms. and Strategic BD
E-mail: ir@pyrogenesis.com
http://www.pyrogenesis.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23fff38b-d1e7-4f88-bd2a-2b3fe3fce1ee
FAQ
What are the key benefits of PyroGenesis (PYRGF) plasma torch technology according to recent testing?
What is the scope of the MOU between PyroGenesis (PYRGF) and GE Vernova?
What are the two phases outlined in the PyroGenesis (PYRGF) and GE Vernova collaboration?
How does the recent $27 million contract relate to PyroGenesis (PYRGF) plasma torch development?
