PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX:PYR)
(OTCQX:PYRGF) (FRA:8PY), a high-tech company (the “Company” or
“PyroGenesis”) that designs, develops, manufactures and
commercializes advanced plasma processes and sustainable solutions
which are geared to reduce greenhouse gases (GHG), is pleased to
announce that, further to its news release dated July 2, 2024, it
has signed a 2-stage contract to complete a land-based Plasma
Waste-to-Energy System for a European entity. The first stage
consists of a conceptual and preliminary design phase for
approximately $2 million (€1.3 million) which commences in Q3 2024
and is scheduled to last no more than one year. The purpose of the
design phase is to confirm, and more precisely determine, the order
of magnitude cost estimate of the system’s construction, which
shall range between $120-160 million (€80-105 million) depending on
the system’s capacity and the selected by-product. In addition,
during this phase, the Company will further establish the initial
framework for the project through feasibility assessments, scope
definition, and risk identification. Should this first stage prove
successful, then the parties are committed, subject to (a) final
financing allocation and (b) terms and conditions of the second
stage agreement (which is dependent on the results of the design
phase), to move forward with the project. The design of the Plasma
Waste-to-Energy System is based on the Company’s Plasma Resource
Recovery System (PRRS), a waste-to-energy technology that
eliminates toxic compounds while transforming waste into reusable
products such as syngas and chemicals such as methanol. The client
is a European consortium that shall remain anonymous for
competitive and confidentiality reasons.
PyroGenesis’ PRRS system is designed to process
municipal solid waste (MSW), industrial waste, and hazardous waste
(liquid, solid, and sludge), transforming such into commercially
valuable products, which include gaseous fuel for electricity and
heat generation, slag, aggregates suitable for construction, and
recoverable metals for recycling. Based on technology originally
developed by the Company for the US Department of Defense, the PRRS
harnesses the power of plasma to provide industry, municipalities
and the defense sector with a comprehensive, all-encompassing
solution to waste management, while producing much-needed clean
energy to meet that growing need. The flexible, versatile PRRS
platform can process virtually any form of waste and generate clean
energy and marketable construction materials, eliminating the need
for landfills. The PRRS is available in capacities ranging from 1
to 100 metric tonnes per day of processing. The client intends to
use the Plasma Waste-to-Energy System to transform MSW into both
energy and chemical products.
“As European legislation concerning high carbon
footprint/emission technologies, such as incineration, continues to
become more restrictive, we are seeing a parallel uptick in
interest in our PRRS and similar systems. This was not the first
request for proposal we had received for similar sized systems from
Europe,” says P. Peter Pascali, President and CEO of PyroGenesis.
“We are extremely confident that we will be able to meet the
requirement set out in the design phase, and moreover we look
forward to successfully completing this project and replicating the
result wherever carbon emissions and landfills are under
pressure.”
About PyroGenesis Canada
Inc.
PyroGenesis Canada Inc., a high-tech company, is
a 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. For more information, please visit: www.pyrogenesis.com.
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 the Company 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 the
Company’s latest annual information form, and in other periodic
filings that the Company has made and may make in the future with
the securities commissions or similar regulatory authorities, all
of which are available under the Company’s profile on SEDAR+ at
www.sedarplus.ca. These factors are not intended to represent a
complete list of the factors that could affect the Company.
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. The Company 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 BDE-mail:
ir@pyrogenesis.com
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