- PyroGenesis (PYR) has entered a joint venture to convert aluminum dross residue into chemical products
- The 50/50 agreement, with a leading residue processor, will see the company build and operate dross residue valorization facilities worldwide
- The first plant, within the Gulf region, is expected to convert 25,000 tonnes of aluminum dross per year to be resold between US$200 and US$450 per tonne
- PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma products and processes
- PyroGenesis (PYR) closed up by 4.17 per cent trading at $5.25 per share
PyroGenesis (PYR) has entered a joint venture to convert aluminum dross residue into chemical products.
The 50/50 agreement, with a leading residue processor, will see the company build and operate dross residue valorization facilities worldwide.
Aluminum dross is typically comprised of aluminum metal (60 per cent) and aluminum oxides (40 per cent). PyroGenesis’ Drosrite system can recover up to 98 per cent of the aluminum metal, while the aluminum oxides (dross residue) are often landfilled or sold as a cheap additive.
PyroGenesis has secured an exclusive license to a technology expected to convert dross residue into high-value chemical products.
Access to the technology initially applies to projects in North America and the Gulf Cooperation Council nations. Upon successful completion of the first project, access will expand to include the majority of the world.
The first plant, within the Gulf region, is expected to convert 25,000 tonnes of aluminum dross residue per year into chemicals – like aluminum sulfate and ammonium sulfate – to be sold between US$200 and US$450 per tonne.
P. Peter Pascali, CEO and Chair of PyroGenesis, stated,
“This JV not only solidifies our Drosrite offering, but it is also able to address a downstream problem that is increasingly plaguing the industry; namely, how to handle dross residues which are becoming more and more regulated and banned from landfills.
This is the ultimate coffee & donut strategy where, with very little additional effort, we are able to sell, alongside Drosrite, a separate compelling green solution, which also further secures Drosrite’s commercial competitiveness.”
PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma products and processes.
PyroGenesis (PYR) closed up by 4.17 per cent trading at $5.25 per share.
