- Aerospace leader Boeing (NYSE:BA) has added PyroGenesis (TSX:PYR), a sustainable industrial solutions provider, to its network of approved suppliers, sending shares soaring in mid-morning trading
- PyroGenesis designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gases and manage waste at attractive economics
- PyroGenesis stock has given back 10.17 per cent year-over-year and 62.94 per cent since 2020
Aerospace leader Boeing (NYSE:BA) has added PyroGenesis (TSX:PYR), a sustainable industrial solutions provider focused on emissions reduction, commodity security and waste remediation, to its network of approved suppliers, sending shares soaring in mid-morning trading.
The company will become Boeing’s go-to supplier when it comes to titanium metal powders, specifically its Ti64-branded product with a particle size within 53-150 microns, which will be put to use in additive manufacturing.
PyroGenesis’ patented plasma atomization process is a lower-cost upgrade to the standard for metal powder development, enabling the company to produce particles of any size with little to no waste.
The news follows accelerated testing with Evonik, a global chemicals manufacturer, towards potential fumed silica production in partnership with HPQ Silicon (TSXV:HPQ).
Leadership insights
“PyroGenesis is proud to achieve official supplier status with Boeing. The high standard of Ti64 metal powder produced at PyroGenesis Additive for Boeing is the result of years of groundbreaking design and engineering work that went into developing our NexGen plasma atomization process,” P. Peter Pascali, president and chief executive officer of PyroGenesis, said in a statement.
“Our stated goal to produce some of the highest-quality metal powders in the additive manufacturing industry required being assessed by the highest-quality client under the toughest standards,” added Massimo Dattilo, vice-president of PyroGenesis Additive. “Having received qualification of our coarse powder, we look forward to serving the needs of Boeing and its parts manufacturing and service centers with metal powder produced by PyroGenesis’ NexGen plasma atomization system.”
About PyroGenesis
PyroGenesis designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gases and manage waste at attractive economics.
PyroGenesis stock (TSX:PYR) is up by 16.48 per cent on the news trading at C$0.53 as of 11:32 am ET. The stock has given back 10.17 per cent year-over-year and 62.94 per cent since 2020.
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