- PyroGenesis Canada Inc. (PYR) has been selected to test its zero-emission plasma torches as part of its mining material recycling process
- The client is an international producer of magnesium metal looking to recycle by-product materials made during its production process
- PyroGenesis will use its method to clean and decontaminate by-product materials
- Next it will process the metal waste stream known as dross to recover valuable metal
- PyroGenesis Canada Inc. (PYR) is up 4.40 per cent and is trading at $1.90 per share as of 1:44 p.m. ET
PyroGenesis Canada (PYR) has been selected to test its zero-emission plasma torches as part of its mining material recycling process.
The company stated the contract is laid out in two parts. Firstly, PyroGenesis will use its torch method to clean and decontaminate by-product materials during magnesium production so that the client to scale operations while decreasing its environmental impact.
The company will conduct internal tests to remove any remaining uncertainties and then complete the final design to use on-site at the client’s facility.
The second initiative is to process a metal waste stream, known as dross, to recover valuable metal. PyroGenesis is confident it will be able to recover high-value metal from dross as it has previous experience in doing so.
According to PyroGenesis, metal recovery from dross is not a widespread practice in the magnesium industry. The company believes its solution has the potential to create a large growth opportunity within the industry.
PyroGenesis has already received a small purchase order for the cleaning and decontamination initiative which it is targeting to finish conceptual testing by its fourth fiscal quarter. The dross recovery initiative is still in the planning stages.
PyroGenesis Canada Inc. (PYR) is up 4.40 per cent and is trading at $1.90 per share as of 1:44 p.m. ET.