- PyroGenesis Canada Inc. (PYR) announces that an acceptance test of its plasma torches with Client A has been scheduled for February 2022
- The plasma torches reduce emissions by replacing ‘dirty’ fossil fuel burners with clean plasma torches in iron ore pelletization
- The factory acceptance test is scheduled to be conducted during the first two weeks of February
- Client A is one of the largest multi-billion-dollar international producer of iron ore pellets, whose name remains confidential for competitive reasons
- The client has committed to reduce its greenhouse gas emissions at its plants, each requiring up to 50 plasma torches at more ten plants
- PyroGenesis Canada Inc. (PYR) is up 14.76 per cent trading at $3.11 per share as of 4:24 p.m. EST
PyroGenesis Canada (PYR) announced that a factory acceptance test for the use of its plasma torches in iron ore pelletization has been scheduled.
The factory acceptance test is scheduled to be conducted with “Client A” during the first two weeks of February.
“Client A” is one of the largest multi-billion-dollar international producers of iron ore pellets, whose identity remains confidential for competitive reasons.
The client is committed to reducing its greenhouse gas emissions at its plants, each requiring up to 50 plasma torches at more than ten plants.
The plasma torches reduce emissions by replacing ‘dirty’ fossil fuel burners with clean plasma torches in iron ore pelletization.
PyroGenesis has created a proprietary, patented and advanced plasma technologies that are being adopted by several multibillion-dollar industry leaders in the iron ore pelletization, aluminum, waste management, and additive manufacturing industries.
The company estimates that the potential addressable market is over $10 billion.
This number is based on the assumption of a one-to-one replacement of fossil fuel burners with an estimated ten thousand 1MW plasma torches.
P. Peter Pascali, CEO of PyroGenesis, commented,
“This progress speaks volumes with respect to our expertise in understanding the unique requirements of multi-billion-dollar clients, and the dedication we have to ensure ultimate success.”
PyroGenesis Canada Inc. designs, develops, manufactures, and commercializes advanced plasma processes and sustainable solutions.
PyroGenesis Canada Inc. (PYR) is up 14.76 per cent trading at $3.11 per share as of 4:24 p.m. EST.