- PyroGenesis Canada (PYR) has received a milestone payment from Client B of approximately $1.3 million
- The company has chosen to keep the names of the clients confidential for competitive reasons
- The company also confirms that the earlier-announced trials of its patented plasma torch system for use in iron ore pelletization furnaces, with both Client A and Client B, are ongoing with no change in strategy
- PyroGenesis Canada Inc. is a high-tech company focused on the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG)s
- PyroGenesis Canada Inc. (PYR) opened trading at $1.10 per share
PyroGenesis Canada (PYR) has received a milestone payment from Client B of approximately $1.3 million.
The company has chosen to keep the names of the clients confidential for competitive reasons.
In addition, the company has confirmed that the earlier-announced trials of its patented plasma torch system for use in iron ore pelletization furnaces, with both Client A and Client B, are ongoing with no change in strategy by either PyroGenesis and/or the clients.
“These trials, representing years of research and development, computer modelling, business case development, and factory acceptance testing, have required multi-million-dollar infrastructure expenditures by the clients,” stated P. Peter Pascali, CEO and Chair of PyroGenesis.
“Our goal has always been to help companies, across multiple industries, replace all manner of fossil fuel burners with PyroGenesis’ plasma torch, not just those using fuel oil or bunker fuel, but also natural gas and other fuel types,” he added.
Client A is a multi-billion-dollar international producer of iron ore. Client B is also a multi-billion-dollar international producer of iron ore.
PyroGenesis Canada Inc. is a high-tech company focused on 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 Canada Inc. (PYR) opened trading at $1.10 per share