- PyroGenesis (PYR) has converted methane into hydrogen using its plasma-based production process
- The company’s zero carbon emission (ZCE) production process also generates a valuable solid carbon useful for car tires, coatings, plastics and batteries
- Management believes its process will be cheaper than existing technologies, potentially becoming a viable, greener alternative in the marketplace
- PyroGenesis Canada focuses on advanced plasma processes and sustainable solutions to reduce greenhouse gases
- PyroGenesis (PYR) is up by 4.96 per cent, trading at $1.27 per share
PyroGenesis (PYR) has converted methane into hydrogen using its plasma-based production process.
The company’s patent-pending ZCE production process converts methane into turquoise hydrogen and a valuable solid carbon useful for car tires, coatings, plastics and batteries.
Hydrogen generated by any methane process driven by heat produced with electricity rather than fossil fuels is typically referred to as turquoise hydrogen.
Methane is a greenhouse gas which is approximately 25 times worse than carbon dioxide in terms of its greenhouse effect.
The conventional method to produce hydrogen, steam methane reforming, releases almost 10 kg of carbon dioxide for every 1 kg of hydrogen produced.
The conventional ZCE method, water electrolysis, is expensive, energy-intensive and requires the use of rare earth metals.
Management believes its ZCE process could potentially become a viable, greener alternative in the marketplace.
According to the World Bank, hydrogen demand reached 87 million metric tons in 2020 and is expected to grow to 500–680 million metric tons by 2050.
Next steps for the company include converting the bench test into a pilot unit to demonstrate production consistency.
“PyroGenesis’ new technology is geared to combine the best of both worlds; it is expected to be cheaper than most existing hydrogen processes while at the same time producing ZCE hydrogen,” stated P. Peter Pascali, CEO and Chair of PyroGenesis.
PyroGenesis Canada focuses on advanced plasma processes and sustainable solutions to reduce greenhouse gases.
PyroGenesis (PYR) is up by 4.96 per cent, trading at $1.27 per share as of 9:33 am ET.