- PyroGenesis Canada (TSX:PYR), a technology provider focused on decarbonizing heavy industry, has secured C$2.5 million in new contracts at the Varennes Carbon Recycling plant, a C$1.2 billion biofuel project under construction in Quebec
- Subsidiary Pyro Green-Gas will oversee the engineering, design and fabrication of a thermal swing adsorption system for the dehydration of pure oxygen produced from electrolyzers at the plant
- PyroGenesis offers advanced plasma processes and sustainable solutions that reduce greenhouse gases
- PyroGenesis stock has given back 43.56 per cent year-over-year, but has gained 3.64 per cent since 2019
PyroGenesis Canada (TSX:PYR), a technology provider focused on decarbonizing heavy industry, has secured C$2.5 million in new contracts at the Varennes Carbon Recycling plant, a C$1.2 billion biofuel project under construction in Quebec.
The company’s subsidiary, Pyro Green-Gas, will oversee the engineering, design and fabrication of a thermal swing adsorption system for the dehydration of pure oxygen produced from electrolyzers at the plant. Pyro Green-Gas expects to deliver on the contracts by Q4 2024.
The Varennes project is managed by high-profile partners, including Shell, Suncor, Proman and Enerkem, and will be Canada’s largest biorefinery, capable of converting 200,000 tonnes of non-recyclable waste and biomass into 125 million liters of marketable chemicals and value-added biofuels, including methanol. The plant will also be powered by clean electricity and benefit from renewable green hydrogen and oxygen produced onsite by one of the world’s largest electrolyzers, resulting in a combined emissions reduction of about 50,000 passenger vehicles per year.
Leadership insights
“This announcement highlights our continued commitment to providing sustainable technology solutions that improve the environment by controlling and eliminating hazardous air pollutants and greenhouse gases,” P. Peter Pascali, PyroGenesis’ president and chief executive officer, said in a statement. “Pyro Green-Gas’ technologies such as thermal swing adsorption and pressure swing adsorption are employed to safely capture and recover CO2 and other greenhouse gas emissions. This is crucial to projects like the Varennes project, which itself has a stated goal of cutting more than 170,000 tonnes of greenhouse gas emissions annually and 4.25 million tonnes over the project’s 25-year lifespan. This is equivalent to taking 50,000 passenger vehicles off the road, and we look forward to potentially increasing our role as the project evolves.”
About Pyro Green-Gas, formerly known as AirScience Technologies
Pyro Green-Gas is a specialist in biogas upgrading and air pollution controls, including designing and building gas upgrading systems to convert biogas to renewable natural gas, pyrolysis-gas purification, biogas and landfill-gas flares and thermal oxidizers, and the purification of coke-oven gas into high-purity hydrogen.
About PyroGenesis Canada
PyroGenesis offers advanced plasma processes and sustainable solutions that reduce greenhouse gases. The company’s proprietary plasma technologies are being vetted and adopted by multi-billion-dollar industry leaders in iron ore pelletization, aluminum, waste management and additive manufacturing.
PyroGenesis stock (TSX:PYR) last traded at C$0.57 per share. The stock has given back 43.56 per cent year-over-year, but has gained 3.64 per cent since 2019.
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(Top photo of the Varennes Carbon Recycling plant in June 2023: Varennes Carbon Recycling)
