- PyroGenesis (PYR) will provide its SPARC waste destruction system to a materials and chemicals supplier
- The client is a major supplier throughout the southern hemisphere with over half a century of experience
- The US$2-5 million system, the first of two the client may acquire, will deliver carbon-free destruction of ozone-depleting refrigerants at the client’s new facility
- PyroGenesis Canada focuses on advanced plasma processes and sustainable solutions to reduce greenhouse gases
- PyroGenesis (PYR) is down 2.46 per cent, trading at $1.98 per share
PyroGenesis (PYR) will provide its SPARC waste destruction system to a materials and chemicals supplier.
The client is a major supplier throughout the southern hemisphere with over half a century of experience in logistics, storage and handling of materials across a range of applications and industries.
PyroGenesis’ electric SPARC system uses steam as a plasma-forming gas to generate a hydrolysis reaction which destroys refrigerants, CFCs, HCFCs, HFCs, Halons and PFCs. This results in cleaner operations with no incineration and significantly reduced operating costs versus more expensive gases.
The system, the first of two the client may acquire, will deliver carbon-free destruction of ozone-depleting refrigerants at the client’s new facility.
Revenue will total US$2-5 million per system, with a final agreement expected to be signed before the end of Q2 2023.
The project has an approximate production-to-delivery timeline of 18 months from the final contract signing.
“Jurisdictions worldwide are tightening regulations surrounding hazardous waste disposal while at the same time trying to stimulate the safe destruction of hydrocarbons such as refrigerant chlorofluorocarbons by providing carbon credits to offset costs. This announcement today underscores the fact that companies are increasingly recognizing the major role that PyroGenesis’ fossil-free waste destruction systems can play in this movement,” 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 down 2.46 per cent, trading at $1.98 per share.