- PyroGenesis Canada (TSX:PYR) has signed a collaboration agreement with one of the world’s largest aluminum transformation and recycling companies
- The company is working with Constellium to develop plasma torches and associated processes as suitable heating sources for aluminum remelting furnaces
- PyroGenesis hosted and worked with the scientific team from Constellium during the plasma test campaign over the past several quarters.
- PyroGenesis stock opened trading at $0.42 per share
PyroGenesis Canada (TSX:PYR) has signed a collaboration agreement with one of the world’s largest aluminum transformation and recycling companies.
The Montreal-based high-tech company is working with Constellium to develop plasma torches and associated processes as suitable heating sources for aluminum remelting furnaces. The two will implement an industrial-scale aluminum remelting furnace, which would serve Constellium’s decarbonization strategy.
The project will consist of two phases:
- Conducting feasibility studies and engineering
- Implementing a demonstrator plasma-heated furnace system in one of Constellium’s aluminum casthouses
PyroGenesis hosted and worked with the scientific team from Constellium during the plasma test campaign over the past several quarters.
“The results from this campaign have led to today’s agreement to move forward with a planned scale-up to a full-size furnace at one of Constellium’s casthouses,” P. Peter Pascali, president and chief executive officer of PyroGenesis, said in a statement. “PyroGenesis is quickly becoming the go-to plasma solution company for key players in heavy industry as they seek solutions to meet their global decarbonization strategies. Constellium is one of the best examples of a global industry leader who is evaluating PyroGenesis’ electric plasma torches as a fuel-switching possibility. We expect that with the energy transition trend only getting started, that others will follow the lead of influential and respected companies like Constellium.”
“As part of our decarbonization roadmap, Constellium has been evaluating various solutions to support the decarbonization efforts within our aluminium cast houses,” Constellium’s senior VP manufacturing excellence and chief technical officer, Ludovic Piquier, added. “Our technical experts, hand in hand with their PyroGenesis peers, were able to demonstrate the highly promising potential of plasma torch applications in our cast house furnaces. This fruitful collaboration has paved the way for our next phase of partnership as we transition to a significantly larger furnace and facility.”
This plasma torch development for use in high temperature furnaces is part of the PyroGenesis’ three-tiered solution ecosystem in nano silicon production to capitalize on the economic drivers of heavy industry, specifically the commodity security and optimization tier, which focuses on enhancing the recovery and production of critical materials.
Data from Grand View Research revealed that the global silicon market was valued at US$21.33 billion in 2023, and will grow at a compound annual growth rate of 6 per cent through 2030, thanks to the material’s varied use-cases across personal care, construction, consumer goods and industrial processes.
PyroGenesis Canada develops advanced plasma processes and sustainable solutions that reduce greenhouse gases. The company’s plasma-torch technologies are being evaluated by numerous multi-billion-dollar industry leaders across iron ore pelletization, aluminum, waste management and additive manufacturing.
PyroGenesis stock (TSX:PYR) opened trading more than 2 per cent higher at $0.42 per share. The stock has given back nearly 62 per cent year-over-year and more than 33 per cent in the past five years.
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