- PyroGenesis (TSX:PYR) signed a contract with one of the world’s largest battery recycling companies to test its plasma torches to reduce emissions during the client’s materials recovery and new lithium-ion battery production processes
- PyroGenesis is a plasma technology company specializing in advanced engineering solutions across heavy industry and defense
- PyroGenesis stock has given back 40.68 per cent year-over-year and 90.11 per cent since 2020
PyroGenesis (TSX:PYR) signed a contract with one of the world’s largest battery recycling companies to test its plasma torches to reduce emissions during the client’s materials recovery and new lithium-ion battery production processes.
This content has been prepared as part of a partnership with PyroGenesis Inc. and is intended for informational purposes only. The author owns shares in the company, but has not been paid by PyroGenesis Inc. or any third party for this article.
While the client’s name and total project value were not disclosed “for competitive and confidentiality reasons,” according to Thursday’s news release, the deal lays the groundwork for a global player to replace fossil fuels with PyroGenesis’ electric torches and more sustainably recover cathode and anode materials from end-of-life batteries, including nickel, cobalt, copper and lithium, effectively granting them a second life.
Testing will run between Q4 2025 to Q1 2026 with eyes on capitalizing on rising demand for lithium-ion batteries, which is forecasted to growth from 900 kilotons in 2025 to 20,500 kilotons by 2040, representing a staggering 25 per cent annual growth rate.
The news marks PyroGenesis’ fourth deal announced this month, including titanium metal powder contracts with a global aerospace company and US additive manufacturer, as well as a C$1.3 million energy transition contract with a European cement company, sending the stock soaring by more than 84 per cent since December 3rd.
Management commentary
“As the use of lithium-ion batteries increases, and as the previous generation of electric vehicle batteries begin to reach their end of life, it is imperative that closed-loop remediation systems that can recover viable minerals to produce new battery material become more widely utilized,” P. Peter Pascali, president and chief executive officer of PyroGenesis, said in a statement. “Companies like our client, who are using advanced technology while placing emphasis on all-electric processes – including those that may benefit from PyroGenesis’ plasma – will help battery and vehicle manufacturers shield themselves against volatile raw material pricing and critical mineral access while reducing carbon footprint and improving efficiency. We are excited by the possibility of PyroGenesis playing a role in the future of battery and critical mineral recycling.”
About PyroGenesis
PyroGenesis is a plasma technology company specializing in advanced engineering solutions to energy, propulsion, waste destruction, process heating, emissions and materials development challenges across heavy industry and defense.
PyroGenesis stock (TSX:PYR) last traded at C$0.35, giving back 40.68 per cent year-over-year and 90.11 per cent since 2020.
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