| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX:PYR) (NASDAQ:PYR) (FRA: 8PY), a high-tech company, a TSX30® and a Deloitte Technology Fast 50™ high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG), is pleased to announce that the Company, through Pyro Green-Gas, a wholly owned subsidiary of PyroGenesis, has signed a contract (the “Contract”) with a North American lithium-ion battery recycler (the “Client”) for the delivery of a system to decontaminate the dust generated during the battery recycling process. The value of the Contract must remain confidential, but the Company can confirm that it is it is over $500,000 and under $1 million.
Under the scope of this Contract, the Company has been engaged to design and fabricate a system with a volume capacity of up to 4000 Nm3/h. This represents the combined exhaust from (i) shredding battery materials, and (ii) handling and transfer via pneumatic conveying of the powdered and granular materials resulting from the Client’s proprietary process.
The efficiency and compact design of the system proposed by Pyro Green-Gas is expected to provide highly effective destruction of airborne contaminants with minimal energy use, resulting in reduced operating costs and environmental impact for the Client. With the acceleration of the energy transition in the automotive sector, technologies for abatement of atmospheric pollutants are key to lowering greenhouse gas emissions.
“This Agreement is an example of yet another industry requiring factory-ready technology solutions that fit within the decarbonization and energy transition value chains,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “With the growth of the electric vehicle (“EV”) market, and the resulting demands on battery producers to find closed-loop solutions to battery production and commodity recovery, we are pleased to showcase, in this Contract, the engineering and emission-reduction expertise of Pyro Green-Gas to battery recyclers, producers and the EV industry as a whole. The advantages of PyroGenesis’ solution, combined with a competitive cost and rapid execution were key to securing the bid. Delivery of this Contract is expected in June 2023.”
The Client, whose name will remain confidential for competitive reasons, has a unique process that rescues the highest percentage of scarce minerals and strategic materials – such as cobalt, lithium, and manganese – from disassembled lithium-ion batteries, while mitigating hazardous chemicals and heavy metals, for industry-leading sustainability.
