PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) said it has received a project milestone payment of approximately $2.4 million following the successful delivery of four 1-MW plasma torch systems to a major international iron ore producer "Client B" for use in the client’s iron ore pelletization furnaces.
PyroGenesis said the client now has all the major components related to its plasma torch systems on-site at one of their large, integrated iron ore mining and processing locations.
This allows for the installation and trials to proceed at the client’s discretion, expected to be concluded by the end of 2Q 2023.
READ: PyroGenesis says plasma torch systems delivered to client; moves directly to site acceptance testing
The name of the client, a multi-billion-dollar international producer of iron ore who is undertaking the testing of plasma torches to replace fossil fuel burners as part of its iron ore pelletization process, has been kept confidential for competitive reasons, PyroGenesis noted.
PyroGenesis is a leader in the design, development, manufacture, and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases and are economically attractive alternatives to conventional “dirty” processes.
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie