PyroGenesis Canada Inc. (TSX:PYR, OTCQX:PYRGF) has provided answers to investors’ questions submitted in advance of or in response to its Annual General Meeting (AGM) held on June 27, 2024.
PyroGenesis CEO P. Peter Pascali provided answers to eight investor questions in a statement.
Regarding the five-ton order of titanium metal powder announced in May 2023, the project is ongoing with a revised delivery schedule, and production continues successfully, the CEO said.
“The powder is being successfully produced and delivered on an ongoing basis,” Pascali said.
The Plasma Resource Recovery System (PRRS) project, initially valued at $25 to $30 million, has expanded significantly and is now being negotiated at $115 million to $160 million.
Pascali explained that PyroGenesis’ PRRS system is designed to process municipal solid waste (MSW), industrial waste, and hazardous waste, transforming such into commercially valuable products.
"These products include gaseous fuel for electricity and heat generation, slag, aggregates suitable for construction, and recoverable metals for recycling," he said.
Additionally, the CEO flagged that the company is in the final phase of changing its name, with an announcement expected soon.
The SPARC waste destruction system project for a New Zealand client is progressing well, though facility construction delays on the client’s end have pushed the expected delivery to early 2025.
"SPARC can effectively destroy a variety of hazardous refrigerants including CFCs, HCFCs, HFCs, halons and PFCs," Pascali highlighted.
In terms of plasma torch advancements, PyroGenesis is negotiating with a North American entity for a high-power plasma torch system (15-25MW) with a potential contract value of $15 to $25 million.
Pyro Green-Gas, the company's gas purification subsidiary, has signed nearly $4 million in new projects and is negotiating a biogas production contract worth approximately $2 million, among other projects in negotiation.
Additionally, Pascali clarified that negotiations continue with a client, a US-based technology firm, for a project valued at over $10 million, which involved a non-refundable down payment.
The client is securing financing, and interim studies/purchases are being considered, he said.
Finally, the PozPyro cement additive project, which is developing a process to convert quartz silica into a green cement additive material, has shown “extremely positive” lab results, and the client is raising funds for a pilot plant.
Pascali’s full responses to the investors’ questions can be found here.