PyroGenesis Canada Inc has announced the signing of joint venture (JV) and license agreements with a leading residue processor to transform dross residues into high-value chemical products, which the company says complements its existing portfolio of green solutions targeting the aluminum industry.
PyroGenesis said the 50:50 JV will be geared towards building, installing and operating dross residue valorization facilities worldwide, which will be applied initially to projects in North America and the Gulf Cooperation Council nations.
“This is a very interesting addition to PyroGenesis’ offerings as it fits perfectly into PyroGenesis’ existing portfolio of waste management services offered to the aluminum industry, at a time when aluminum prices are making our core technology even more valuable,” PyroGenesis Canada CEO Peter Pascali said in a statement.
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“This JV not only solidifies our Drosrite offering, but it is also able to address a downstream problem that is increasingly plaguing the industry; namely, how to handle dross residues which are becoming more and more regulated and banned from landfills,” Pascali added.
PyroGenesis noted the first plant, which will be built after securing a contract to process dross residues, has already been identified within the Gulf Region and discussions to secure and process those residues have already taken place.
It added that this facility is expected to be designed to process about 25,000 tonnes of aluminum dross residues per year and convert these aluminum dross residues into high-margin products with an expected selling price of between US$200 and $450 per tonne.
Residues processed by the JV could potentially unlock a “significant” new revenue stream for PyroGenesis, according to the company.
The DROSRITE system is designed to process and recover metals such as aluminum, zinc and copper from dross, a waste generated in the metallurgical industry.
PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions which reduce greenhouse gases (GHG) and are economically attractive alternatives to conventional 'dirty' processes.
The company has created proprietary, patented and advanced plasma technologies that are being vetted and adopted by multiple multi-billion dollar industry leaders in four massive markets: iron ore pelletization, aluminum, waste management, and additive manufacturing.
Contact Sean at sean@proactiveinvestors.com