PyroGenesis Canada Inc. (TSX:PYR, NASDAQ:PYR) said it has been engaged by a major international aluminum company to help in decarbonization efforts by using its plasma torches as a heating source in cast house furnaces.
The client is one of the largest aluminum companies worldwide, active across multiple continents, according to PyroGenesis, which added that for competitive reasons, the client's name is being kept confidential.
Montreal-based PyroGenesis said it is under contract to perform a computational fluid dynamics study to gather data and evaluate plasma for use in a production-scale furnace to be installed at one of the client's sites, adding the study is well underway.
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PyroGenesis CEO P. Peter Pascali noted that this agreement is a major step, as this client has almost unparalleled standing in the global aluminum industry.
"Few companies within the sector have such a positive and progressive reputation for driving the industry forward with new and better approaches. We are proud to be under consideration as part of their global strategy to help with their decarbonization efforts,” Pascali said in a statement.
“This is one of many companies that we are working with who have publicly acknowledged a need to reduce emissions and are constantly working to develop aluminum alloys with a low carbon footprint,” he added.
Pascali went on to say that PyroGenesis’ plasma torches, which are powered with electricity, are one of the client’s options under evaluation to replace carbon-emitting natural gas burners in its furnaces.
“All this to say that PyroGenesis' torch offerings are being considered by more and more sophisticated players, as a fuel-switching solution to their environmental issues, and this we can be very proud of," Pascali said.
PyroGenesis Canada is a leader in the design, development, manufacture and commercialization of advanced plasma processes and sustainable solutions that reduce greenhouse gases, and are economically attractive alternatives to conventional "dirty" processes.
Contact the author at susie@proactiveinvestors.com