PyroGenesis announces receipt of second US $378,900 milestone payment

PyroGenesis Canada announces that, further to its press release dated September 12, 2023, it has received the second milestone payment of approximately US $378,900. This payment is associated with the engineering phase, of the plasma torch contract with a U.S. corporation, geared to destroy Perfluoroalkyl and Polyfluoroalkyl Substances. The name of the Client will remain anonymous for confidentiality reasons. The engineering phase is nearing completion representing a key milestone in PyroGenesis’ development of a state-of-the-art plasma torch technology suitable for PFAS removal. PyroGenesis is on track to begin the manufacturing process over the coming weeks. The Company expects to complete the manufacturing phase by the end of the second quarter of 2024. “We are very pleased with the progress to date in developing this new state-of-the-art plasma torch, and look forward to the upcoming completion of the manufacturing phase,” said P. Peter Pascali of PyroGenesis. “The eventual completion of the manufacturing phase will mark an important milestone in PyroGenesis’ stated goal to advance PFAS eradication using state-of-the-art plasma torch technology. Today brings us one step closer to delivering a PyroGenesis based solution that addresses critical environmental challenges, reinforcing our unwavering commitment to sustainable innovation.”