PyroGenesis signs $4.1M contract for 4.5MW plasma torch system

PyroGenesis Canada and a Deloitte Canada Clean Technology Fast 50 announces the receipt of a contract valued at approximately $3.13 from a U.S. corporation. The name of the Client will remain anonymous for confidentiality reasons. The Client has extensive experience as an innovation hub, providing technology and test services to solve critical defense, military, and aeronautics challenges. The contract is for a 4.5 MW plasma torch system and includes a 20% upfront payment plus an additional 15% payment once the initial technical drawings are delivered, which is expected to be completed in approximately one month. Due to confidentiality requirements, the specific purpose and application of PyroGenesis’ proprietary plasma torch system delivered under this agreement cannot be disclosed. “The Company’s development of plasma torches for use in high temperature applications is part of the Company’s three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches as a high and ultra-high temperature application are part of the Company’s Energy Transition & Emissions Reduction tier, where fuel switching to the Company’s electric-powered plasma torches helps heavy industry reduce fossil fuel use and greenhouse gas emissions,” said P. Peter Pascali, CEO and President of PyroGenesis.