Total funding of $ 5.3 million
MONTREAL, Sep 08, 2021 (GLOBE NEWSWIRE) – PyroGenesis Canada Inc. (http://pyrogenesis.com) (NASDAQ: PYR) (TSX: PYR) (FRA: 8PY), a high technology company (hereafter referred to as the “Company” or “PyroGenesis”), which designs, develops, manufactures and markets advanced plasma processes and sustainable solutions to reduce greenhouse gases, is pleased to confirm today that, further to its press releases dated May 27e and July 6e, 2021, it has now received $ 630,000 in additional funding from a second government agency, for a total project value of approximately $ 5.3 million (including the sale of intellectual property of $ 3.3 million), all to be received by the Company.
As previously stated, PyroGenesis, in partnership with HPQ Silica Polvere Inc. (“HPQ Polvere”), a wholly owned subsidiary of HPQ Silicon Resources Inc. (“HPQ”), was responsible for the design, development and manufacture of business opportunities. downstream by converting quartz to fumed silica, using a new one-step plasma reactor. This process is designed to enable the reduction of hazardous waste and greenhouse gas (“GHG”) emissions compared to traditional processes. As part of the partnership agreement, PyroGenesis also benefits from (i) a 10% royalty (“Royalty”) on future sales of HPQ Polvere (with fixed minimums never to exceed 100% of revenues), and (ii) the ability to convert this royalty at any time into a 50% stake in HPQ Polvere.
Fumed silica is a powder of white microstructure with a high specific surface area and low bulk density. Its commercial applications are applicable in many industries including, but not limited to personal care, pharmaceuticals, agriculture (food and feed), adhesives, sealants, construction, batteries and the automobile. Demand for fumed silica is growing at a CAGR of 5.5%, with an addressable global market of US $ 1.6 million in 2020 expected to reach US $ 2.3 billion in 20271.
“We are delighted to receive this latest installment of funding from a second government agency, which further reinforces and validates the importance of this project to various government agencies. This process, if successful, will create an alternative solution that would remove toxic by-products from existing systems while reducing GHG emissions by approximately 90%, ”said MP Peter Pascali, CEO and President of PyroGenesis. “The work has already started and we look forward to providing further updates on our progress. “
About HPQ Silicium
HPQ Silicon Resources Inc. (TSX-V: HPQ) (OTCQX: HPQFF) (FWB: UGE), is a Canadian producer of innovative silicon solutions, based in Montreal, building a portfolio of unique high-value specialty silicon products. In collaboration with PyroGenesis, HPQ develops:
PUREVAP ™ “quartz reduction reactors” (QRR), an innovative process (patent pending), which will allow the transformation in one step of quartz (SiO2) into high purity silicon (Si) at a cost, an energy input and a reduced carbon footprint that will propagate its considerable renewable energy potential.
The PUREVAP ™ Nanosilicon Reactor (NSiR), a new proprietary process that can use different purities of silicon (Si) as raw material, to manufacture spherical silicon powders and nanowires; HPQ is also working with industry leader Apollon Solar of France to use their patented process and develop commercial production capacity for porous silicon (Si) wafers and porous silicon (Si) powders.
A new plasma-based process that will allow direct conversion of quartz to fumed silica, eliminating the use of hazardous chemicals in the production of fumed silica and eliminating the hydrogen chloride (HCI) gas associated with its manufacture.
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and marketing of advanced plasma processes and sustainable solutions that reduce greenhouse gases (GHGs) and constitute economically interesting alternatives to conventional “dirty” processes. PyroGenesis has created proprietary, patented and advanced plasma technologies that are reviewed and adopted by several multi-billion dollar industry leaders in four massive markets: iron ore granulation, aluminum, waste management and additive manufacturing. With a team of experienced engineers, scientists and technicians working from its Montreal office and its 3,800 m2 and 2,940 m2 manufacturing facilities, PyroGenesis maintains its competitive edge by staying at the forefront of the industry. technology development and commercialization. Operations are ISO 9001: 2015 and AS9100D certified, having been ISO certified since 1997. For more information, please visit: www.pyrogenesis.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “have l ‘intention’, ‘expect’, ‘pending’ and other similar expressions that constitute ‘forward-looking information’ within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties, including, but not limited to our expectations regarding market acceptance of our products, our strategy for developing new products and improving the capabilities of existing products, our strategy in research and development, the impact of competitive products and prices, the development of new products and the uncertainties associated with the regulatory approval process. These statements reflect the Company’s current views with respect to future events and are subject to certain risks and uncertainties as well as other risks detailed from time to time in the Company’s pending files with the relevant authorities. securities, which documents can be viewed at www.sedar.com, or to www.sec.gov. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company assumes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by applicable securities laws. Neither the Toronto Stock Exchange nor its regulatory services provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the NASDAQ Stock Market, LLC accept responsibility for the adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.
For more information, please contact:
Rodayna Kafal, Vice-President Investor Relations and Strategic Business Development
Phone: (514) 937-0002, Email: email@example.com
RELATED LINK: http: //www.pyrogenèse.com/
1 Fumed Silica Market Size, By Product (Hydrophilic, Hydrophobic), By Application (Pharmaceutical, Beauty & Personal Care, Silicone Elastomers, Paints, Coatings & Inks, UPR, Adhesives & Sealants, Food & Beverage) Report Industry Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share and Forecast, 2021-2027, Release Date: Mar 2021, Report ID: GMI4388 | Authors: Kiran Pulidindi, Akshay Prakash