Pyrogenesis Stock Price, News & Analysis

Pyro Green-Gas, a subsidiary of PyroGenesis Canada, has signed contracts worth $1.3 million with a major Indian steel company to desulphurize coke oven gas, converting it into reusable hydrogen. The unnamed client, with revenues exceeding $20 billion in 2023, is the second billion-dollar client for Pyro Green-Gas in India. This contract aligns with PyroGenesis' focus on reducing greenhouse gas emissions in heavy industries, particularly steelmaking, which accounts for 7-10% of global GHG emissions. The deal was anticipated in PyroGenesis' Q1 2024 financial outlook.

PyroGenesis Canada announces the receipt of $1.5 million as a settlement in legal proceedings involving its subsidiary, Pyro Green-Gas Inc., and Gas RNG Systems.

The settlement, concluded on a no-fault basis, results in the payment of US$1.1 million (approximately CAN$1.5 million) to Pyro Green-Gas Inc. and related parties, with all parties providing full and final releases. Details of the legal proceedings are available in the company’s annual information form.

PyroGenesis has announced its Q1 2024 financial and operational results, revealing a revenue increase of 34.5% year-over-year, reaching $3.5 million. The company's backlog of signed and awarded contracts stands at $28.1 million. Key projects include the fumed silica reactor project for HPQ Silicon and several new contracts across industries like green cement, steelmaking, and aerospace. The company recorded an EPS loss of $0.02 and a margin of 21.7%. Subsequent to the quarter end, PyroGenesis signed a letter of intent with Constellium for plasma remelting furnaces and secured contracts with a top global steelmaker and major manufacturers in mining, defense, and aerospace. Despite some financial losses, the company shows strong revenue growth and a solid backlog of projects, positioning itself as a leader in heavy industry decarbonization technologies.

PyroGenesis Canada Inc. has scheduled a conference call on May 15, 2024, to discuss its financial results for the first quarter of 2024 and provide updates on progress and developments. The Company specializes in advanced plasma processes and sustainable solutions to reduce greenhouse gases and address environmental pollutants.

PyroGenesis announced that 28-day lab strength tests for their green cement additive product, PozPyro, achieved up to 99.56% above the compressive strength target. The product outperformed traditional alternatives like fly ash, showing superior strength and workability. By transforming quartz silica through a plasma-based process, PyroGenesis aims to offer a sustainable solution that reduces CO2 emissions in cement production. The results indicate the potential for PozPyro to revolutionize the cement industry by providing a more environmentally friendly and efficient alternative.

PyroGenesis Canada Inc. announces a new contract to supply titanium metal powder to a Spanish aerospace entity for additive manufacturing. The agreement marks the launch of the company's European distribution strategy, following the end of a distribution agreement with Aubert & Duval. PyroGenesis' NexGen™ plasma atomization system produces high-quality titanium powder for various additive manufacturing applications, reducing costs and increasing direct sales to European clients.