- Industrial tech developer PyroGenesis (PYR) is leaving Toronto’s venture exchange behind, as an impressive year’s trading pushes it onto the TSX
- The company received approval to move onto TSX from the regulators earlier this week, and graduating shares expected to begin trading at open of Friday
- The news follows an impressive year on the TSXV, which saw PyroGenesis shares rise a staggering 700 per cent since January
- Much of the recent investor interest has been fuelled by the company’s advances in plasma technology, which aims to reduce greenhouse gas emissions from traditional iron ore pelletisation processes
- PyroGenesis is up 10.37 per cent and is trading at C$3.83 per share
Industrial tech developer PyroGenesis (PYR) is leaving Toronto’s venture exchange behind, as an impressive year’s trading pushes it onto the TSX.
The company received approval to move onto TSX from the regulatory body earlier this week, with graduating shares expected to begin trading at open of Friday.
CEO and Chair of PyroGenesis Peter Pascali said it was a pleasure to announce the up-listing to Canada’s most senior exchange.
“We are very pleased to announce this significant achievement for PyroGenesis that confirms our development and growth as a company. I want to take this opportunity to thank the team at PyroGenesis, as well as the professionals who guided us; particularly our legal advisors,” he added.
With its departure from TSXV imminent, Peter took the time to thank the venture exchange for providing a platform that has allowed PyroGenesis to blossom this year.
And blossom it has, with PyroGenesis shares rising a staggering 700 per cent since the start of the year. Much of the recent investor interest has been fuelled by the company’s advances in plasma technology, which looks to revolutionise the greenhouse gas output in traditional iron ore pelletisation.
This new tech, when coupled with a recent C$11.5 million contract with the U.S. Navy, has made PyroGenesis a surprise winner this year among investors.
Peter attributed much of the recent success to his team, which he expects to continue on after the new listing takes effect on Friday.
“The PyroGenesis team, technologies, as well as the solid base of business, and business relationships we have developed, while on the TSXV, are well suited for this graduation,” he added.
PyroGenesis is up 10.37 per cent and is trading at $3.83 per share at 12:29pm EST.