RE:New article on website Les Affaires! This article tells us a bit more about its AST acquisition.
PyroGenesis will also enter renewable gas with the purchase of Montreal-based AirScience Technologies (AST) for $4.8 million. AST manufactures systems to recover biomethane, generated by organic waste in dumps and farms. "This gas is converted into electricity or heat, but AST is developing a process to make hydrogen, which has a greater value," Pascali says. And regarding plasma torches, he also cites that steel mills could install the torches themselves, ending up selling more torches:
For the pelletlization of iron ore, he hopes to convince the steel industry to abandon diesel for burners, in order to replace them with plasma torches, less polluting.
"We have a patent. The furnace only needs adjustments to make the change, says Peter Pascali. It is a potential global market of ten billion dollars. And we are the only ones to do so. It's really big for Quebec." "It's easy to install," he adds. The steel mills could do it themselves, because they have a lot of engineering expertise. We would only have to send them the equipment with instructions and they would do the installation themselves. You could easily make big orders."
It notes that its technology could also be used in the cement, glass and plastic industry. The executive mentions that most of its product lines do not depend on government incentives, such as tax credits or environmental subsidies, to be viable.
PyroGenesis is also working with aluminum smelters to upgrade aluminum grime. On June 7, it announced a letter of intent for the sale of three waste recovery systems to an existing customer. If it goes ahead, this contract will be worth between $10 million and $15 million.