FYI.... PyroGenesis Canada (PYR.TO) on Wednesday said it received C$0.63 million in federal funding to support its venture with HPQ Silicon Resources (HPQ.V) to build a plasma-based reactor to convert quartz to fumed silica.
The company said the funds were funds were the final tranche of financing from one of two government agencies supporting the project.
"We are pleased to receive this final tranche of funding from a second government agency which further solidifies and validates the importance of this project to various government agencies. This process, if successful, will create an alternative solution that would eliminate the toxic by-products of legacy systems while reducing GHG emissions by approximately 90%," chief executive Peter Pascali said in a release.
Fumed silica is used for batteries as well as industrial and pharmaceutical products.
PyroGenesis shares were last seen down C$0.07 to C$5.19 on the Toronto Stock Exchange.