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- PyroGenesis (PYR) will provide a C$9.2 million system to destroy perfluoroalkyl and polyfluoroalkyl substances (PFAs)
- PFAs are man-made chemicals used in aerospace, automotive and construction
- The chemicals may interfere with hormones, increase cholesterol levels, affect the immune system and increase the risk of cancer
- The company’s client is a large operator of public water systems whose name is being kept confidential to avoid competition
- The pilot system will be ready in six months while the full system’s timeline will be determined based on phase one results
- PyroGenesis Canada designs, develops, manufactures and commercializes sustainable plasma processes and solutions
- PyroGenesis (PYR) is up by 8.58 per cent and is currently trading at $4.81 per share
PyroGenesis (PYR) will provide a C$9.2 million system to destroy perfluoroalkyl and polyfluoroalkyl substances (PFAs).
Its client is a large operator of public water systems whose name is being kept confidential to avoid competition.
The company will provide its plasma-based thermal process equipment for the two-phase project. The first phase will provide pilot testing, while the second is geared toward full fabrication, furbishing and commissioning of a commercial land-based system.
The pilot system will be ready in six months while the full system’s timeline will be determined based on phase one results.
PFAs are man-made chemicals used in aerospace, automotive and construction, among other industries. Products that may contain PFAs include non-stick cookware, stain-resistant coatings, water-resistant clothing, cleaning products, personal care and cosmetics products and any other product that resists grease, water and oil.
The substances are persistent pollutants that affect humans and wildlife but are either not regulated or only recently starting to be regulated.
According to The Agency for Toxic Substances and Disease Registry, studies have shown that PFA exposure may interfere with hormones, increase cholesterol levels, affect the immune system and increase the risk of cancer.
A report from the Centers for Disease Control and Prevention’s National Health and Nutrition Examination Survey indicates that PFAs are found in the blood of 97-per-cent of Americans.
P. Peter Pascali, CEO and Chair of PyroGenesis, stated,
“PFAs are obviously a waste stream that has to be addressed, and in short order. As such, we are extremely proud to have been selected, in a highly competitive bidding process, to provide our proprietary plasma-based environmental solution to this significant problem facing the world.
The significance of this announcement goes far beyond the announcement itself, as it represents our first commercial land-based system sold outside of the military and has opened up a significant opportunity for our land-based offerings within this segment. Outside the needs of our current client there are many companies facing the same challenge and we fully expect to be providing similar solutions to these entities as well.”