PyroGenesis Inc T.PYR

A good post rom tthe CEO site

[HARJAY]

We had a discussion on this board over a year ago where I was explaining why PYR is R&D when someone was yelling at me its commercialized not R&D!!!! Even back then, you can tell by what I wrote, that is why I am not shocked about the delays and timelines, especially when you add COVID into the mix. Some here have accused me of pumping, but if you go back and read.. I have always held the same opinion as it relates to what theyre doing and how long it may take to manifest. COVID disrupted the world in a unexpected way, so you simply cannot ignore that was also a factor. As @exeat said they will always be R&D, I mean that is literally in their company profile description at the bottom of every PR, but that is from a sense of "the company is a R&D company. BUT each business/technology line, can have its own designation within the company.. You can say the tunneling is R&D. HPQ is mostly R&D. PFAS is mostly R&D. PYRGreenGas is probably 50/50 R&D and commercialized. Drosrite was R&D, transitioned to commercial scale, but then developments were made after being 'inside the fence' that sent that technology back into the R&D category. They are negotiating with primary and secondary aluminum smelters for those larger contracts that everyone is asking about/waiting for. When they complete their R&D fine-tuning and address the new opportunities they observe from being inside the fence, then they will again commercialize that business line and technology. But for drossrite you can say definitively it has been real world tested, chosen by competitive bid, and the customer wants more but they're figuring out the logistics etc. The US navy waste destruction technology is commercialized, but I think if you lump in land based waste destruction, you can confidently say that waste destruction is R&D as a whole. Ti Powders! We all are excited about that. Powders have been R&D for a very long time, with multiple commercialization milestones being checked off slowly. We are now at the cusp of full commercialization. This is where it is going to be fun (final sample send out being the last step, and we are there). Last but not least, Iron ore torches. Torches are definitely still firmly in the R&D category, because simply using the sample size, its not scientifically correct to say there is enough real world application to provide statistically sound data analysis. 1 torch here and there, with different clients, all citing successful metrics when used. However! Each of these clients has a massive need for torches, and therefore, they are getting their own specific R&D process, tuned to their infrastructure... and that takes time and logistics. They are continuing this process, because the computer modeling was successful, and the initial torch FAT and on-site working conditions, so they expect to continue this process until they can purchase a validated and assuredly successful product to replace a legacy technology. Trust me, they arent skipping any steps here. Its going to take time to replace fossil fuels. So, are torches commercialized? No, you cant say that until the SAT is complete and beginning of a large order from a large client comes in, then you can say torches are commercialized. But they will also still be R&D, because remember that torches were found to have a use in the aluminum industry? With those other clients, the primary and secondary smelters? Well, you can bet they are working hard on the logistics of "commercializing" in the aluminum industry. In summary, PYR is a plasma technology and GHG reduction R&D company in the business of selling and commercializing clean plasma technology solutions. They are working on it from every angle. Lots of legs on the stool, progress on each of the big items is going forward, but as you can imagine this is a humongous scientific and engineering R&D undertaking. Plasma is the 4th state of matter. Most people only ever learn about solid/liquid/gas unless they take advanced chemistry courses. So PYR (and all their plasma experts) are using a technology that very little people across the world truly understand what it means and how it can be used, from an advanced engineering perspective. We know that Plasma gets super hot. Heat is a very powerful factor in chemical/thermodynamic/pressure reactions and equations -for all kinds of things. This technology is very important because so little people understand it. Science is just now starting to find new creative uses for plasma, to be more efficient than traditional fossil fuels and produce no pollution. This is going to take some time, but it is the future. And with PYR having 25 years plasma R&D under their roof, they are cutting the edge of science and technology on a topic/state of matter that even the scientific community doesnt fully understand. Thats why its called "research".. and "development". They are cutting the edge in both an academic and an engineering/commercialization perspective. The scientists get their peer-reviewed papers/patents and the company benefits from scaling and commercializing the product. This stuff takes time. The exciting is that of all the plasma companies in the world, I do not think there is any rival to PYR. If anyone in the world is going to figure out how to use plasma to advance science and technology, its going to be PYR. Thats why I am invested and why I am excited. Change is imminent. This technology is the future of science. For the science. Hope that explains why I post what I post, and how I see it from my perspective. Im not thinking about next month or next year, Im thinking about what will the technology and scale be in 5 years?