Client B is definitely Rio Tinto IOC’s annual sustainable development report captures its progress to date, its greenhouse gas performance and targets and its contributions to the future sustainability of the communities where it operates. In 2020, IOC created 981,339 tonnes of CO2e of greenhouse gas emissions (Scope 1 and 2). In October, 2021 Rio Tinto unveiled a longer term strategy that set a new target for its subsidiaries, including IOC, to reduce its Scope 1 and 2 carbon emissions by 50% by 2030, more than tripling its previous target, and is bringing forward its 15% reduction in emissions to 2025 (previously 2030). Rio Tinto is focussed on developing technologies such as hydrogen or plasma torches which can use renewable energy to potentially replace fossil fuels for heat and steam. Four plasma torches were ordered in 2021 for a trial at IOC’s pellet plant.
https://labradorironore.com/responsibility/environmental-and-sustainability/
Bodes very nice as everyone knows Client B is Rio Tinto
“We have achieved another major milestone as this is our second commercial plasma torch order with a major iron ore producer,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “In addition, Client B has advised that they would likely be ordering approximately 130 torches upon the successful installation of today’s order. This is particularly interesting given that Client B does not have the largest need amongst iron ore pelletizers. For example, we estimate that Client A, who has over ten (10) plants, each possibly requiring up to 50 plasma torches, has a significantly higher need. The iron ore pelletization industry is under extreme pressure to reduce their carbon footprint and GHG emissions. As the industry is expected to grow at 3.0% pa from 2021 to 20271, iron ore pelletizers are looking for technology solutions to help them meet their carbon footprint and GHG targets. PyroGenesis’ proprietary plasma torches which significantly reduce GHG emissions are an attractive solution as an environmentally friendly alternative to fossil fuel burners. As sales of PyroGenesis’ plasma torches increase, PyroGenesis should also benefit from providing proprietary spare parts and services, which would generate significant high-margin, recurring revenue. We cannot overemphasize the opportunity this order presents. Although nothing is certain with respect to success and/or future contracts, and there are always risks as we move forward, we can now say without a doubt that we are on the right path and things are evolving in the right direction.” https://www.globenewswire.com/en/news-release/2021/09/14/2297042/0/en/PyroGenesis-Announces-6-Million-Torch-Order-with-Another-Major-Iron-Ore-Pelletizer.html