INITIAL STUDY TO INVESTIGATE PLASMA TORCH RETROFITTING OF CHEMICAL PRODUCTION BOILERS
MONTREAL, Jan. 12, 2023 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a TSX30® and a Deloitte Technology Fast 50TM high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG), is pleased to announce that the Company has signed an initial contract with a major European multinational chemical, oil, and gas conglomerate with 2021 revenues exceeding USD$25 billion (the “Client”) to assess the applicability of PyroGenesis’ fully electric plasma torches for use in its Client’s chemical production process (the “Agreement”). The Client’s name shall remain anonymous for competitive and confidential reasons.
The Client, headquartered in Southern Europe, has a 100-year history of success across the petroleum, energy, and chemical industries, with a recent focus on energy transition, green energy, and the decarbonization of both their own production processes and the sectors in which they serve. It is one of the largest companies of its kind worldwide, and they are active on multiple continents.
The Agreement outlines the initial steps for providing plasma specific information in support of the Client’s energy-transition goals. The first step requires a computational fluid dynamics (“CFD”) study to gather initial data to evaluate the use of plasma in the Client’s chemical production boilers.
Once the CFD study is completed, and depending on the results, the Client has indicated that it would then proceed to a live experimental validation study within their facilities, using PyroGenesis’ plasma torches, as per a separate to-be-negotiated agreement.
“This Agreement is yet another example of the fast-growing shift taking place across multiple heavy industries which are all being challenged to decarbonize,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “This Client has made a major public commitment to technology and innovation with the goal to help drive the transformation of the global chemical sector, with energy transition being a major part of that commitment. We are proud that our electric plasma torches are under serious consideration as part of their commitment to change.”
And for your info this from the CEO site on who that co. may be. And is it interesting that its Italian and coincidently PYRs CEO is Italian i believe.
@PenKerGof @Fanduch, I used the following search and Eni S.p.A. came up as the potential company! Name the following company: - Major European multinational chemical, oil, and gas conglomerate with 2021 revenues exceeding USD$25 billion. headquartered in Southern Europe, has a 100-year history of success across the petroleum, energy, and chemical industries, with a recent focus on energy transition, green energy, and the decarbonization of both their own production processes and the sectors in which they serve. It is one of the largest companies of its kind worldwide, and they are active on multiple continents. ChatGPT: The company you are referring to is Eni S.p.A. It is an Italian multinational oil and gas company headquartered in Rome, Italy. Eni is one of the world's largest publicly traded oil and gas companies and has a significant presence in various continents. It has a long history dating back to its establishment in 1953, and it has been active in the petroleum, energy, and chemical industries for decades. In recent years, Eni has shown a strong commitment to energy transition, green energy, and decarbonization efforts.