RE:RE:RE:RE:New Press Release - PyroGenesis and Constellium Sign Letter of Intent for Large-Scale Plasma Remelting FurnacesThinkbigsti69 wrote: Thinkbigsti69 wrote: Thinkbigsti69 wrote: This news release sure riled the bashers. They are not happy at all. LOL
MONTREAL, April 10, 2024 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX:PYR) (OTCQX:PYRGF) (FRA:8PY), a high-tech company (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 it has signed a collaboration agreement (the “LOI”) with Constellium, one of the world’s largest aluminum transformation and recycling companies, to develop plasma torches and associated processes as suitable heating sources for aluminum remelting furnaces. This announcement is further to the Company’s press releases dated April 20, 2022, and March 31, 2023, which provided updates on its aluminum business offerings, and after the recent successful completion of an initial joint evaluation of plasma technology in aluminum melting test furnaces. PyroGenesis and Constellium have agreed to implement an industrial scale aluminum remelting furnace, which would serve Constellium’s decarbonization strategy. The project would consist of two phases: i) conducting feasibility studies and engineering; and ii) implementing a demonstrator plasma-heated furnace system in one of Constellium’s aluminum casthouses.
“PyroGenesis was proud to host and work with the scientific team from Constellium during this important test campaign over the last several quarters. The results from this campaign have led to today’s agreement to move forward with a planned scale-up to a full-size furnace at one of Constellium’s casthouses,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “PyroGenesis is quickly becoming the go-to plasma solution company for key players in heavy industry as they seek solutions to meet their global decarbonization strategies. Constellium is one of the best examples of a global industry leader who is evaluating PyroGenesis’ electric plasma torches as a fuel-switching possibility. We expect that with the energy transition trend only getting started, that others will follow the lead of influential and respected companies like Constellium.”
“As part of our decarbonization roadmap, Constellium has been evaluating various solutions to support the decarbonization efforts within our aluminium cast houses,” said Mr. Ludovic Piquier, Senior VP Manufacturing Excellence and Chief Technical Officer of Constellium. “We are delighted with the robust research and development collaboration alongside PyroGenesis, which culminated in a successful plasma test campaign at their facility. Our technical experts, hand in hand with their PyroGenesis peers, were able to demonstrate the highly promising potential of plasma torch applications in our cast house furnaces. This fruitful collaboration has paved the way for our next phase of partnership as we transition to a significantly larger furnace and facility.”
The Company’s development of plasma torches for use in high temperature furnaces is part of the Company’s three-tiered solution ecosystem that aligns with economic drivers that are key to global heavy industry. Plasma torches for aluminum melting furnaces are part of the Company’s Energy Transition & Emissions Reduction tier, where fuel switching utilizing the Company’s electric-powered plasma torches helps heavy industry reduce fossil fuel use and greenhouse gas emissions.
NR from Constellium
https://www.stockwatch.com/News/Item/U-z9087052-U!CSTM-20240410/U/CSTM
PARIS, April 10, 2024 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) announced today the signing of a partnership agreement with PyroGenesis Canada Inc. to test the use of plasma torch technology to support Constellium’s decarbonization roadmap. After successful first laboratory trials, Constellium and PyroGenesis have now entered an agreement to test this technology at industrial scale with the implementation of a demonstrator plasma-heated furnace system in one of Constellium’s casthouses. A plasma torch operates by generating an electric arc that ionizes gas, creating a superheated plasma. This plasma, with temperatures surpassing traditional methods, offers a faster, more efficient, and environmentally friendly alternative to traditional burners. PyroGenesis is a leader in the development of advanced plasma technologies.
“As part of our decarbonization roadmap, Constellium has been evaluating various solutions to support the decarbonization efforts within our aluminium casthouses. The plasma torch technology has the potential to reduce our direct emissions by a factor of three compared to the current benchmark,” said Ludovic Piquier, Senior VP, Manufacturing Excellence and Chief Technical Officer of Constellium. “Our recent laboratory trials with PyroGenesis, soon to be validated at scale, have yielded promising outcomes. This could be a major step forward in our commitment to reduce our carbon footprint.”
“PyroGenesis was proud to host and work with the scientific team from Constellium during this important test campaign. The results from this campaign have led to today’s agreement to move forward with a planned scale-up to a full-size furnace at one of Constellium’s casthouses,” said P. Peter Pascali, CEO of PyroGenesis. “PyroGenesis is quickly becoming the go-to plasma solution company for key players in heavy industry as they seek solutions to meet their global decarbonization strategies. Constellium is one of the best examples of a global industry leader who is evaluating PyroGenesis’ electric plasma torches as a fuel-switching possibility.”
About Constellium
Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value-added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €7.2 billion of revenue in 2023.