PyroGenesis Inc T.PYR

RE:RE:New Press Release - PyroGenesis Announces 2024 Second Quarter Results

[BCONTVentures]

And:

• Mining Industry Parts Manufacturer Decarbonization:
  As noted above, in April 2024 the Company announced the signing of a contract with a client to assess the applicability and examine the use of plasma as a heat source in the client’s cast furnaces. The client, a billion-dollar entity with facilities on five continents, is one of the world’s largest manufacturers of products that serve the mining and defense industries, amongst others.
  
  The tests noted as targeted for completion by the end of the Q2 were conducted and have concluded, successfully.
  
  Negotiations are now underway for the sale of initial plasma torch system(s) as well as the accompanying manipulation/handling components, as a per unit price of between US$500,000-$1,000,000 in revenues to PyroGenesis per torch.

• Titanium Metal Powder:
  The Company is in discussions with several companies about possible contracts for both fine and coarse cut titanium metal powder. These include large European and North American firms within the aerospace and materials supply industries.

• Plasma-Based Graphite Production:
  The Company is in advanced discussions with an entity engaged in the production of graphite, for a first phase design and delivery of a customized pilot-scale plasma reactor and associated testing system, with an estimated value of between $500,000 to $1 million.

And from @ToolmanTim:

@ToolmanTim Overall, PyroGenesis reported strong Q2 results, with revenue growth and a significant increase in backlog. The company also announced several new contracts and partnerships, demonstrating progress in its business verticals. This was a much improved quarter. Way to go PYR! Revenue: $3.93 million (up 29.6% year-over-year) Gross margin: 29% Net income: $1.4 million (earnings per share: $0.01) Backlog of signed/awarded contracts: $29.8 million (as of August 6, 2024)

@ToolmanTim ... and they announced a crapload of projects on the go: Land-based waste-to-energy system design and potential development contract (value: $120-160 million); Plasma remelting furnaces for Constellium; Decarbonization project with global mining supply company; Steel production project with global steelmaker; Desulphurization and gas cleaning project with Indian steel company; Thermal swing adsorption system for Varennes Carbon Recycling Plant The future is looking really good. Well done PYR!

BCONTVentures wrote: Definitely lots going on at PyroGenesis, make sure to read the Business Line Developments.  Some key points from the NR:

• Aluminum Furnace Tests:
  The Company has started, and will continue in the near term, live furnace tests of plasma as a process heat source in melting and holding furnaces with major aluminum companies, and is in advanced discussions with other companies for similar live furnace tests of plasma as a process heat source in melting and holding furnaces. Due to the nature of these tests and the increasing number of similar tests, the Company may choose not to announce every test session it engages in.

• Aluminum Cast House Decarbonization:
  The Company is part of a tendered bid process for the testing of plasma within an aluminum cast house of a leading global aluminum company. This is unrelated to the project announcement made in conjunction with Constellium. During the quarter, the Company was advanced past the preliminary tender phase to the full tender proposal phase.
  
  The Company’s full proposal is now due in August, with the final client decision expected in the near-to mid-term.

• Drosrite Factory Trials:
  The Company is in final logistical discussions with multiple aluminum manufacturers regarding on-site trials of the Company’s Drosrite furnace system for the processing of aluminum dross, as a first step towards potential purchase of Drosrite systems. These particular potential clients are located across Europe and the United States.

• Plasma Resource Recovery System (PRRS):
  Post quarter end, the Company announced [news release dated July 29, 2024] the signing of a contract for a land-based waste-to-energy system to a European entity, to transform municipal solid waste into both energy and chemical products. The contract was announced as two phased: phase 1 is a signed $2 million contract for a conceptual and preliminary design phase; phase 2 is the construction and delivery of a final system. Phase 1 is expected to be completed in 2025. Phase 2 is dependent on the client obtaining the required financing and the negotiation of terms and conditions. As noted in the news release, the potential value for this contract grew from approximately $25-$30 million to between $120-160 million, with final decision based on the results of the phase one project, which is scheduled for completion in Q3 2025.
  
  Separately, the Company is in initial discussions with an additional European company for the Company’s Plasma Resource Recovery System, for use in the pyrolysis of plastics.