PyroGenesis Successfully Completes First Phase of Torch Modelling Geared to Reducing Greenhouse Gases for Major Iron Ore Pelletization Client

MONTREAL, April 30, 2020 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch systems, is pleased to announce today that, further to its press release dated March 4^th, 2020, it has successfully completed the first phase (the “First Phase”) of a multi-phase modeling contract aimed at  evaluating the performance of PyroGenesis’ proprietary torches in an existing iron ore industrial furnace with the goal of replacing all existing fossil fuel burners with PyroGenesis’ plasma torches. All phases will be completed by the end of Q2 2020. The client is a multi-billion-dollar international producer of iron ore pellets (the “Client”), one of the largest in the industry, whose name will remain confidential for competitive reasons. The Client has over 10 plants each requiring approx. 50 plasma torches.

This all important First Phase demonstrated that replacing fossil fuel burners with PyroGenesis’ proprietary plasma torch (i) has absolutely no ancillary detrimental effects anywhere in the process or with the furnaces, (ii) results in significant greenhouse gas reduction while at the same time, (iii) projecting significant cost savings.

This contract consists of evaluating the performance of PyroGenesis’ proprietary torches in the Client’s industrial furnace. The First Phase results confirm that replacing fossil fuel burners with PyroGenesis’ proprietary  plasma torches will not have any detrimental effects on the Client’s process or their furnaces and, more importantly, will result  in a CO₂ reduction in excess of 350,000 tons per year per plant (which is equivalent to removing 76,000 cars¹ from the road), while at the same time projecting significant cost savings.  The Client has over 10 plants, each requiring approx. 50 torches.  Each torch will generate up to $3M of revenue to PyroGenesis. The subsequent modelling phases will further quantify the benefits of transitioning to plasma.  All phases will be completed by the end of Q2, 2020.