PyroGenesis: green to identify yourself

“We want to create a dynasty,” said PyroGenesis President and CEO Peter Pascali. (photo courtesy)

Long under the radar, plasma torch maker PyroGenesis (PYR) is starting to get noticed by investors and is relying on its green side to maintain momentum.

After years of less than a dollar mark, the Montreal company’s stock rose last year to hit a high of $ 12.14 on the Toronto Stock Exchange in January before falling to the following.

Also listed on the NASDAQ, they traded around $ 7.75 at the start of the week. After losses in recent years, the SME of approximately 75 employees returned to revenue for the 2020 financial year.

Its equipment, which generates extreme temperatures, is particularly pleased with the American authorities. These are found on United States Navy aircraft carriers, to turn waste into gas.

“Navy is an understanding client who demands very high standards of quality and expertise, explained the President and Chief Executive Officer., Peter Pascali, in an interview with Deals. When Quebecers realized that our technology had been made here for over 20 years, they were really surprised.

Go green

The company relies not only on the efficiency of its equipment to win new contracts, but also on the global movement to reduce greenhouse gases (GHGs).

“We position ourselves as a company that lowers GHG,” said the man who owns nearly half of PyroGenesis ’components.

For pelletizing iron ore, he hopes to convince steelworks to leave diesel for burners, to replace them with plasma torches, which are less polluting.

“We have a patent. The furnace only needs adjustments to make the change, Peter Pascali emphasizes. It has a potential global market of ten billion dollars. And we are the only ones doing it. It’s really big for Quebec. ”

“Easy to install,” he added. Steel mills can do this on their own, as they have a lot of engineering expertise. We just need to send them the material with instructions and they will do the installation themselves. We can easily make large orders. “

He said his technology could also be used in the cement, glass and plastics industries. The executive said most of its product lines do not rely on government incentives, such as tax credits or environmental subsidies, to be viable.

PyroGenesis also works with aluminum smelters to recycle aluminum waste. It also announced on June 7 a letter of intent for the sale of three waste recovery systems to an existing customer. If it goes ahead, this contract will cost 10 to 15 million dollars (M $).


Created in the 1990s, the SME has also diversified its activities. It is working with HPQ Silicon Resources, of which it is a shareholder, to convert quartz into fumed silica using a plasma reactor, to reduce hazardous waste and GHG emissions. Silicon is found specifically in the manufacture of solar panels and electric batteries.

It also provides plasma atomized metal powders that can be used for 3D printing, as well as in fields such as aerospace and biomedical.

PyroGenesis will also enter into renewable gas with the purchase of Montreal SME AirScience Technologies (AST) for $ 4.8 million. AST builds systems to recover biomethane, which is generated by organic wastes in landfills and farms. “This gas is converted into electricity or heat, but AST forms a process to produce hydrogen, which has a larger value”, argues Peter Pascali.

He pointed out that with an order book that has tripled in recent quarters, minimal debt and cash to approximately $ 25 million, PyroGenesis has what it takes to stand. “We want to create a dynasty”, said with enthusiasm who has been the head of the company for nearly thirty years.

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