PyroGenesis Provides Update on the PUREVAP™ Quartz Reduction Reactor and Fumed Silica Projects with HPQ Silicon Inc.

MONTREAL, Oct. 03, 2023 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (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) and address environmental pollutants, is pleased to provide, further to HPQ Silicon Inc’s (“HPQ” or the “Client”) press release dated September 28^th, 2023 and the Company’s news release dated June 1, 2023, an update on its strategic engineering partnership with HPQ on two projects: (i) the PUREVAP™ Quartz Reduction Reaction (QRR) pilot plant and (ii) the Fumed Silica Reactor (“FSR”) project. As part of the terms of both projects with HPQ, PyroGenesis benefits from a royalty payment representing 10% of the Client’s eventual sales, with set minimums. With respect to the FSR with HPQ Silica Polvere Inc. (“HPQ Polvere”), a wholly owned subsidiary of HPQ, this royalty stream, can, at any time, be converted by PyroGenesis into a 50% ownership in HPQ Polvere.

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