PyroGenesis Signs $4.1 Million Contract for 4.5MW Plasma Torch System with Aeronautics and Defense Client as Demand for Clean Energy Expands Across Heavy Industry

MONTREAL, Aug. 01, 2023 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a TSX30 and a Deloitte Canada Clean Technology Fast 50™ 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 the receipt of a contract valued at approximately $4.13 million (US$3.13 million) (the “Contract”) from a U.S. corporation (the “Client”). The name of the Client will remain anonymous for confidentiality reasons. The Client has extensive experience as an innovation hub, providing technology and test services to solve critical defense, military, and aeronautics challenges. The Client is home to some of the most renowned scientists in the world, who collectively have contributed to a variety of landmark achievements in US history, especially in aeronautics. Separately, the Client’s facilities house unique full-scale test conditions considered essential to U.S. national security.

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