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Be the first with the news that moves the market- PyroGenesis (PYR) has received a $2.4 million payment from a major international iron ore producer
- The payment was triggered by PyroGenesis’ delivery of four 1-MW plasma torch systems as a potential replacement for the client’s fossil-fuel burners
- Torch installation and trials are slated to be finalized by Q2 2023
- PyroGenesis offers advanced plasma processes and sustainable solutions to reduce greenhouse gases
- PyroGenesis (PYR) opened with a loss of 1.42 per cent, trading at $1.38 per share
PyroGenesis (PYR) has received a $2.4 million payment from a major international iron ore producer.
The payment was triggered by PyroGenesis’ delivery of four 1-MW plasma torch systems for use in the client’s iron ore pelletization furnaces – a key upstream part of the steelmaking process.
The torches use renewable electricity, allowing the client to reduce its greenhouse gas emissions compared to conventional fossil-fuel burners.
Pelletization significantly reduces the cost of transporting iron ore, which is an essential feedstock for blast furnaces.
Torch installation and trials are slated to be finalized by Q2 2023.
PyroGenesis offers advanced plasma processes and sustainable solutions to reduce greenhouse gases.
PyroGenesis (PYR) opened with a loss of 1.42 per cent, trading at $1.38 per share.
