PyroGenesis Canada Inc (PYRGF)

[climber18]

PyroGenesis signs pretolling deal with aluminum smelter

2019-02-19 10:33 ET - News Release

Mr. Peter Pascali reports

PYROGENESIS SIGNS PRE-TOLLING AGREEMENT WITH MAJOR ALUMINUM SMELTER IN THE MIDDLE EAST

PyroGenesis Canada Inc. has entered into a pretolling agreement with a major aluminum smelter in the Middle East, the name of which remains confidential for competitive reasons.

PyroGenesis's Drosrite system is a proven, salt-free, cost-effective, sustainable process for maximizing metal recovery from dross, a waste generated in the metallurgical industry. PyroGenesis's patented process avoids costly loss of metal while reducing a smelter's carbon footprint and energy consumption, thus providing a high return on investment. The system has been designed to process and recover valuable metals such as aluminum, zinc and copper from dross. Of note, a tolling service arrangement is one in which a smelter provides dross to a third party to be processed for a fee either on or off site.

The agreement outlines the next steps to enter into a final tolling arrangement, which includes a formal demonstration of the company's proprietary Drosrite system at the client's facility. This will demonstrate to local authorities that Drosrite can process the client's dross in an environmentally friendly and cost-effective manner. The trials are expected to further demonstrate that Drosrite can be used to recover aluminum from the client's dross without the addition or use of fluxing salts, resulting in a non-hazardous residue, which can then be utilized by other industries, thereby closing the loop in dross processing.

Prior to entering into this agreement, the client conducted its own independent analysis and concluded that the Drosrite technology should have a significantly higher recovery rate than their current practices and embraced the fact that the Drosrite system does not use salt and, therefore, unlike other processes, does not produce hazardous salt cakes as a byproduct.

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