PyroGenesis and GE Vernova Forge Partnership for Industrial Electrification

PyroGenesis Canada ( (TSE:PYR) ) has provided an announcement.

PyroGenesis Inc. has signed a Memorandum of Understanding (MOU) with GE Vernova’s Power Conversion & Storage business to explore a strategic collaboration aimed at replacing fossil fuel combustion in high-temperature industrial processes with all-electric plasma torches. This partnership is expected to enhance PyroGenesis’ market positioning by enabling significant energy savings, reducing emissions, and increasing production efficiency for industries like aluminum and steel production. The collaboration will involve a phased approach, starting with studies for implementing PyroGenesis’ plasma torches and GE Vernova’s electrical infrastructure in large industrial facilities, potentially leading to increased revenues and profitability for stakeholders.

More about PyroGenesis Canada

PyroGenesis Inc. is a high-tech company specializing in the design, development, manufacture, and commercialization of advanced all-electric plasma processes and sustainable solutions. The company focuses on supporting heavy industry in energy transition, emission reduction, commodity security, and waste remediation. PyroGenesis operates in markets such as iron ore pelletization, aluminum, waste management, and additive manufacturing, leveraging proprietary plasma technologies to offer economically attractive alternatives to conventional processes.

YTD Price Performance: -14.75%

Average Trading Volume: 66,526

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$95.75M

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