MONTREAL, Oct. 28, 2026 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis” or the “Company”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), a leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that it has signed a small contract with a U.S. firm (the “Client”) that has developed technology to produce critical agricultural materials using clean energy. Under the contract, PyroGenesis will supply an initial 40 kW plasma torch system, as part of a potential 3-torch order. The Client’s name and terms of the contract will remain confidential for competitive reasons. A 60% downpayment is expected in the coming weeks.
As previously mentioned in the Outlook section of the Company’s Q2 2026 earnings release [dated August 6, 2026], the Company has been in discussion for both low-powered (up to 40 kW) and hyper-high powered (6 MW) plasma torches with a U.S. company who develops material for use in the agricultural industry.
Today’s contract announcement is for the first of those torches, the 40-kW plasma torch, to be designed with multi plasma-forming gas options. In addition to the potential for a 6 MW plasma torch, the Client has proposed a potential third torch in the intermediate power range for the next iteration of the Client’s technology in 2027, leading potentially to a hyper-high-powered torch of up to 6 MW as their process is proven out and volumes increase.
“This sale represents another example of how our advanced plasma torch technologies are finding applications in industries beyond our traditional markets,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “The agricultural technology sector is undergoing significant innovation through automation, artificial intelligence for use in crop analysis to improve yields and reduce disease, the introduction of new sustainable biological and organic crop inputs and nutrients, decarbonization efforts, and more, creating opportunities for specialized engineering solutions. We believe this contract further demonstrates the versatility of our technology and reinforces our strategy of expanding our commercial reach into new markets. While there is no guarantee of additional torch orders, this is an exciting client with a groundbreaking approach in a new market for PyroGenesis. The combination of innovation, market potential, and opportunities for future collaboration makes this precisely the type of relationship we are eager to develop.”
The Client is a privately held agricultural technology company pioneering a carbon-free production process for critical material essential to the agricultural sector. Its technology is designed to strengthen domestic supply chains by reshoring production of these materials while providing an economically viable pathway to decarbonization. Backed by leading European and Silicon Valley venture capital funds through multiple financing rounds, the Client has already achieved approval for the use of its material in organic farming in its home state.
Image: PyroGenesis’ plasma torches.
INDUSTRY AND MARKET CONTEXT
The production of agricultural materials – particularly crop nutrients and fertilizers – is a significant source of global greenhouse gas (GHG) emissions.
China, India, and Russia are the world’s major producers of agricultural chemicals, combining for approximately 40 to 50% of exports.
The global market for agricultural nutrients and fertilizers is growing at a compound annual growth rate (CAGR) of approximately 3.7 to 4.1%.
The market for organic and specialized biological crop inputs is expanding at a CAGR of approximately 12%.
About PyroGenesis Inc.
PyroGenesis leverages 35 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfurt (8PY1) stock exchanges.
Cautionary and Forward-Looking Statements
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by PyroGenesis as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in PyroGenesis’ latest annual information form, and in other periodic filings that it has made and may make in the future with the securities commissions or similar regulatory authorities, all of which are available under PyroGenesis’ profile on SEDAR+ at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect PyroGenesis. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. PyroGenesis undertakes no obligation to publicly update or revise any forward-looking statement, except as required by applicable securities laws. Neither the Toronto Stock Exchange, its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) nor the OTCQX Best Market accepts responsibility for the adequacy or accuracy of this press release.
