Contract Increase for Reducing Greenhouse Gases Sending Shares Higher

By: Tomas Ronolski - AllPennyStocks.com News

Monday, February 3, 2025

This high-tech company is flying high on an announcment of an increased contract for a greenhouse gas-reducing system.

PyroGenesis Inc. (TSX: PYR) (OTCQX: PYRGF) designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that are geared to reduce greenhouse gases (GHG) and address environmental pollutants. In a press release today, the firm announced that its subsidiary, Pyro Green-Gas Inc., signed a $1.1 million second contract with the Varennes Carbon Recycling plant, a large biofuel production project currently under construction in Varennes, Quebec.

This brings the project contracts with Pyro Green-Gas to a total of $3.6 million. PyroGenesis was contracted to engineer, design, and fabricate a thermal swing adsorption system to dehydrate pure oxygen produced from electrolyzers at the VCR plant. Under the terms of the new project, PyroGenesis will provide additional engineering, technology services and equipment related to a nitrogen loop system, whereby nitrogen would be fed into the system to regenerate the system.

Shares were trading up in afternoon trade.

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