PyroGenesis Inks JV Agreement To Convert Aluminum Dross Residues Into Chemical Products

  • PyroGenesis Canada Inc PYR has signed joint venture and license agreements with a residue processor to transform dross residues into high-value chemical products.
  • The 50:50 JV will be geared towards building, installing, and operating dross residue valorization facilities worldwide.
  • Through the JV, PyroGenesis has secured an exclusive license to a patented technology expected to convert dross residues into high-value chemical products.
  • Under the terms of the JV, the exclusive access to the technology initially applies to projects in North America and the Gulf Cooperation Council nations.
  • The first plant, which will be built after securing a contract to process dross residues, has been identified within the Gulf Region. Discussions to secure and process those residues have taken place, the company noted. 
  • Price Action: PYR shares closed higher by 4.26% at $4.16 on Monday.

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