PYR stock rises on “milestone pour”

After what the company describes as a “milestone pour” that validates “all critical milestones”, PyroGenesis (PyroGenesis Stock Quote, Chart, News, Analysts, Financials TSX:PYR) today leads the Toronto Stock Exchange.

Montreal-based PYR, which plasma processes to reduce greenhouse gases, released news on October 11, saying its engineering teams completed a pour of silicon from its Purevap Quartz Reduction Reactor.

“As a result,” the company said “the work completed has now successfully validated 100% of the project’s critical milestones, which include, but are not limited to: Achieving 99.5% Silicon purity (2N+) from the outset, a level that exceeds the best commercially available purity threshold. Scaling up production by 2,500X from PUREVAPTM Gen2 QRR. Demonstrating the semi-continuous batch production capability of the reactor. Completing a successful silicon pour. Achieving one-step production of 3N+ Silicon or battery-grade Silicon. Production of silicon using 25% less feedstock than conventional carbothermic processes that use a ratio of 6 tonnes (t) of raw materials to produce 1 ton of metallurgical grade silicon (MG Si – 98.5% to 99.5%).”

Company CEO P. Peter Pascali commented on the development.

“In many ways, this silicon pour is the crowning achievement in the development of this QRR pilot plant,” he said. “This phase is now complete, and I personally would like to recognize the effort shown by our team of scientists and engineers who met and overcame all challenges and delays during this long process. We are, of course, also very happy for our client HPQ Silicon, as they now have final proof that this game-changing approach to the creation of high-purity silicon is ready for commercialization.”

At press time, shares of PYR were up 15.8 per cent to $0.66.