Mr. Peter Pascali reports

PYROGENESIS ANNOUNCES $1.4 MILLION CONTRACT TO SUPPLY TWO PLASMA TORCHES TO EUROPEAN MINING, METALLURGY & MATERIALS ENTITY

PyroGenesis Inc. has signed a 900,000-euro ($1,445,000) contract with a European research institute focused on non-ferrous metallurgy, high-purity materials, sustainable recycling, decarbonizing processes and the circular economy. Under the contract, PyroGenesis will supply two plasma torch systems, 300 kilowatts and 40 kW, for use in advanced metallurgy and high-temperature applications related to non-ferrous metals and critical minerals. The client's name will remain confidential for competitive reasons. A 60-per-cent down payment is expected within the next few weeks.

Project highlights

Purpose:  determining the use of electric non-transferred DC plasma torches in advanced metallurgy, high-temperature applications and pyrometallurgical processing

Scope:  supply of two proprietary non-transferred DC plasma torch systems at different maximum power levels (300 kW and 40 kW), plus peripherals, training and support

Timeline:  delivery to client is targeted for Q2 2027

Strategic impact:  supports metallurgy, pyrometallurgical, mining, and critical mineral industry goals to produce more advanced, more efficient, cleaner, and "greener" materials and methodologies (including for extraction, oxidizing or reducing atmospheric processing, recycling, energy transition and electrification, waste reduction, and decarbonization), at one of the oldest and most prominent industry metallurgy research facilities in the world

As previously mentioned in the outlook section of the company's Q2 2026 earnings release dated Aug. 6, 2026, the company had been in discussion with a European research institute for multiple plasma torches for use in advanced metallurgy research. Today's contract announcement covers two torch systems of different power levels. Both systems, a 300 kW system and a 40 kW plasma torch, are to be designed with multi plasma-forming gas options. The client has numerous projects under way, and the plasma torches could be used across various applications.

"Research institutes play a critical role in advancing heavy industry by driving the research, innovation and technological breakthroughs that enable new processes, materials and applications. Throughout our history, we have built strong relationships with many of the world's leading researchers and research institutes at the highest levels, and this new contract with one of the oldest and most prominent facilities in the world clearly demonstrates this," said P. Peter Pascali, president and chief executive officer of PyroGenesis. "Our work in the mining, minerals and materials sectors spans decades, particularly for non-ferrous metals such as aluminum. Providing our plasma technology to this world-leading institute will help further advance metal industry applications, create new innovations that thereby support our target customer needs and by default help generate new opportunities for PyroGenesis."

Industry and market context

• The global non-ferrous metals market, which includes core industrial metals like aluminum, copper, zinc, nickel and lead, is valued at over $1.2-trillion.
• With rising demand driven by lightweight material needs in automotive and aerospace manufacturing, renewable energy, and digital infrastructure, the market is expected to reach $1.77-trillion by 2034.
• As demand increases and as raw material volatility persists, metal recycling is expanding rapidly, with the recycling and reprocessing of these metals accounting for 30 to 40 per cent of the total global market metal supply. Some estimates suggest that 60 per cent of the global non-ferrous metal demand is met through recycled sources.
• Among several solutions targeting the non-ferrous metals industry, PyroGenesis provides plasma torch technology to heat recycled and scrap aluminum remelting3 and holding furnaces in aluminum cast houses, and provides the Drosrite system to extract and reuse valuable aluminum from aluminum dross waste streams.

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 defence. 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's engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultrahigh temperature technology. PyroGenesis's operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis's shares trade on the Toronto Stock Exchange (PYR), OTCQX (PYRGF) and Frankfurt (8PY1) stock exchanges.

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