PyroGenesis Receives $1.04 Million Project Milestone Payment Under Existing $4.1 Million Contract for 4.5MW Plasma Torch with Aeronautics and Defense Client

MONTREAL, Jan. 21, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions which are geared to reduce greenhouse gases (GHG) and address environmental pollutants, announces the receipt of a US$730,000 (CA$1.04 million) payment for engineering and production milestones reached under PyroGenesis’ existing CA$4.1 million contract with an aeronautics and defense industry client. The client regularly serves as a prime aeronautics, defense, and military contractor for the U.S. government as well as for public and private customers in the aeronautics and related industries. Due to confidentiality requirements, the name of the client, and the specific purpose and application of PyroGenesis’ proprietary plasma torch system delivered under this agreement, was not disclosed