Market Newsdesk

MONTREAL, Nov. 12, 2020 (GLOBE NEWSWIRE) — PyroGenesis Canada Inc. (TSX-V: PYR; OTCQB: PYRNF; FRA: 8PY) (the “Company” or “PyroGenesis”), a high-tech company that designs, develops, manufactures and commercializes advanced plasma processes and products, is pleased to provide an update on the Company’s iron ore pelletization plasma torch business.

Mr. P. Peter Pascali, CEO and Chair of PyroGenesis, provides this update in the following Q&A format. The questions, for the most part, are derived from inquiries received from investors, and analysts:

Q


1


.


For those


who


are new to the story, could you please


provide


us


with


some background on your


high-powered


(~ 1 MW range)


plasma torch


business


and how


it


relate


s


to


the


iron ore


pelletization


industry


?

A.
Most certainly.

For background, pelletization is the process in which iron ore is concentrated before shipment, thus significantly reducing the cost of transportation, and providing a required feedstock for blast furnaces. In conventional technologies, the process heat is provided by fuel oil or natural gas burners (both environmentally damaging). The combustion, in the burners, of fossil fuels results in the production of greenhouse gases (“GHG”), mainly CO₂. Plasma torches, by contrast, utilize renewable electricity and as such offer an environmentally attractive alternative to fossil fuel burners.

In January 2019, PyroGenesis was contracted for a 900kW plasma torch with a client which we later disclosed to be RISE Energy Technology Center AB (“RISE”) of Sweden. RISE was engaged in addressing the Swedish government’s commitment to zero carbon emissions¹; namely that within the iron ore pelletization industry. The ultimate objective was to determine the benefits, if any, of replacing traditional fossil fuel burners used in iron ore pelletization with plasma torches. We delivered the plasma torch and completed testing in 9 months.

Of note, PyroGenesis has a patented process to replace fossil fuel burners with PyroGenesis’ clean burning plasma torches, thereby reducing GHG emissions, for the iron ore pelletization industry.

Q2.


S


o,


P


yroGenesis


has the patent to replace f


ossil


f


uel


burners


with plasma torches in


the


iron ore


pelletization


industry


?

A.
Yes, we do. In other industries, we expect to leverage off of our first mover advantage developed in the iron ore pelletization industry.

Q


3


.


T


he RISE contract went well.


What happened next


?

A.
Our original goal was simply to have our torches be a contender in Sweden’s strategy to reduce GHG emissions in the iron ore pelletization industry. What we did not realize at the time, was the impact this would have on the industry as a whole. As noted above, we successfully completed the RISE contract in 9 months, which once made public, had a resounding effect as we apparently were addressing a significant concern in the industry with respect to GHG emissions reduction. Given this interest, we were approached by several companies in the industry which we have come to term Client A, B and C. Two of the three wanted to immediately engage in a modelling contract, and the third is in the process of considering such. We prefer to engage in a modelling-first-step as it helps quantify parameters that may be specific to the client.

Modelling is a computer-based simulation of the performance of PyroGenesis’ proprietary plasma torches using the specific parameters in a particular iron ore pelletization plant. The goal is to demonstrate the benefits of replacing existing fossil fuel burners with plasma torches and/or identify unanticipated or hidden costs/side effects.

To date, between RISE and the modelling we have done, two of the most important benefits demonstrated were i) that replacing fossil fuel burners with plasma torches was a simple replacement, plug and play process, and ii) that PyroGenesis’ proprietary plasma torches significantly reduce GHG emissions. There have been no unanticipated or hidden costs.

Furthermore, we have noticed that our patented plasma torch technology, not only has economic and environmental advantages, but may also address environmental policies and legislation being implemented worldwide. For example, the European Union (EU), as part of the EU’s 2030 climate and energy framework and contribution to the Paris Agreement², has put in place legislation to reduce emissions by at least 40% by 2030.

As a result, many companies in the field are implementing business strategies directed at reducing GHG emissions. As an example, a major international iron ore pelletizer has dedicated approx. US $2B towards their goal of reducing their carbon emission by 33% by 2030³.

We believe PyroGenesis is uniquely positioned to address such opportunities.

Q


4


.


Interesting…so


replacing fossil fuel


burners


with plasma torches might be able to


eco


nomically


,


and


significantly


,


reduce the


GHG


emissions


in the iron ore


pelletization


industry


?

A

. Correct.

Management has internally estimated that a typical pellet plant producing 10 million metric tonnes of pellets annually emits approximately one million metric tonnes of CO₂⁴. The total world pellet production of 400 million metric tonnes of pellets represents a potential market for torch sales in excess of $10B worldwide. The world pellet industry generates about 40 million metric tonnes of CO₂ every year. The use of plasma torches running off a clean electrical grid would reduce these emissions significantly. For reference, 40 million tonnes of CO₂ represent the combined yearly emissions of 8.7 million US passenger vehicles⁵.

The impact of replacing fossil fuel burners with plasma torches not only resonates in the iron ore pelletization industry, where we are patent protected, but also in other industries such as the aluminum, cement and glass industries, who are also pressured to reduce GHG emissions.

Q


5


.


What is your


business model


for replacing fossil fuel burners


with plasma torches


, specifically


in the iron ore


pelletization


industry which seems to be the low


–


hanging fruit


?

A.
This is a very good question.

Our offering is geared to address the need to develop fossil fuel free energy-mining-iron-steel value chain and thereby provide a basis for governance and industrial strategies for transformative change. Until recently, the business model was simply to sell torches (with an internal target of $3MM NPV per torch) with the recurring revenue derived from typical maintenance and spare parts contracts.

We now have come to appreciate the economics of leasing torches instead of an outright sell. This model has clear advantages to both parties; little-to-no CAPEX to the buyer, healthy recurring revenue stream to the seller. At this stage, we see this to be the fastest way to grow this business segment, and is a significant strategy-shift for the Company as it relates to this offering, and which we expect will play a key role in our position/ongoing discussions with clients.

Q


6.


Woul


d


n’t this leasing model be capital intensive?

A.
Yes and no.

It is capital intensive of course, however, there are major leasing companies we can team up with to provide this service. Given the size and credit worthiness of the client, together with a proven technology, we do not see this to be an issue. Had the client been small, their credit worthiness not be conducive to leasing, or the technology not be proven, then the burden would be on PyroGenesis to provide that capital, and we do not see ourselves engaging in that type of financing.

Q


7


.


In


closing, can you


give us


a status


/upda


t


e o


n


the existing


agreements


/contracts


u


nder discussion


?

A.
Certainly.

All of our projects are on track and progressing nicely. As previously disclosed on September 1^st, 2020, we have received a draft contract from Client A, which is still in the final stages of completion. The fact that we received this contract from Client A, on the heels of a successful modelling contract, who is a significant player in the industry, clearly demonstrates the impact that PyroGenesis’ proprietary plasma torches are having on iron ore pelletization GHG reduction strategies. If signed, and successfully deployed, one might expect they would start a program to replace their fossil fuel burners with PyroGenesis’ plasma torches. Although nothing is certain, we are definitely on the right track with Client A.

Client B has finalized their modelling contract, and like Client A, has moved to contract negotiations and requested a quote for an initial order of four torches which we have recently provided.

Client C is moving forward as well. We are confident that they will agree to enter into a modeling contract before an initial order of torches is placed. We find this to be the most prudent next step.

We are also in discussion with potential clients in other industries to replace their fossil fuel burners with PyroGenesis’ plasma torches.

About
PyroGenesis
Canada Inc.

PyroGenesis Canada Inc., a high-tech company, is a leader in the design, development, manufacture and commercialization of advanced plasma processes and products. The Company provides its engineering and manufacturing expertise and its turnkey process equipment packages to customers in the defense, metallurgical, mining, advanced materials (including 3D printing), and environmental industries. With a team of experienced engineers, scientists and technicians working out of its Montreal office and its 3,800 m² manufacturing facility, PyroGenesis maintains its competitive advantage by remaining at the forefront of technology development and commercialization. The Company’s core competencies allow PyroGenesis to provide innovative plasma torches, plasma waste processes, high-temperature metallurgical processes, and engineering services to the global marketplace. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified. For more information, please visit www.pyrogenesis.com.

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward- looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions and are subject to
a number of
risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, the closing and timing of the Company’s public offering. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s ongoing filings with the securities regulatory authorities, including under “Risk Factors” in the Company’s most recent annual information form, which filings can be found under the Company’s profile at www.sedar.com, or at www.otcmarkets.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward- looking statements either
as a result of
new information, future events or otherwise, except as required by applicable securities laws. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the
Toronto Stock Exchange
nor the OTCQB accepts responsibility for the adequacy or accuracy of this press release.

SOURCE PyroGenesis Canada Inc.
For further information please contact:
Rodayna Kafal, Vice President, Investor Relations and Strategic Business Development,
Phone: (514) 937-0002, E-mail: [email protected]
RELATED LINK: http://www.pyrogenesis.com/

¹ https://www.ssab.com/company/sustainability/sustainable-operations/hybrit
² https://ec.europa.eu/clima/policies/strategies/progress_en
³ http://www.vale.com/brasil/EN/sustainability/Pages/carbonneutral.aspx
⁴ M. Huerta, J. Bolen, M. Okrutny, I. Cameron and K. O’Leary, “Guidelines for Selecting Pellet Plant Technology”, Iron Ore Conference 2015 Proceedings, Perth, WA, July 13-15, 2015
⁵ https://www.epa.gov/greenvehicles/greenhouse-gas-emissions-typical-passenger-vehicle 

NEW YORK, Nov. 12, 2020 (GLOBE NEWSWIRE) — Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Tactile Systems Technology, Inc. (NASDAQ:TCMD) from May 7, 2018 through June 8, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Tactile Systems Technology, Inc. investors under the federal securities laws.

To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:  (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile’s medical devices was materially smaller; (2) to induce sales growth and share gains, Tactile engaged in illegal sales and marketing activities; and (3) Tactile’s revenues were in part the product of unlawful conduct and thus unsustainable.

If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff.

Pawar Law Group represents investors from around the world. Attorney advertising. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
——————————-

Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1410  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
[email protected]

WOBURN, Mass. and HARPENDEN, U.K., Nov. 12, 2020 (GLOBE NEWSWIRE) — Yield10 Bioscience, Inc. (Nasdaq:YTEN), an agricultural bioscience company, today announced it has signed a collaboration agreement with UK-based Rothamsted Research to support Rothamsted’s Flagship Program to develop omega-3 oils in Camelina sativa. The technology developed by Rothamsted could enable the sustainable, plant-based production of omega-3 (DHA+EPA) nutritional oils that closely mimic the composition of southern hemisphere fish oil, an important ingredient in aquaculture feed. Omega-3 oils are also essential for human nutrition and have demonstrated benefits in heart health.

Rothamsted Research is a world-leading nonprofit research center based in Harpenden, UK that focuses on strategic agricultural science to the benefit of farmers and society worldwide. Over the last decade, the team led by Professor Johnathan Napier, Ph.D., Science Director, has demonstrated the production of DHA+EPA oils in Camelina seed. In addition, Prof. Napier’s team has carried out multi-year field trials and multiple feeding studies using the DHA+EPA Camelina oil in different fish species including salmon. Under the agreement, Yield10 will provide support to Prof. Napier’s ongoing research including further DHA+EPA trait improvement, field testing and nutritional studies. As part of the agreement, Yield10 has an exclusive two-year option to sign a global, exclusive or non-exclusive license agreement to the omega-3 technology.

“Yield10 shares our vision for developing Camelina as a commercial crop for omega-3 oils based on a land-based route to production,” said Professor Angela Karp, Rothamsted director and chief executive officer. “Successful commercialization of this technology could have significant benefits, offering sustainable production of an oil essential for nutrition and wellness to consumers, as well as providing crop diversification to growers. Yield10 has described numerous innovations for improving the performance of Camelina and has demonstrated commitment and leadership in the development of Camelina as a new commercial crop. We look forward to advancing our mission of improving sustainable agriculture working with the Yield10 team.”

“Yield10 is developing Camelina as a platform crop for the production of nutritional oils and PHA biomaterials and we believe there is significant market opportunity for omega-3 oils produced in Camelina and the technology developed by Professor Napier and his team at Rothamsted is highly complementary to our development efforts in Camelina,” said Oliver Peoples, Ph.D., president and chief executive officer of Yield10 Bioscience. “The Rothamsted team has successfully illustrated the key steps in a potential path for commercial development for the technology including stably deploying the DHA+EPA omega-3 oil pathway in Camelina, conducting field tests at scale in the UK and Canada, and publishing feeding studies to demonstrate the nutritional properties of the oil. Under this collaboration, we will have the opportunity to further assess the omega-3 oil technology and ongoing progress by Rothamsted while Yield10 continues to focus on developing elite varieties of Camelina and establishing a strategic business plan to identify opportunities for commercial development for this high value oil.”

About
Prof. Napier and
R
esearch
Related to
P
roducing
Omega
-3 oils in Camelina

Prof.
Napier is an internationally recognized leading pioneer in plant biotechnology and an advocate for the power of GM plants to deliver benefits for the public good. He has made key discoveries in understanding the biosynthesis of omega-3 long chain polyunsaturated fatty acids (omega-3 fish oils) in transgenic plants.

Selected


Recent Publications


Napier, J.A., Haslam, R.P., Olsen, R.E., Tocher, D.R., and Betancor, M.B. 2020. Agriculture can help aquaculture become greener. Nature Food 1, 680-683 (2020).

Han, L., Usher, S. L., Sandgrind, S., Hassall, K. L., Sayanova, O. V., Michaelson, L. V., Haslam, R. P. and Napier, J. A. 2020. High level accumulation of EPA and DHA in field-grown transgenic Camelina – a multi-territory evaluation of TAG accumulation and heterogeneity. Plant Biotechnol J. 2020;10.1111/pbi.13385. doi:10.1111/pbi.13385

West, A. L., Miles, E.A., Lillycrop K. A., Han, L., Sayanova, O. V., Napier, J. A. and Calder, P. C. 2019. Postprandial incorporation of EPA and DHA from transgenic Camelina sativa oil into blood lipids is equivalent to that from fish oil in healthy humans. Br J Nutr. 2019;121(11):1235-1246. doi:10.1017/S0007114519000825

Betancor, M. B., Li, K., Sprague, M., Bardal, T., Sayanova, O. V., Usher, S., Han, L., Måsøval, K., Torrissen, O., Napier, J. A., Tocher, D. R. and Olsen, R. E. 2017. An oil containing EPA and DHA from transgenic Camelina sativa to replace marine fish oil in feeds for Atlantic salmon (Salmo salar L.): Effects on intestinal transcriptome, histology, tissue fatty acid profiles and plasma biochemistry. PLoS One. 2017;12(4):e0175415. Published 2017 Apr 12. doi:10.1371/journal.pone.0175415

Usher, S., Han, L., Haslam, R.P. ., Michaelson, L. V., Sturtevant, D., Aziz, M., Chapman, K. D., Sayanova, O. V. and Napier, J. A. 2017. Tailoring seed oil composition in the real world: optimising omega-3 long chain polyunsaturated fatty acid accumulation in transgenic Camelina sativa. Scientific Reports 7 (1), 6570 (2017).

About Rothamsted
Research

Rothamsted Research is the longest-running agricultural research institute in the world. We work from gene to field with a proud history of ground-breaking discoveries, from crop treatment to crop protection, from statistical interpretation to soils management. In 1843, our founders were the pioneers of modern agriculture, and we are known for our imaginative science and our collaborative influence on fresh thinking and farming practices. Through independent science and innovation, Rothamsted has made significant contributions to improving agri-food systems in the UK and internationally. In terms of the institute’s economic contribution, the cumulative impact of our work in the UK was calculated to exceed £3000 million a year in 2015¹. Rothamsted Research is strategically funded by the Biotechnology and Biological Sciences Research Council (BBSRC), with additional support from other national and international funding streams, and from industry. It is also supported by the Lawes Agricultural Trust (LAT).

For more information, visit the Rothamsted website or follow on Twitter @Rothamsted

¹Rothamsted Research and the Value of Excellence: A synthesis of the available evidence, by Séan Rickard (Oct 2015)

About
Yield10 Bioscience

Yield10 Bioscience, Inc. is an agricultural bioscience company developing crop innovations for sustainable global food security. The Company uses its “Trait Factory” including the “GRAIN” big data mining trait gene discovery tool as well as the Camelina oilseed “Fast Field Testing” system to develop high value seed traits for the agriculture and food industries. As a path toward commercialization of novel traits, Yield10 is pursuing a partnering approach with major agricultural companies to drive new traits into development for canola, soybean, corn, and other commercial crops. The Company is also developing improved Camelina varieties as a platform crop for the production and commercialization of nutritional oils, proteins, and PHA biomaterials. The Company’s expertise in oilseed crops also extends into canola, where it is currently field-testing novel yield traits to generate data to drive additional licensing opportunities. Yield10 is headquartered in Woburn, MA and has an Oilseeds Center of Excellence in Saskatoon, Canada.

For more information about the company, please visit www.yield10bio.com, or follow the Company on Twitter, Facebook and LinkedIn.

(YTEN-G)

Safe Harbor for
Forward-Looking
Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical, including, without limitation, whether the technology developed by Rothamsted could enable the sustainable, plant-based production of omega-3 nutritional oils that closely mimic the composition of southern hemisphere fish oil, the fact that Yield10 researchers will collaborate with Prof. Napier and his team on advancing the development of Camelina modified to produce omega-3 nutritional oils, whether successful commercialization of this technology could have benefits, offering sustainable production of an oil essential for nutrition and wellness to consumers, as well as providing crop diversification to growers, and whether there is significant market opportunity for omega-3 oils produced in Camelina, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including the risks and uncertainties detailed in Yield10 Bioscience’s filings with the Securities and Exchange Commission. Yield10 assumes no obligation to update any forward-looking information contained in this press release or with respect to the matters described herein.

Contacts:

Rothamsted Research:

James Clarke, Head of Communications
+44 7964 832719, [email protected]

Yield10
Bioscience
:

Lynne H. Brum, (617) 682-4693, [email protected]

Investor Relations:
Bret Shapiro, (561) 479-8566, [email protected]
Managing Director, CORE IR

Media Inquiries:
Eric Fischgrund, [email protected]
FischTank PR