MONTREAL, Jan. 20, 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$1.28 million (CA$1.85 million) payment representing a portion of an outstanding receivable under PyroGenesis’ existing CA$25+ million DrosriteTM contract with Radian Oil and Gas Services Company.

“The payment announced today is made in accordance with a payment schedule that has been revised over time to better align options to the pressures with the end-client’s operating cash flows created by, amongst other things, increased business opportunities. Our patience has established a level of trust between our client, their new partner, and ourselves which speaks volumes as we expand our offerings in the region, a region that is well funded and has an eye to the future,” said P. Peter Pascali, President and CEO of PyroGenesis.

As previously announced, PyroGenesis contracted with PyroGenesis International LLC (then Drosrite International LLC), which was in turn contracted by Radian Oil and Gas Services Company for an order of seven (7) DrosriteTM aluminum dross recovery systems. The first three systems were manufactured and delivered by the Company and are in full commercial operation for .