PyroGenesis Announces a Binding Signed Contract to Acquire its Turcot Manufacturing Facility

PyroGenesis has signed a binding agreement to acquire its Turcot manufacturing facility in Montreal for $3.1 million. The out-of-court settlement ends litigation that began in 2022, when the company exercised an option to purchase the property for $2.75 million. The 40,902‑square‑foot facility houses manufacturing, R&D, pilot‑plant systems, metal‑powder production, testing apparatus and offices. At $76/sq. ft., the purchase price is well below the local market rate of about $250/sq. ft. The company intends to initiate sale‑leaseback discussions; proceeds would be used to accelerate projects across its various businesses.

The most recent news resolves a long‑standing legal overhang and locks in ownership of the company’s key operating site. Securing the asset below market value is a minor win, and a successful sale‑leaseback could inject much‑needed cash without diluting shareholders. However, the deal does not generate new revenue, does nothing to address the company’s persistent losses, and the planned leaseback actually signals that PyroGenesis still has a short‑term need for capital. In the context of the stream of capital raises (private placements in October 2025, March 2026) and a 63% year‑over‑year revenue decline in Q4‑2025 / full‑year 2025 losses of $14.8M, the property purchase is a housekeeping event, not a strategic shift. For investors, the resolution is mildly positive—it removes a legal distraction and may unlock liquidity—but the underlying financial picture remains fragile.

PyroGenesis is a Montreal‑based industrial plasma technology company. It designs, builds and deploys plasma‑based systems for high‑temperature industrial processes. The company’s flagship technology platforms include:

• NexGen™ plasma atomization: Produces titanium metal powders for additive manufacturing (aerospace, defense, medical). A multi‑year certification process with a global aerospace leader was completed in late 2025, and initial orders (0.5‑tonne coarse, fine‑cut, off‑cut) have been shipped.
• Plasma torches for energy transition: Electric‑powered torches that replace natural‑gas burners in aluminum remelting (Constellium, Rio Tinto/Alcoa trials) and cement calcination ($1.3M contract with a European cement company). Trials show energy savings up to 35%, reduced dross, and lower hydrogen content in metal.
• Fumed Silica Reactor (FSR): A single‑step process converting quartz to commercial‑grade fumed silica. In a JV with HPQ Silicon, a 1,000‑tonne‑per‑year plant is planned; pilot‑scale results have achieved surface areas of 191 m²/g, meeting grade‑150 specifications.
• Waste processing: PACWADS (chemical weapon destruction) and SPARC (refrigerant destruction). A $6M contract to build New Zealand’s national refrigerant destruction facility is a standout project.
• Battery materials: Proprietary plasma processes have produced battery‑grade graphite from carbon black and battery‑grade carbon black/hydrogen from methane. A large battery recycler has successfully tested plasma‑based mineral recovery.

The company operates from its owned (now acquired) Turcot facility in Montreal, without royalties on its properties.