PyroGenesis delivers 4.5 MW plasma torch to U.S. client

Executive Summary

• PyroGenesis Inc. has successfully delivered a 4.5-megawatt (MW) plasma torch system to a major U.S. aeronautics and defense client, fulfilling a contract valued at approximately $4.13 million.
• The delivery triggers recent invoicing of $1 million, with installation, start-up, and testing scheduled to commence upon the arrival of remaining peripheral components and power supply in the coming weeks.
• This delivery marks a significant technical milestone, representing a substantial increase in power capacity from previous systems (900 kW in 2020 and 2.5 MW in 2022) and serves as a foundation for a future 20 MW plasma torch project.

Key Details

• Product Delivered: 4.5 MW plasma torch system and related peripherals.
• Contract Value: Approximately $4.13 million ($3.13 million U.S.).
• Client Profile: A U.S. corporation serving as a prime contractor for the U.S. government and public/private customers in aeronautics and defense; described as an innovation hub with unique full-scale test conditions essential to U.S. national security.
• Project Status: Engineering, fabrication, and assembly were completed prior to this announcement. Delivery has occurred; installation and start-up are pending arrival of remaining components.
• Financial Impact: Recent invoicing of $1 million triggered by the delivery milestones.
• Technical Context: The 4.5 MW system is the highest-powered platform to date for PyroGenesis, significantly exceeding the 900 kW system (2020) and 2.5 MW system (2022).
• Future Outlook: The delivery lays the groundwork for a 20 MW plasma torch, which was ordered by the same client in October 2024 and is projected to be the largest commercially produced plasma torch.
• Previous Guidance: The project was previously outlined in the Q3 2025 earnings report (dated Nov. 11, 2025), with estimated delivery and start-up targeted for Q1 2026.

Notable Quotes

• "The completion and delivery of the 4.5 MW plasma torch underscores our ability to continuously raise the bar with respect to plasma power, and as a result expand the role of plasma-based solutions into increasingly demanding applications across heavy industry, aerospace and defence." — P. Peter Pascali, CEO and President.
• "The successful delivery of the 4.5 MW torch marks another important threshold in our technical evolution. Importantly, it also lays the groundwork for the next major achievement, namely a scale-up to a 20 MW plasma torch... which our research shows will be the largest plasma torch ever produced commercially." — P. Peter Pascali, CEO and President.