PyroGenesis signs contract for plasma testing

Executive Summary

• PyroGenesis Inc. has signed a contract with a leading global battery recycler to test its high-temperature plasma technology for recovering cathode and anode materials from end-of-life lithium-ion batteries.
• The project aims to replace fossil fuel heating with plasma superheating, supporting the client's goal of achieving all-electric operations and a sustainable supply chain for reusable battery materials.
• The client is one of the largest battery recyclers in the world, with extensive R&D proving the recovery potential of key minerals like nickel, cob copper, and lithium.

Key Details

• Contract Scope: Testing of PyroGenesis's plasma technology for superheating materials to recover specific cathode or anode materials from end-of-life batteries.
• Purpose: Using plasma to replace fossil fuel heating during the lithium-ion battery recycling process.
• Timeline: Q4 2025 to Q1 2026.
• Client Profile: One of the largest battery recyclers globally; name and total project value withheld for competitive and confidentiality reasons.
• Strategic Impact: Supports end-customer goals for all-electric operations, reducing reliance on new mining and providing a second life for EV batteries.
• Market Context: Volume of end-of-life lithium-ion batteries is projected to grow from 900 kilotons in 2025 to 20,500 kilotons by 2040 (25% annual growth rate).
• Technical Basis: Client's R&D has proven the recovery potential of key minerals including nickel, cobalt, copper, and various oxides such as lithium.
• Previous Context: This follows negotiations reported in PyroGenesis's second-quarter earnings outlook regarding a North American battery material recycler.

Notable Quotes

• "As the use of lithium-ion batteries increases, and as the previous generation of electric vehicle batteries begin to reach their end of life, it is imperative that closed-loop remediation systems, that can recover viable minerals to produce new battery material, become more widely utilized," said P. Peter Pascali, president and chief executive officer of PyroGenesis.