PyroGenesis Inks JV Agreement To Convert Aluminum Dross Residues Into Chemical Products

PyroGenesis Canada Inc PYR has signed joint venture and license agreements with a residue processor to transform dross residues into high-value chemical products.
The 50:50 JV will be geared towards building, installing, and operating dross residue valorization facilities worldwide.
Through the JV, PyroGenesis has secured an exclusive license to a patented technology expected to convert dross residues into high-value chemical products.
Under the terms of the JV, the exclusive access to the technology initially applies to projects in North America and the Gulf Cooperation Council nations.
The first plant, which will be built after securing a contract to process dross residues, has been identified within the Gulf Region. Discussions to secure and process those residues have taken place, the company noted.
Price Action: PYR shares closed higher by 4.26% at $4.16 on Monday.