PyroGenesis provides update on recent contract to supply SPARC in New Zealand

PyroGenesis Canada announces that, further to its Client’s Press Release dated February 4, 2023, and PyroGenesis’ Press Releases dated January 10, 2023 and September 13, 2022, the Company can now provide important additional information on its recently signed contract for the purchase of its SPARC refrigerant waste destruction system by its Client in New Zealand. The Company’s SPARC system has been purchased as the core technology for New Zealand’s national hazardous refrigerant collection and destruction initiative, the government-mandated organization known as Cool-Safe. Cool-Safe’s mandate is to be a significant factor in the government of New Zealand’s stated goal to reduce their greenhouse gas emissions by 2035 by at least 35%. This will be achieved by implementing their own 90% reduction target for hazardous refrigerants. "When we originally announced this contract, we were limited in what we could reveal. Given their latest press release we can now confirm that our Client is a very large, government-mandated organization serving the whole of New Zealand, and is comprised of not just one, but nine advanced materials/chemical trading companies working together," said P. Peter Pascali, CEO and Chair of PyroGenesis. "As with most Product Stewardship Organizations, these companies have been given the responsibility to oversee, in this case, the safe removal and disposal of the hazardous products they either manufacture or distribute. The nine companies within the Cool-Safe organization are significant players in their own right and include four that are large publicly traded multi-nationals and six that are 50+ years old."