Business
PyroGenesis Announces Fourth Quarter and Full Year 2024 Results
Quarterly Revenue of $4.22 Million, Up 40% Year-Over-Year. Quarterly Net Income of $145,320...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"PyroGenesis Announces Fourth Quarter and Full Year 2024 Results\n\n\n\n\n Quarterly Revenue of $4.22 Million, Up 40% Year-Over-Year.\n \n\n\n Quarterly Net Income of $145,320.\n \n\n\n Full Year Revenue of $15.7 Million, Up 27% Year-Over-Year.\n \n\n\n Backlog of $54.4 Million, with 87% in U.S. Dollars.\n \n\n\n\n Revenue Growth Expected to Continue as 2025 Opens with Major Global Energy Transition Clients in Aluminum, Aerospace, and Steelmaking\n \n\n\n MONTREAL, March 31, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (http://pyrogenesis.com) (TSX:PYR) (OTCQX:PYRGF) (FRA:8PY1), a high-tech company that designs, develops, manufactures and commercializes all-electric plasma processes and sustainable solutions to support heavy industry in their energy transition, emission reduction, commodity security, and waste remediation efforts, today announces its financial and operating results for the fourth quarter and full year ended December 31, 2024.\n \n\n “On the back of a stronger fourth quarter, PyroGenesis enters fiscal 2025 with continued confidence,” said P. Peter Pascali, President and CEO of PyroGenesis. “The combination of expanding interest for electricity-based power and heating technology in heavy industry processes, increasing demand for key materials such as recycled aluminum where our various technologies provide important melting and heating solutions, and the rising need for commodities such as titanium metal powder, various silica-based substances, and renewable natural gas that the Company’s technologies produce, means the opportunities in front of us are much larger than those behind us. With every quarter’s revenue growth in 2024 beating the previous years’ quarters, and with a $50 million plus backlog of contracts to produce, we are determined to move the company to the next plateau during 2025.”\n \n\n “Like many other companies in the current economic climate, we have experienced cash flow constraints in recent periods,” commented Mr. Pascali. “With a solid backlog in place and continued interest from existing and new customers, we believe we are well-positioned for continued improvements in the upcoming fiscal quarters.”\n \n\n “We have started 2025 with a lineup of important energy transition projects ...