Business
PyroGenesis Provides 90-Day Cancellation Notice to EarthGrid
Tunneling-related projects can now proceed with other potential clients after 90 days. MONTREA...
About this update from Pyrogenesis Inc.
[{"type":"text","content":"PyroGenesis Provides 90-Day Cancellation Notice to EarthGrid\nTunneling-related projects can now proceed with other potential clients after 90 days. MONTREAL, Dec. 23, 2025 (GLOBE NEWSWIRE) -- PyroGenesis Inc. (“PyroGenesis”) (TSX: PYR) (OTCQX: PYRGF) (FRA: 8PY1), the leader in ultra-high temperature processes and engineering innovation, and a plasma-based technology provider to heavy industry & defense, announces today that is has provided a 90-day notice to EarthGrid that PyroGenesis will end the exclusivity arrangement and cancel the existing master agreement with EarthGrid for tunneling-related projects. As announced in a press release dated January 16, 2024, PyroGenesis had received a non-refundable down payment totaling US$500,000 from a US-based technology company, which PyroGenesis subsequently disclosed as EarthGrid. The non-refundable down payment was made pursuant to a signed Master Agreement between PyroGenesis and EarthGrid and provided for a period of exclusivity, during which EarthGrid expected to secure financing and complete a first statement of work with PyroGenesis. The terms of exclusivity were subsequently extended between PyroGenesis and EarthGrid. Given recent developments, PyroGenesis believes the best route forward is to release both parties from the terms of the Master Agreement and end exclusivity as of the conclusion of the 90-day notification period. At the end of the 90-day period, PyroGenesis will be free to pursue tunneling-related projects with other interested parties. About PyroGenesis Inc. PyroGenesis leverages 34 years of plasma technology leadership to deliver advanced engineering solutions to energy, propulsion, destruction, process heating, emissions, and materials development challenges across heavy industry and defense. Its customers include global leaders in aluminum, aerospace, steel, iron ore, utilities, environmental services, military, and government. From its Montreal headquarters and local manufacturing facilities, PyroGenesis’ engineers, scientists, and technicians drive innovation and commercialization of energy transition and ultra-high temperature technology. PyroGenesis’ operations are ISO 9001:2015 and AS9100D certified, with ISO certification maintained since 1997. PyroGenesis’ shares trade on the TSX (PYR), OTCQX (PYRGF), and Frankfur...