PyroGenesis Canada Inc. announced that, further to its press release dated September 12, 2023, it has received the second milestone payment of approximately $520,000 (US $378,900). This payment is associated with the engineering phase, of the plasma torch contract with a U.S. corporation the "Client", geared to destroy Perfluoroalkyl and Polyfluoroalkyl Substances ("PFAS"). The name of the Client will remain anonymous for confidentiality reasons.

The engineering phase is nearing completion representing a key milestone in PyroGenesis' development of a state-of-the-art plasma torch technology suitable for PFAS removal. PyroGenesis is on track to begin the manufacturing process over the coming weeks. The Company expects to complete the manufacturing phase by the end of the second quarter of 2024.