PyroGenesis Provides 90-Day Cancellation Notice to EarthGrid

Core Viewpoint - PyroGenesis Inc. has announced the termination of its exclusivity arrangement with EarthGrid, allowing the company to pursue other tunneling-related projects after a 90-day notice period [2][4]. Group 1: Agreement Details - PyroGenesis provided a 90-day notice to EarthGrid to end the exclusivity arrangement and cancel the existing master agreement for tunneling-related projects [2]. - A non-refundable down payment of US$500,000 was received from EarthGrid as part of a signed Master Agreement, which initially included a period of exclusivity [3]. - The exclusivity terms were extended previously, but recent developments led PyroGenesis to believe that releasing both parties from the agreement is the best course of action [4]. Group 2: Company Background - PyroGenesis is a leader in ultra-high temperature processes and plasma-based technology, serving heavy industry and defense sectors [2]. - The company has 34 years of experience in plasma technology and provides advanced engineering solutions across various industries, including aluminum, aerospace, and military [5]. - PyroGenesis operates from its headquarters in Montreal and maintains ISO 9001:2015 and AS9100D certifications, with ISO certification held since 1997 [5].