PyroGenesis Inc. has delivered a new system to convert contaminated biomass into syngas at Innofibre's new $14 million pilot and pre-commercial facility in Quebec. The technology, part of a collaborative project with Innofibre – Centre d'innovation des produits cellulosiques, aims to reduce dependence on fossil fuels and support decarbonization efforts by treating contaminated biomass feedstock. The facility is the only one of its kind in North America equipped to operate under conditions mimicking industrial production.

The system delivered by PyroGenesis will convert contaminated biomass into synthesis gas (syngas), which can be used to generate electricity or produce chemicals, fertilizers, methanol, ammonia, and synthetic fuels. Contaminated biomass may contain paint, solvents, and other chemicals such as melamine, often mixed into biomass in landfills or added during wood product manufacturing. PyroGenesis' high-temperature waste-to-energy gasification technology allows for the treatment of these contaminants in the produced syngas.

Innofibre's facility is focused on accelerating the development and commercialization of innovative solutions related to the forest industry and agricultural biomass. The centre's goals include bio-based products, biomaterials, biochar, waste valorization, decarbonization, and tailings recovery. The official opening of the facility included speeches by Jean Boulet, Quebec's Minister of Labour and MNA for Trois-Rivières, and representatives from funding partners Canada Economic Development and the Fonds du Grand Mouvement Desjardins.

Key Project Details

P. Peter Pascali, President and CEO of PyroGenesis, congratulated the Innofibre team on the opening of the facility. He emphasized the centre's importance in commercializing Quebec-based innovations for the bioeconomy, decarbonization, and forestry sectors. PyroGenesis expressed its commitment to a continued partnership with Innofibre to bring new technologies and products to global markets while contributing to a greener economy.

P. Peter Pascali, President and Chief Executive Officer of PyroGenesis, has increased his ownership in the company to 30.34% by acquiring 5,882,352 units through a non-brokered private placement. The transaction, completed on June 8, 2026, involved the purchase of units comprising one common share and one common share purchase warrant each. This acquisition raises Pascali's total beneficial ownership to 68,415,109 common shares, representing a significant increase from his prior holding of 28.48%.

Prior to the transaction, Pascali beneficially owned and controlled 56,805,357 common shares, representing 25.87% of the issued and outstanding shares. Additionally, he controlled 5,636,000 common shares as the executor of the estate of Petros P. Pascali and 91,400 common shares beneficially owned by The 2% Solution Foundation. These holdings, combined with the new acquisition, solidify his position as a major shareholder in PyroGenesis.

Ownership Details

The following table outlines Pascali's ownership structure before and after the transaction:

Additional Securities and Potential Ownership

Pascali also holds options and warrants that could further increase his ownership. He beneficially owns and controls options to acquire 3,570,000 common shares, of which 3,495,000 are vested. Additionally, he holds 11,130,572 warrants to acquire common shares. If all vested options and pre-closing warrants are exercised, his total ownership would increase to 77,158,329 common shares, or 32.94% of the issued and outstanding shares.

Assuming the exercise of all vested options, pre-closing warrants, and the completion of the transaction, Pascali's total ownership could rise to 88,923,033 common shares, representing 36.15% of the issued and outstanding shares. The Trust, the Estate, and the Foundation may be considered joint actors with Pascali, who serves as trustee, executor, and director, respectively.

An updated early warning report (Form 62-103F1) has been filed and is available under PyroGenesis' SEDAR profile. Pascali and any joint actors may acquire or dispose of securities depending on market conditions and other factors.