OIL & GAS
We are proud that the government recognizes and supports the new generation of companies at the source of green growth in Quebec, specifically in the circular economy of plastics, a global issue that provides international growth opportunities. Through talents, technological know-how and geographic positioning, Quebec is a strategic location to support our growth and development.Jocelyn Doucet, CEO of Pyrowave
According to a news release from Pyrowave, the purpose of the ESSOR program is to accelerate the growth of Quebec companies in a circular economy. The company attributes the program’s investment to a series of projects it recently announced, such as a joint development agreement with Michelin, Clermont Ferrand, France.
The company says the loan will support a team of researchers in addition to attracting and retaining employees. As part of this financing, Pyrowave also will repatriate its head office to Quebec to consolidate its operations.
The recycling technology of certain plastics developed by Pyrowave has a tremendous potential to reduce Quebec’s environmental footprint and promote our know-how internationally.Pierre Fitzgibbon, minister of the economy and innovation for the National Assembly of Quebec
Pyrowave says its technology platform uses microwaves to manufacture chemicals efficiently and with a lower carbon release than traditional processes because it uses electricity. This reduces the environmental impact of products and reduces the waste generated by traditional processes.
By continuing its development within its Microwave Technology Centre of Excellence, Pyrowave says its technology can become a platform for the next generation of sustainable processes through a portfolio of patents, contributing to a lower carbon manufacturing industry.