MONTREAL, June 11, 2015 /CNW Telbec/ - PyroGenesis
Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture
50® clean-tech company (the "Company" or "PyroGenesis") that
designs, develops, manufactures and commercializes plasma
waste-to-energy systems and plasma torch products, announced today
that it has received $85,000 as a
progress payment under a previously announced Oil and Gas
project.
This payment was made in relation to the Oil and Gas project
which uses plasma processing of a specific waste stream to recover
valuable metals from it. So far, the Company has proven that the
plasma processing of certain waste streams can not only recover
valuable metals from it, but that there is also a significant 50:1
waste volume reduction, which decreases disposal costs by more than
90%. At this point, data indicates that a $20MM PyroGenesis
system could save the client over $40MM/year by reducing waste
disposal costs combined with generating value from recovered
metals.
The project is 75% complete and represents several years of work
and several millions of dollars invested in proving the technology.
The installation and commissioning is presently underway, and
testing is to commence early July at PyroGenesis' facilities in
Montreal. The total project is expected to be completed by
the end of the summer. If successful, the next step would be
to design, manufacture and supply a commercial system. There
is a current need for a system, or combination of systems, to
process 300 tonnes per day.
"This is an extremely interesting project" said Pierre Carabin, Director of Engineering of
PyroGenesis, "as it taps into significant hidden value. The
PyroGenesis technology at use here not only solves an important
waste problem, but also creates value from that same waste."
"We are extremely happy with the progress and results of this
project to date," said Peter
Pascali, President and CEO of PyroGenesis. "This application
is independent of oil prices. So long as our client is
producing waste from their operations, they will significantly
benefit from deploying PyroGenesis' patented system."
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® clean-tech company,
is the world leader in the design, development, manufacture and
commercialization of advanced plasma processes. We provide
engineering and manufacturing expertise, cutting-edge contract
research, as well as turnkey process equipment packages to the
defense, metallurgical, mining, advanced materials (including 3D
printing), oil & gas, and environmental industries. With a team
of experienced engineers, scientists and technicians working out of
our Montreal office and our 3,800
m2 production facility, PyroGenesis maintains its competitive
advantage by remaining at the forefront of technology development
and commercialization. Our core competencies allow PyroGenesis to
lead the way in providing innovative plasma torches, plasma waste
processes, high-temperature metallurgical processes, and
engineering services to the global marketplace. Our operations are
ISO 9001:2008 certified, and have been since 1997. PyroGenesis is a
publicly-traded Canadian company on the TSX Venture Exchange
(Ticker Symbol PYR.V). For more information, please visit
www.pyrogenesis.com
This press release contains certain forward-looking
statements, including, without limitation, statements containing
the words "may", "plan", "will", "estimate", "continue",
"anticipate", "intend", "expect", "in the process" and other
similar expressions which constitute "forward-looking information"
within the meaning of applicable securities laws. Forward-looking
statements reflect the Company's current expectation and
assumptions, and are subject to a number of risks and uncertainties
that could cause actual results to differ materially from those
anticipated. These forward-looking statements involve risks and
uncertainties including, but not limited to, our expectations
regarding the acceptance of our products by the market, our
strategy to develop new products and enhance the capabilities of
existing products, our strategy with respect to research and
development, the impact of competitive products and pricing, new
product development, and uncertainties related to the regulatory
approval process. Such statements reflect the current views of the
Company with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time
in the Company's ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com. Actual
results, events, and performance may differ materially. Readers are
cautioned not to place undue reliance on these forward-looking
statements. The Company undertakes no obligation to publicly update
or revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE PyroGenesis Canada Inc.