MONTREAL, July 21, 2015 /CNW Telbec/ -PyroGenesis Canada
Inc. (http://pyrogenesis.com) (TSX-V: 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
signed a previously announced exclusive marketing license agreement
(the "Agreement") with Yasui Facilities, Inc. ("Yasui") of
Japan.
Yasui is one of Japan's
preeminent Architectural/Engineering firms who works with a
consortium of companies that, amongst other projects, build
incinerators. Yasui provides the local engineering and permitting
expertise that PyroGenesis requires to conclude various contracts
under discussion.
As previously announced, the terms of the Agreement provide
Yasui with an exclusive license to market PyroGenesis' line of
plasma waste processing systems in Japan for a period of five (5) years with an
automatic five (5) year renewal option based on certain performance
milestones.
In exchange for such exclusivity, Yasui will pay PyroGenesis an
exclusivity fee of $1.5MM in one
installment, to take effect upon receipt of the Japanese permit,
which is expected in less than one (1) year. In addition, Yasui
undertakes to pay all costs associated with the Japanese permitting
process, which are estimated to run into the $100,000's, and which
have already commenced. Yasui also undertakes to reimburse
PyroGenesis for future costs incurred in developing the Japanese
market. On the same note, PyroGenesis' Business Development Manager
responsible for the Asian market has been in Japan for the past two (2) months supporting
Yasui's permitting and marketing efforts.
This Agreement has effectively enabled PyroGenesis to bypass the
traditional method of penetrating the Japanese market, which is
usually via local trading houses, and, as such, has allowed the
Company to save a substantial amount in middle-man fees.
"We are currently in discussion with end users for sales of
groupings of products," said P. Peter
Pascali, President & CEO of PyroGenesis, "with each
grouping being independent from one another. For instance, we are
currently discussing groupings of 50 TPD waste treatment systems;
hospital/low level radioactive waste systems; multiple small
transportable mobile systems; and several other niche applications.
We don't expect any of these contracts to close before Q4-2015.
However, we are highly confident that we will close something of
significant value by year end."
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 manufacturing 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). 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.