MONTREAL, July 28, 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, announces today
that it has received USD $917,532 as final payment for the
second, and final, phase of the $2.2
million plasma torch contract (the "Contract") previously
announced to an Asian company (the "Client"). The Client's name and
origin remain confidential for competitive reasons.
This Contract is for the design, manufacture and delivery of a
fully automated plasma torch system comprised of eight (8) air
plasma torches to be used for waste gasification. The first phase
of this Contract was successfully completed and shipped last year.
The payment announced today represents the final payment for the
last phase of the Contract which is expected to be completed within
eight (8) months.
"This project uses our standard APT™ torches which have been
used for plasma waste gasification by PyroGenesis and its clients
for many years," said Pierre
Carabin, Director of Engineering of PyroGenesis. "Having an
additional client use our torches is a testimony to both our
torches' reliability and superior performance level."
"This announcement highlights the success we are having
penetrating the Asian market," added P.
Peter Pascali, President and Chief Executive Officer of
PyroGenesis. "Having plasma torches operational in Asia will offer the Company an additional
opportunity to showcase our capabilities in this rapidly expanding
market."
In an unrelated matter, the Company announces that it has
granted stock options to acquire up to 100,000 common shares of the
Company (the "Common Shares") to Ms. Sophy
Cesar, Vice-President, Investor Relations and Corporate
Communications. The stock options have an exercise price of
$0.36 per Common Share and are
exercisable over a period of five (5) years. The options are
granted in accordance with the Company's stock option plan and
remain subject to regulatory and Exchange approval.
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. Such statements include but are not limited to
statements about the benefits of trading on the OTCQB, the timing
for approval of the trading of the Company's common shares on the
OTCQB and the possibility that the Company will be accepted for
trading on the OTCQB. 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.