MONTREAL, Nov. 5, 2015 /CNW Telbec/ - PyroGenesis Canada
Inc. (http://pyrogenesis.com) (TSXV: PYR) (OTCQB: PYRNF), 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 received an order for US$
515,271 to, amongst other things, commence testing of a
Tactical Mobile Plasma System used for the Destruction of Chemical
Warfare Agents (the "Order").
As previously announced, PyroGenesis was first engaged by a
multi-national military consortium (together the "Client") to
develop a first of its kind Tactical Mobile Plasma System to be
used for the destruction of Chemical Warfare Agents (the "System"),
such as those being dealt with in Syria.
PyroGenesis was contracted under a two (2) phase project, with
the System expected to be delivered to the Client for testing by
the end of Q3-2015. Testing of the System was originally to be
completed by the Client at their site at a cost exceeding US$
100MM. After inspection by the Client in early September,
PyroGenesis has now been engaged to do the preliminary testing at
its facilities in Montreal,
Canada, with a portion of the initial testing budget
allocated to PyroGenesis.
This new Order will fund a detailed testing program aimed at
demonstrating the technical capabilities of PyroGenesis' System.
Additionally, the Company was engaged to perform engineering
services to enhance the System's capabilities and performance.
"The receipt of this Order involving the performance of a
testing program underscores the Client's satisfaction to date and
highlights the potential of this technology," said Philippe Beaulieu, Senior Project Manager at
PyroGenesis.
Work on this Order is expected to start during Q4-2015 and be
completed by end of Q2-2016 at PyroGenesis' facilities.
PyroGenesis' Client is planning to spend an additional US$ 100MM
for further testing of the System, and should all requirements be
met, the Company estimates that commercial orders may be placed
during the 2nd half 2016.
"This new Order demonstrates the Client's confidence in
PyroGenesis' technology and expertise and confirms the Company's
leadership role as both an innovator of plasma solutions and a
supplier of unique plasma based systems to some of the most
discerning customers in the world," said P.
Peter Pascali, President and CEO of PyroGenesis.
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) and on the OTCQB Marketplace (Ticker Symbol:
PYRNF). 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, or at www.otcmarkets.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, its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the OTCQB accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE PyroGenesis Canada Inc.