MONTREAL, July 20, 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
the receipt of a $340K down payment
for the supply of its first commercial DROSRITE™ Furnace System
(the "System") to a North American automobile parts manufacturer
(the "Client"), which will be delivered by year-end. The name of
the Client remains confidential for competitive reasons.
As previously announced, this contract was signed last June
based on the successful results of a two-week pilot demonstration
of the DROSRITE™ process at one (1) of the Client's North American
manufacturing facilities earlier this year. The System is
expected to become operational in Q1 2016, and will showcase
the transformative nature of PyroGenesis' DROSRITE™ technology to
an industry that has been plagued by rising electricity costs,
large carbon footprint, and poor environmental legacies. It is
expected that, soon after successful commissioning, the Client will
purchase two (2) additional DROSRITE™ Systems.
DROSRITE™ is a salt-free, cost-effective, sustainable process
for maximizing metal recovery from dross, a waste generated in the
metallurgical industry. DROSRITE™ avoids costly loss of
metal, while reducing a smelter's carbon footprint and energy
consumption, providing an impressive return on investment.
PyroGenesis' patented DROSRITE™ process increases aluminum alloy
recovery from dross and reduces operating costs while at the same
time producing no hazardous byproducts. In comparison, competing
processes have significantly higher operating costs and produce a
hazardous waste that has to be disposed of at additional
cost. PyroGenesis filed a patent for DROSRITE™ in 2012.
"This contract provides PyroGenesis with the crucial reference
plant it has been seeking," said Tom
Whitton, a PyroGenesis Business Development Leader. "With
this first project underway, PyroGenesis can now leverage this
success to market DROSRITE™ to primary and secondary aluminum
smelters as well as large finished goods manufacturers primarily in
the transportation sector."
"With over 53 million metric tonnes of aluminum produced in 2014
by primary smelters alone, and recognizing that dross is being
produced at all steps of aluminum production and transformation,
the opportunity to deploy our DROSRITE™ technology is vast," said
Pierre Carabin, PyroGenesis'
Director of Engineering. "When one factors in rising electrical
costs, the DROSRITE™ process provides a quick return on investment
while ensuring no hazardous residue legacies which have plagued
this industry for years."
"DROSRITE™ successfully addresses a serious need within the
aluminum industry, and underscores the success of our strategic
plan to target high value niche problems," said P. Peter Pascali, President & CEO of
PyroGenesis. "The market for our patented DROSRITE™ process is in
the hundreds of units, representing over $300 million in potential demand from primary
aluminum plants alone. This does not include any revenues
arising from secondary and tertiary markets, which could easily
double this number."
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.