Plasma torches briefFrom a previous post I wrote a few days ago that is at the end of this post (in case anyone wants to chech dates or NR in Pyrogenesis website), I am going to make a brief:
- The 01-07-2019 PyroGenesis Announces Winning Tender for the torch for Sweden. The 03-04-2020: PyroGenesis Successfully Completes all Torch Tests. So it took 9 months from winning the tender to complete the tests once the torch installed in Sweden. That means manufacturing, shipping, installation, commissioning and testing the torch.
- Assuming a timing similar for the torch signed with client A on the 11/24/2020, I would say that torch is up and running, because 13 months have passed. So, in case succesful testing, that order of torches might be close to be done. Let´s not forget about all going on all over the world: the pandemic, any kind of delays in supplies, decisions, contracts...
- The 09/14/2021 the order of 4 torches was announced. After 3 months, I do not know if those torches are about to be ready to shipment, beeing installed or up and running. But I guess things are going on well. Again, let´s not forget about all going on all over the world.
- Let´s remind that Vale and Rio Tinto have mentioned plasma torches and we all assume those are client A and B.
- The further we go ahead in time, the closer we are to sign contracts. When that contract from client A or B to supply more torches after testing the ones they got arrives, that will be the confirmation that this bussiness line works and is massive. Pyrogenesis has the PATENT for iron ore pelletization fossil fuel changover into plasma torches.
- We still can have the surprise of client C getting an order to try a torch. Or maybe they just wait until Client A or B make the next order after testing, that would demonstrate the technology works. To be honest, would make sense for them to just wait.
- Peter already said that plasma torches orders from client A and B would not be likely made in 2021. So, to me, is not getting delayed in this.
The source of this info is the NR from PYR website. Let´s see the dates and progress of the torch sent to Sweden:
-
01-07-2019: PyroGenesis Announces
Winning Tender (>CAD $1MM) for 900 kW Plasma
Torch System Sale.
- 01-17-2019: PyroGenesis Signs Previously Announced >$1M Contract
for 900 kW Plasma Torch System Sale
- 09-18-2019: PyroGenesis Successfully Completes 900-kW Plasma Torch Factory Acceptance Testing; Receives Payments Totaling $936,000;Torch Shipped to Sweden.
- 10-17-2019: PyroGenesis Successfully Completes 900-kW Plasma Torch
Site Acceptance Test at RISE Energy Technology Center AB’s Facility.
03-04-2020: PyroGenesis Successfully Completes all Torch Tests for
RISE Energy Technology Center AB.
So, it took 15 months from getting the contract to ending the test. And bashers want to sell 36 torches in a few months? Do you think a torch is a candy, a bycicle or a scooter? We are talking about a high technology disrupting machine and a contract worth millions.
Lets see the client A, B and C development. 2 months after the succesfully sweden torch trial finished, got the first NR from cliente A:
- 03-30-2020: PyroGenesis Successfully Completes First Phase of Torch Modelling Geared to
Reducing Greenhouse Gases for Major Iron Ore Pelletization Client A
05-19-2020: PyroGenesis Enters Negotiations for Supply of Equipment with Iron Ore
Pelletization Modeling Client.
06-11-2020: PyroGenesis Signs Second Modelling Contract with New Iron Ore Pelletization Client B
07-02-2020: PyroGenesis Provides Update on its Iron Ore Pelletization Torch Business. In this one Peter says he expects the first iron ore order for Q3. It finally got it on 11-24-2020. THERE WAS A LITTLE DELAY OF A FEW MONTHS, BUT THEY DELIVERED. A few months in this kind f technology and contracts means nothing at all.
11-12-2020: PyroGenesis Provides Update on its Iron Ore Pelletization Torch Business.
11-24-2020: PyroGenesis Signs Initial Plasma Torch
Contract with Major Iron Ore Producer
Client A. 06-03-2021: PyroGenesis Announces Request for Cost Estimate from Major Iron Ore Producer for Thirty-Six Plasma Torches Validation Continues.
09/14/2021: PyroGenesis Announces $6 Million
Torch Order with Another Major Iron Ore Pelletizer
Client B.