Food for thought So here's PyroGenesis, a company developing new technology to reduce ghg and improve the process of recycling alluminum dross. This little company from Montreal is trying to convince the biggest alluminum producers in the world. These billion dollar producers are skeptical I would think. After all they are billion dollar companies spending 100's of millions to reclaim this alluminum from the dross leftover from the manufacturing process. Why would they believe this little company could do what they say can?
Pyrogenesis first convinced a couple smaller world players to purchase and try their new technology which proved to be successful. Not just successful but exceeded customers expectations.
Fast forward a couple years and PyroGenesis is gaining traction. The biggest players agree to try this new process and give this little company a try. They placed a $25 million order for 7 drosrite systems. After receiving 3 of the systems and paying approximately $18 million of the $25 million, something happened, not something bad. Something good.
They were so impressed with how well these systems performed they approached the ceo with a plan. They basically said something like, we would like to expand our partnership, and made a proposal that that would not only benefit them but benefit pyrogenesis. Benefit pyrogenesis for years to come. Meanwhile pyrogenesis was still perfecting different processes to deal with even more alluminum by products . These new processes (valorization), kept expanding and changing the the parameters of the partnership.
So one of the things that was asked of the ceo was to hold off sending the last 4 systems as part of this new and expanding partnership. The ceo (Peter) taking everything into consideration felt that by changing the business plan that they had envisioned, they could actually achieve much more and in a shorter period of time by going this way. Whatever the outcome of this partnership, you can believe it will be worth the wait and will benefit the company and shareholders at the same time.
Sorry for the long post, just wanted to give a little background on the drosrite deal with radian.