C$745,000 Plasma Torch System Contract with European Entity PyroGenesis Announces Can$745,000 Plasma Torch System Contract with European Entity
posted on Oct 23, 2018 08:35AM
MONTREAL, Oct. 23, 2018 -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V: PYR), a TSX Venture 50® high-tech company, (the "Company", the “Corporation” or "PyroGenesis") a Company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch systems, announces today that it has been awarded a plasma torch equipment contract from a European entity (the "Client"), the name and origin of which is not disclosed for competitive reasons.
This contract, with a value of €497,000 (Can$ 745,000) will require PyroGenesis to manufacture and deliver a plasma torch system to test certain novel concepts.
“Final delivery is scheduled for Q2-2019,” said Mr. Massimo Dattilo, Vice President, Sales of PyroGenesis. “The Client will test certain novel concepts which will complement the Company’s strategy of developing cutting edge technologies and continue to produce game-changing processes. PyroGenesis shall have access and the right to use, on a worldwide, royalty free basis, any development or Intellectual Property (“IP”) arising from the work done by the Client, together with a right of first refusal on all future IP developed by the Client.”
“Extending our relationships with cutting-edge centers around the world fits well with our strategy to be the best plasma company in the world,” said Mr. Pierre Carabin, Chief Technology Officer and Chief Strategist of PyroGenesis. “By entering into such relationships, we leverage off of other people’s facilities/expertise and, as such, accelerate our growth.”
“PyroGenesis has one of the largest, if not the largest, concentrations of plasma expertise under one roof, and over the last two decades, we have successfully developed and commercialized plasma-based processes across several well-chosen industries,” said Mr. P. Peter Pascali, President and CEO of PyroGenesis. “This contract underscores the significant advantages in PyroGenesis offerings: the fact that plasma torches and plasma-based systems are our core competency.”
About PyroGenesis Canada Inc.
PyroGenesis Canada Inc., a TSX Venture 50® high-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 9001:2015 certified, and have been since 1997. PyroGenesis is a publicly-traded Canadian Corporation on the TSX Venture Exchange (Ticker Symbol: PYR) and on the OTCQB Marketplace. For more information, please visit www.pyrogenesis.com
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.
For further information please contact: Clmence Bertrand-Bourlaud, Marketing Manager/Investor Relations, Phone: (514) 937-0002, E-mail: ir@pyrogenesis.com
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