ScienceFirst wrote: FanduCH ... That's correct.
From the
65M$ projection, Peter mentioned what was almost a sure thing, so a very conservative estimate.
He also mentioned at that time that it didn't included that 40M$ Drosrite bid. This morning, we know they have advanced on that
40M$ Drosrite issue in terms of level of comfort to qualify among the finalists. Such a win would be telling about the ability to be disruptive in this vertical market for years to come. No doubt.
May 17, 2021:
DROSRITE™
Within the DROSRITE™ offering, the Company is aggressively exploring horizontal growth opportunities. The Company is currently bidding on an RFQ, valued at approx. $40MM (estimated award date: within 3-4 months; estimated time to completion: approx. 15 months). Management notes that it has been very successful in the selection process to date. We consider this project to now have a better than average probability of success, and is an example of a company’s commitment to this strategy.
April 16, 2021: “Although we rarely speak to our pipeline, I feel it appropriate to make an exception under the current circumstances. If we are conservative and define the pipeline as being those contracts where we are either in final discussion as the sole supplier, or in a leadership position in a competitive bid, and if we further narrow the definition by looking only at contracts that are expected to be signed within 6 months, then the pipeline is in excess of $65 million. March 31: DROSRITE™
Within the DROSRITE™ offering, the Company is aggressively exploring horizontal growth opportunities. The Company is currently bidding on an RFQ, valued at approx. $40MM (estimated award date: within 4 months; estimated time to completion: approx. 15 months). Management notes that it has been very successful in the selection process to date, but does not yet consider it to be a high-probability outcome at this stage, and provides such as an example of its commitment to this strategy.
PyroGenesis Signs Agreement with Tier One Global Aerospace Company for Qualification of Additive Manufacturing Powders
“This Agreement with one of the world’s largest aerospace companies is a very significant achievement in further validating PyroGenesis’ additive manufacturing powder offering utilizing our NexGen™ production, which provides significant cost and production advantages,” said Mr. P. Peter Pascali, CEO and Chair of PyroGenesis. “This Agreement has been a long time in the making. The Client has visited our facilities and has evaluated our production process, and both parties have been eagerly awaiting the completion of our NexGen™ production line, which we announced earlier this week. It is important to realize that the qualification process is not only exhaustive and time-consuming, but also quite costly for this aerospace Client which we believe underscores their confidence in the added value and competitive differentiation of our offering. With the previously announced improvements now incorporated into our game-changing powder production line, we are all highly confident in our ability to meet, if not exceed, this Client’s stringent requirements. We fully expect to enter into similar agreements with other major players in the industry over the next several months.” ________________
FanDuCh - (5/17/2021 1:14:19 PM) 65 + 40 millions pipeline possibility
Peter told us earlier that Pyrogenesis potential pipeline contract prospect was approximately 65 millions. With the 40 millions of possible Drosrite contract, that would bring the pipeline prospect to around 100 millions in the next 6 months. Good news will arrived eventually. Fan