Snowdrit ... Nice reply to this basher SetToRetire.
You could have added that the 1.8M$ torch maintenance and parts is renewable every 5y. So that's recuring revenues. Knwoing that torches can last approx. 20y, as per Peter, that means that selling 1 torch @1.2M$ would indeed bring 5.2M$ (4 x 1.8M$) in maintenance and parts for the life span of 1 torch! Kowing how many torches that could sell, that becomes interesting.
I know you're trying really hard to discredit PYR. However, get your facts straight.
First off, Peter stated in an interview, that the estimated $3 million per torch is based on a torch price of $1.2 million, and the rest is maintenance and parts. And he was elated to point out that the base price for client A was $1.8 million, rather that $1.2 million. That implies a total of $3.6 million per torch, when you factor in maintenance & parts.
Second, the US Navy deal really is a contract, not an LOI. And the technology is not being tested. The PAWDS system is already on the US Navy ships. PYR is busy producing two new systems for installation on board two new ships. They've already received $4.8 million, and they'll receive the final payment upon delivery. See below. Snowdrift PyroGenesis Canada Inc () (), which designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, has won an $11.5 million contract with the US Navy.
Under the contract, the company said it will provide its waste destruction technology for two systems -- one for each ship in the US Navy’s two-ship build.
In a statement, PyroGenesis said the contract includes a first payment of about $4.8 million. The project should be completed within 18 months, installed on the next Gerald R. Ford-class of US aircraft carriers -- the USS Enterprise (CVN-80) and the USS Doris Miller (CVN-81).