PyroGenesis Inc T.PYR

RE:Compare our performance with TEKNA s

[developbc]

Tcheck wrote: We are not doing so badly i believe when we compare ourselves revenue wise to our closest dearest competitor :) TEKNA
additive powders and silicon powders thats where we overlap.
we have many other fields of expertise they are not in .
i don t know what revenues we can expect from additive manufacturing and nanosilicon powders .
time will tell 

Arendal, NORWAY / Sherbrooke QC, CANADA - 11 November 2021) Tekna Holding AS (Tekna, OSE:TEKNA), the world-leading provider of advanced materials to industry, increased Additive Manufacturing production capacity in the third quarter 2021 amid strong global demand and sales accelerating in Europe. Year-to-date total revenue and materials revenue improved 43% and 40% respectively over 2020.

The third quarter of 2021 was characterized by:

 * CAD 5.6 million revenues (-14%) mainly due to fluctuation in the systems deliveries

 * Materials revenue in Q3 grew 10% from Q3 2020, with 77% of sales generated from recurring customers

 * Total order backlog stood at a solid CAD 12 million, of which CAD 8.0 million (5.2 million) came from materials, which represents a 57% increase

 * Adjusted EBITDA of CAD -1.3 million, compared to break-even in Q3 2020 (due to Covid grants)

* Additional atomizer began to operate in Canada, which, along with productivity improvements, increased production capacity by 25% at the end of the quarter.

"While Tekna’s Systems revenue posted a decrease in the quarter, the outlook for Additive Manufacturing, which accounts for approximately 60% of Tekna’s total revenue, remains strong and we’re firing on all cylinders to get production capacity up to meet accelerating demand. Tekna began operating an additional plasma system in the third quarter that, along with productivity improvements, will increase capacity by 25%,” says Luc Dionne, Tekna Holding's chief executive officer.

Revenues for the third quarter posted at CAD 5.6 million from CAD 6.5 million (Q3 2020). The decline is mostly attributable to systems product line revenue that was 42% lower than the same period last year. These revenues are expected to return to yearly run-rates in the fourth quarter 2021. Adjusted EBITDA for the third quarter stood at CAD -1.3 million (CAD 0 million). The variation vs last year is due to a federal emergency grant received in Q3 2020 (CAD 1 million).

In the Printed Electronics segment, the qualification of customers developed positively, and Tekna is on track to secure its first commercial customer in 2022. Tekna has initiated talks with industrial scale-up partners in Asia and gained a new pipeline customer entry in Taiwan. Furthermore, Tekna is pursuing negotiations to lease a production facility in Sherbrooke, Canada, which would provide capacity of up to 25 tons of powder annually by 2023.

In the Energy Storage segment, Tekna’s development is progressing according to schedule and industrial-pilot capacity is expected to be ready in early 2022.  Discussions are ongoing with LG Chem on a second potential joint development agreement involving new research.

“The EV and 5G markets are booming, which is driving the demand for Tekna's nano-size Silicon and Nickel powders. Therefore, we have initiated discussions with several major silane manufacturers to secure our long-term supply,” said Dionne.

Also in the third quarter, Tekna launched its PlasmaSonic systems product line of plasma wind tunnels and integrated diagnostic solutions, targeting civil aviation in the orbital space and hypersonic flight industry, which has an estimated size of CAD 270 billion.

“Leveraging our 30 years of expertise in plasma energy and system design, Tekna PlasmaSonic solutions is able to recreate on Earth the wide range of extreme temperatures and pressures experienced by spacecrafts travelling in the stratosphere, at over 5 times the speed of sound. It is an exciting new segment for us in a rapidly developing industry, in which we see an estimated revenue potential of up to CAD 250 million over the next 10 years,” said Dionne.

"Looking ahead, all the market indicators we are monitoring continue to be positive and Tekna's ambition to grow 2020 materials revenues of CAD ~13 million to a production run-rate of CAD ~22 million in 2021 is within reach," Dionne added.

Tekna will present its financial results for the third quarter 2021 on Thursday 11 November, 2021, at 13:00 CET. The investor presentation will be live streamed and be hosted by Luc Dionne, CEO of Tekna Holding. The presentation will be held in English and questions can be submitted throughout the event.

]This has been discussed numerous times already...so again reposting:

Bernard did say many will make claims but the ones that might possible have the ability - can't do it cheap enough. Tekna is no where near..not even close. Here is good read where Tekna is mentioned in this very good read https://pubs.rsc.org/en/content/articlehtml/2020/na/d0na00589d $hpq on why the barriers to large scale silicon nano powders is very significant and hard to scale. Hence why HPQ and PYR are well position w PUREVAP QRR / PUREVAP NSIR as they publicly stated numerous times they are confident they will be scale this more economical than anyone and are 5-6 years ahead of everyone trying.

Here is post by @MidtownGuy I had posted this prior on SH about Tekna:
There are indeed other companies around the world that use plasma to make metal powders. The demand is expected to be so great that a multitude of suppliers will be needed. For various reasons, these suppliers differ in the extent of their competitiveness.

The key difference is in technology and feedstock, but also includes volume potential and price potential.

TECHNOLOGY

Tekna, for instance, uses a plasma technology called "inductively coupled plasma" (ICP), which requires electro-magnets to help create the arc.

PYR uses a reverse polarity plasma torch based on a technology called "DC non-transferred plasma".

While there are pros and cons to each technology, the DC non-transferred technology is generally considered more readily available at higher powers, offers more stable operation, less "flicker", and better control.

FEEDSTOCK

Tekna's nano-powder process seems to require that they start with existing higher purity metal powders (or create the base powder first), which is more expensive right out of the gate, before then conducting another process to make the spherical or nano-powders.

PYR's process allows them to use a cheaper and lower-purity product, raw metal wire -- then bypassing the entire step of first having to convert it to base powder. PYR goes right from raw wire to high-purity spherical or nano-powder.

PRICE AND VOLUME

Theoretically, the expectation of the PYR Purevap process is that it should significantly reduce the cost of making powders simply because it uses cheaper raw material. If all goes as expected, Tekna can't appear to compete on the raw material cost.

As for volume, again because of the use of lower cost raw wire, the avoidance of the additional step, and PYR's stated ability to replicate the process by creating additional reactor towers as needed, it appears they can eventually surpass the volume of most if not all nano-powder creators.

Here is post re: another response by PYR CEO regarding 6k where Tekna is mentioned:
 Hey guys here is previous answer from Pyrogenesis CEO response regarding 6K 3D powder competition :

https://agoracom.com/ir/PyroGenesisCanada/forums/discussion/topics/735375-6k-additives-vs-pyr/messages/2254648#message

Dear Topseeker,

Thank-you for your question.

Please do not interpret the delay in getting back to you as anything untoward with this name.

6K? We know them well. They approached us awhile back as their former self looking for help with their reactor.
They were known as Amastan until a few months ago (https://www.3dprintingmedia.network/amastan-rebrands-6k-launches-sustainably-sourced-metal-am-powders/).

It is an interesting technology but, in my opinion, with some significant challenges to development and ultimately commercialization. I do not see them as competition.

The technology is a spheroidization technology based on microwave plasma. It seems similar to the Tekna spheroidization technology, and they definitely seem to be targeting Tekna as their main competitor: “Low OpEx: 99% microwave-to-plasma coupling efficiency, over double that of ICP plasma systems.”

Interestingly enough, their technology still seems to be at a relatively early stage of development which surprises me: (https://www.6kinc.com/about/news/news/press-release/6k-demonstrates-custom-engineered-metal-alloy-powders-for-additive-manufacturing-at-formnext/

Ultimately, I believe, it will have the same challenges as the Tekna technology: potential loss of aluminum in the alloy, difficulty of obtaining uniform spheroidization of all particles at high yield (particles will see different areas of the plasma zone and have different residence time).

A significant challenge to commercialization/profitability is that 6K, unlike PyroGenesis, relies on angular Ti64 powder feedstock to spheroidize which is a huge problem. One challenge is in finding -45/+15µm Ti64 grade 23 material (i.e. < 1300ppm of Oxygen), which is virtually impossible to secure, let alone on a consistent basis. PyroGenesis does not use hard to find powder as a feedstock, but wire. At PyroGenesis, we use plasma atomization to convert high purity wire into high purity powder. This method has demonstrated time and again to be the most economical and efficient way to produce spherical Ti64 grade 23 powder that is ideally suited for Additive Manufacturing (AM).

As a side note, allow me to point out that the largest demand from the AM market is from the SLM size cut (namely, -45µm/+15µmt). As I said, securing -45µm/+15µm angular feedback with sufficiently low oxygen is virtually impossible to obtain consistently.

Hope that helps,

Peter