RE:PYR previous Factory Acceptance Test was successfulAnd for those who remember..last FAT announced there was contract and payment.
This is huge news today!!!
developbc wrote: Previously FAT was done in PYR facilities and was successfull. This time Peter who is obviously extremely busy appears that he will travel personally to Client A which we know is the giant VALE in Brazi who needs up to 500 torches! - He is NOT going to get a suntan.
"....I look forward to personally participating in the factory acceptance test. I believe this will prove to be a truly momentous occasion for the Company, and one which could potentially be a tipping point for PyroGenesis, as we position ourselves to be the go-to provider of plasma based GHG solutions." From September 2021 News Release :
Given recent sales, and the fact that the torches are expected to last 25-30 years, PyroGenesis has revised the estimated net present value (NPV) of each torch sale to be approx. $7MM (calculated based on 20-year life). This is an increase from previous disclosures wherein the Company estimated that each torch sale could represent a $3MM NPV to the Company. The original figure was based on very conservative estimates which projected the initial torch sale to be between $1-1.3MM with subsequent maintenance and spare parts contracts limited to 5 years.
Extremely exciting times!
Long and strong PYROGENESIS!!
As posted by @cashbag2.0 news release pertaining to the FAT on the first torch sale to rise
MONTREAL, Quebec (GlobeNewswire – September 18th, 2019) - PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX-V: PYR) (OTCQB: PYRNF) (FRA: 8PY), a high-tech company, (the "Company", the “Corporation” or "PyroGenesis") that designs, develops, manufactures and commercializes plasma atomized metal powder, plasma waste-to-energy systems and plasma torch products, announced today that, further to previous press releases with respect to the Swedish torch contract (January 7th, January 17th, and February 21st 2019), the Company has successfully completed the Factory Acceptance Testing (“FAT”) witnessed by RISE Energy Technology Center AB (the “Client”) at PyroGenesis’ facility in Montreal, and has received payments totaling €643,196 (approx. Can$936K).
This Contract, originally announced last January, is for a 900-kW plasma torch system which was won in a competitive bid announced by the Client.
This FAT was held at PyroGenesis’ manufacturing facility where the Client evaluated the equipment during, and after, the assembly process by verifying that the torch was manufactured and operated in accordance with design specifications. After successful testing, the torch was shipped to Sweden, and is expected to arrive today, September 18th. PyroGenesis’ team has arrived at the Client’s facility to perform Site Acceptance Testing (“SAT”), as well as oversee the installation of the torch.