First Non-Military Land-Based Contract
MONTREAL, Oct. 28, 2021 (GLOBE NEWSWIRE) -- PyroGenesis Canada Inc. (https://pyrogenesis.com) (TSX: PYR) (NASDAQ: PYR) (FRA: 8PY), a high-tech company (hereinafter referred to as the “Company” or “PyroGenesis”), that designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions to reduce greenhouse gases (GHG) and address environmental pollutants, is pleased to announce today that it has been selected to provide a $9.2MM land-based system to destroy Perfluoroalkyl and Polyfluoroalkyl Substances (“PFAS”) . The Client is a large operator of public water systems, whose name will remain confidential for competitive reasons.
PyroGenesis was recently informed that, after a competitive bidding process, it had been selected to provide its plasma based thermal process equipment in a two-phase project geared to providing a land-based system to destroy PFAS. The first phase is to provide pilot testing. The second phase is geared to a full fabrication, furbishing and commissioning of a fully commercial land-based system. The time to completion is, from the signing of the contract, approximately 6 months for the pilot system with the timeframe for the full system to be determined based on Phase 1. Work will not begin until a definitive agreement is signed by both parties. PyroGenesis is currently pursuing two additional opportunities within the same State in the USA.
Matches capital funding allocation
In May of 2021, Town Meeting approved capital funding of $9.2 million for the final design and construction of PFAS treatment filter plants. The funds for these treatment plants will have an impact on future water rates, which will be increased by the Water Commissioners/Select Board to fund the construction of the PFAS treatment plants.