T.PYR,
GRNA | December 2, 2013 MONTREAL, Dec. 2, 2013 /CNW Telbec/ - PyroGenesis Canada Inc. ("PyroGenesis" or the "Company") (TSXV: PYR), an environmental solutions company that designs, develops and manufactures plasma waste-to-energy systems and plasma torch products, is proud to announce today that it has reached an agreement to deliver its patented Plasma Waste to Energy system to a European entity; secured by a significant non-refundable down-payment. The 10 TPD system is scheduled to be delivered in 2014 where it will be used on a commercial basis to transform costly industrial waste into electrical energy and usable by-products.
"This indeed is a watershed moment for the Company. This sale not only expands our customer base beyond the traditional US military, but does so in a market place that is in dire need of a reliable, cost effective and sustainable waste management solution. We have been targeting the lucrative European market for years now and believe this European sale is the first of many to come. PyroGenesis is the only plasma company that has successfully demonstrated its technology at a small scale; a technology which is readily scalable for larger waste to energy projects. To say the business potential for PyroGenesis in Europe is in the hundreds of millions of dollars would be an understatement." said P. Peter Pascali, President and CEO of PyroGenesis.
In 2010 PyroGenesis delivered its first Plasma Waste to Energy System to the US Air Force which was accepted by the military in 2011. The system is designed to transform all types of waste (without the need for pre-sorting) into useful products (electricity and construction material) without generating any hazardous by-products. This capability has particular resonance within the European marketplace where the options for conventional land-fill are limited and the cost for destruction of industrial and hazardous waste is extremely high.
"PyroGenesis' technology has a patented two step approach which not only makes it a cost effective technology but increases its reliability and flexibility in handling varying waste feed streams. It can also be a NET Energy Producer even at very small capacities. Our customers can generate revenues from (i) the tipping fees for the waste being processed, (ii) the sale of excess electrical energy to the grid, (iii) the sale of the glassy rock (slag) as construction material, (iv) the resale of recovered metals and in addition (v) because the technology reduces green house gases the operator can benefit from carbon credits where applicable," said P. Peter Pascali, President and CEO of PyroGenesis.
"What is truly amazing is that we have yet to tap into the added value of our by-products, such as the glassy rock and recovered metals. For example, if the glassy rock is used as an aggregate for construction then it can be worth as much as $50 per ton depending on the location. If however the glassy rock can be used as a replacement for cement then the value can increase substantially to several hundred dollars per ton. Similarly, waste streams can also contain valuable metals which could be recovered using our technology", said Gillian Holcroft, Executive VP, Strategic Alliances for PyroGenesis.
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10 years
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