Pyrogenesis Canada (
TSX: V.PYR,
Forum) capitalized on another growing market opportunity when the company announced today that it would produce specialty powders for the Additive Manufacturing (AM) industry, more specifically the explosive 3D printing segment.
The company’s Plasma Atomization Process (PAP), which it has filed a provisional patent for, creates highly flowable and very pure spherical metallic powders which are premium characteristics when it comes to AM applications.
According to the
news release, PAP enables the company to produce metallic powders at higher production rates while allowing for better control of powder size distribution, keeping Pyrogenesis ahead of the curve when it comes to the growing demand in 3D printing for such increased production of a specific particle size distribution.
Company President and CEO, P. Peter Pascali, commented, “While delivering the first of ten (10) Plasma Atomization Systems to a client, an opportunity arose to test certain parameters which PyroGenesis identified as having the potential of improving both the production rate and purity of the powders.”
He went on, “The decision was taken, with the customer, to strategically delay delivering the first system to allow for this testing. This strategic delay not only resulted in a patent application by PyroGenesis, but paved the way for PyroGenesis to consider producing powder for 3D printing on its own.”
The company felt it could be up and producing powders within nine months with a total investment of $1.7 million, generating an estimated $10.0 million in yearly profit from powder sales alone.
In other news,
Montreal-based Pyrogenesis Canada released a general corporate update and history later this morning.
Shares were up 8.70% on the news to $0.25 per share.
Currently there are 84.8m outstanding shares with a market cap of $21.2 million.
FULL DISCLOSURE: Pyrogenesis Canada is a Stockhouse Publishing client.