Vancouver, British Columbia--(Newsfile Corp. - November 18, 2013) - PyroGenesis Canada (TSXV: PYR), an environmental solutions company, reported successful tests of its proprietary technology, which utilizes the intense energy of plasma to gasify and vitrify virtually any type of waste without producing hazardous by-products.
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The company designs, develops and manufactures plasma waste-to-energy systems and plasma torch products. Their technology is different from incineration because it produces a clean synthetic gas from waste, which can be used for power generation.
In the tests, its state-of-the-art Steam Plasma Arc Destruction System exceeded current requirements of 99.9999% destruction efficiency in the destruction of ozone depleting substances. In addition, its technology met all other environmental regulations while operating at full commercial capacity in an industrial setting.
This environmentally friendly and cost effective technology enables a PyroGenesis client to safely destroy ozone depleting substances, specifically halocarbons, at its Laval-based appliance dismantling and recycling plant. The current procedure involves extracting halocarbons during the recycling process and shipping them to the United States for disposal, at significant costs.
It is important to note that certain ozone depleting substances generate 10,000 times more green house gases when compared to CO2 emissions.
P. Peter Pascali, President and CEO stated, "With our commercial scale SPARC technology having far exceeded the performance requirements, we are now positioned to promote this technology on a global basis. Conservative estimates show that there are at least 25,000 tons per year of ozone depleting substances that require destruction. This represents over $100 million of business potential to PyroGenesis with no apparent competition at these destruction efficiencies. This success once again underscores PyroGenesis' ability to provide its clients with cost effective and environmentally friendly solutions."
Current clients include the U.S. Airforce, U.S. Army, Northrop Grumman and Natural Resources Canada.
The company currently trades at $0.10 and with 63.5 million shares outstanding, is capitalized at $6.35 million. For a more information, please visit the company`s website at www.pyrogenesis.com, phone Peter Pascali, CEO at 514-937-0002 or email info@pyrogenesis.com.
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