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.
"People embrace plasma gasification and vitrification because it is a
clean technology that doesn't produce any of the usual hazardous by
products such as dioxins and furans. Our process must produce a very
clean synthetic gas in order for it to be used to operate an internal
combustion gas engine. As such the emissions from this same engine are
also necessarily clean. Another benefit of our system is that waste is
"naturally" sorted within the plasma chamber thereby enabling (i)
organics to be transformed into a synthetic gas which is then used to
power a gas engine to produce electricity and (ii) inorganic compounds
to form a non-toxic slag that can be used as a construction material",
said Pierre Carabin, Director of Engineering for PyroGenesis.
About PyroGenesis Canada Inc.
PyroGenesis Canada is an environmental solutions company that designs,
develops and manufactures plasma waste-to-energy systems and plasma
torch products. PyroGenesis' proprietary plasma technologies utilize
the intense energy of plasma to gasify and vitrify virtually any type
of waste without producing hazardous by-products. PyroGenesis' patented
gasification and vitrification technology is different from
incineration because it produces a clean synthetic gas from waste,
which can be used for power generation. PyroGenesis' technology can
also turn waste into a glassy rock that can be utilized as construction
material. PyroGenesis has marquee defense industry and civilian
customers that are using its technology in marine and land-based
applications. For more information, please visit www.pyrogenesis.com
This press release contains certain forward-looking statements,
including, without limitation, statements containing the words "may",
"plan", "will", "estimate", "continue", "anticipate", "intend",
"expect", "in the process" and other similar expressions which
constitute "forward-looking information" within the meaning of
applicable securities laws. Forward-looking statements reflect the
Company's current expectation and assumptions, and are subject to a
number of risks and uncertainties that could cause actual results to
differ materially from those anticipated. These forward-looking
statements involve risks and uncertainties including, but not limited
to, our expectations regarding the acceptance of our products by the
market, our strategy to develop new products and enhance the
capabilities of existing products, our strategy with respect to
research and development, the impact of competitive products and
pricing, new product development, and uncertainties related to the
regulatory approval process. Such statements reflect the current views
of the Company with respect to future events and are subject to certain
risks and uncertainties and other risks detailed from time-to-time in
the Company's ongoing filings with the securities regulatory
authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers
are cautioned not to place undue reliance on these forward-looking
statements. The Company undertakes no obligation to publicly update or
revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE PyroGenesis Canada Inc.
PyroGenesis Canada Inc.
P. Peter Pascali
Chief Executive Officer