MONTREAL, Jan. 14, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), an environmental solutions company that designs, develops
and manufactures plasma waste-to-energy systems and plasma torch
products, announced today that it has secured the ownership rights from
a multinational Mining and Metallurgical Company ("Client"), which has
requested that its name be withheld for competitive reasons, for their
metallurgical powder producing pilot plant.
This state of the art pilot plant is currently located at PyroGenesis'
manufacturing facility in Montreal. PyroGenesis was able to negotiate
a transaction in which they will acquire the equipment from its Client
at no cost to PyroGenesis. The value to design and fabricate this
pilot facility was approximately $2M CAD.
"This opportunity is a natural extension of PyroGenesis' strategy to
focus on niche high value markets that leverage off of PyroGenesis'
core competency of being leaders in plasma based solutions. With the
acquisition of this equipment, PyroGenesis is now in a position to
pursue opportunities for advanced metallurgical powder production, such
as nanoparticles, which is a rapidly growing business area", said P.
Peter Pascali, President and Chief Executive Officer of PyroGenesis.
"Plasma based processes are ideally suited for the production of high
quality and highly traceable nanoparticles and other advanced
materials. The flexibility of the pilot equipment, will allow
PyroGenesis to promote novel processing solutions for a wide range of
advanced materials and powders ranging from light metals to
nano-materials" said Gillian Holcroft, Executive Vice President-
Strategic Alliance for PyroGenesis.
"The appetite to invest in new technologies, especially in the area of
advanced materials, is on the rise with Europe and the United States
leading with over $2 Billion in nanotechnology spending. Our analysis
of this market sector has revealed that the annual growth for these
advanced materials will reach 19 percent p.a. in the Energy Sector and
17 percent p.a. in the Environmental Sector. Applications for
nanotechnology include coatings, catalysts, super-capacitors,
pharmaceutical products and most recently 3D printing." said P. Peter
Pascali, President and Chief Executive Officer of 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
Phone: 514.937.0002