MONTREAL, Jan. 21, 2014 /PRNewswire/ - 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 been awarded a contract from a
Global Oil & Gas Company ("Client"), whose name has been withheld for
competitive reasons. This contract will determine the cost benefit of
integrating PyroGenesis' plasma based technology within the Client's
existing industrial operation. This is the third contract awarded to
PyroGenesis in the past nine months within the Oil & Gas sector; all of
which have been geared towards finding novel plasma based solutions to
problems that have been challenging this industry.
PyroGenesis is a leader in introducing novel plasma solutions into high
value niche markets. Recent successes include an order and re-order
from the US Navy for a PyroGenesis Plasma Waste Destruction System, the
acceptance of PyroGenesis' Plasma Waste to Energy System by the US Air
Force, the sale of PyroGenesis' Plasma Waste to Energy System in
Europe, the introduction of a Steam Plasma System for the destruction
of ozone depleting substances within the appliance recycling sector and
the demonstration of advanced material production in the Mining &
Metallurgical industry using plasma.
"The incorporation of novel plasma based technologies into the Oil & Gas
Sector is a long time in the making, and PyroGenesis is proud to be a
leader in introducing the advantages of plasma into this multibillion
dollar industry", said P. Peter Pascali, President and Chief Executive
Officer of PyroGenesis. "PyroGenesis is confident that a positive
economic outcome from this contract, which will be completed in the
next few months, will ultimately result in a full scale industrial
plasma installation worth several million dollars."
"PyroGenesis has found that the Oil & Gas sector is highly receptive to
cutting edge technologies, and are willing to invest in technologies,
such as PyroGenesis' patented plasma based solutions, which can have a
significant impact on their current and future profitability", said
Gillian Holcroft, Executive Vice President- Strategic Alliance for
PyroGenesis , "PyroGenesis' strategic decision to target the Oil & Gas
sector is rapidly gaining traction and it seems that this industrial
sector will quickly become a significant contributor to PyroGenesis'
bottom line."
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
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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
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revise any forward-looking statements either as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
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SOURCE PyroGenesis Canada Inc.