MONTREAL, June 3, 2014 /CNW Telbec/ - PyroGenesis Canada Inc. (http://pyrogenesis.com) (TSXV: PYR), a TSX Venture 50® environmental solutions company that
designs, develops and manufactures plasma waste-to-energy systems and
plasma torch products, announced today that the Company is on schedule
to deliver its second commercial Marine Plasma System to Huntington
Ingalls Newport News Shipbuilding (HI-NNS) in 2014. This contract is
now 80% complete. HI-NNS will be visiting the Company in June as part
of this contract. In addition, PyroGenesis has been selected by the
Canadian Armed Forces as one of only three Quebec companies to be
visited by a contingent of sixteen Canadian Defence Attachés. These
Attachés, who will be stationed internationally, have been tasked to
assist in identifying defence related business opportunities for
Canadian companies.
"PyroGenesis is honored at having been selected by the Canadian Armed
Forces as one of a select group of companies for this strategic site
visit", said P. Peter Pascali CEO and President for PyroGenesis. "This
is an incredible opportunity for PyroGenesis to leverage off of both
Canada's international reputation and the global reach provided by the
Canadian Defence Attachés".
"Our Marine Plasma System is extremely compact, easy to operate,
reliable, inherently-safe and environmental friendly. As such these
unique characteristics have led to new opportunities with smaller
military vessels and mobile land-based waste destruction applications.
We are currently targeting near term opportunities within the Canadian
and US Navies for smaller military vessels and the upcoming visit by
the Canadian Defence Attachés will further strengthen this business
line", said Gillian Holcroft, Executive VP Strategic Alliances for
PyroGenesis. "We believe that our commitment to engineering excellence
has been a key factor in ensuring our long term customer relationships
and to being recognized by both the US Military and the Canadian Armed
Forces as a leader in state of the art military plasma based
solutions."
"PyroGenesis is accustomed to working with the US Department of Defense
and their prime contractors who expect their suppliers to deliver
quality products on time, meeting the most stringent and demanding
military specifications. We are proud to be a key technology provider
on the US Navy's most advanced technology platform," said P. Peter
Pascali, President and Chief Executive Officer of PyroGenesis. "With
the PyroGenesis Marine Plasma System specified into all future
Ford-class carriers, the retrofit market for the Nimitz-class and
Enterprise aircraft carriers - potentially eleven ships in all -
represents a revenue stream to PyroGenesis of approximately $50
million, not including revenues from land-based applications. Clearly,
the potential sales from this new land-based market, for our accepted
marine-based technology, are much greater than the $50 million
projected for the US Navy."
About PyroGenesis Canada Inc.
PyroGenesis Canada, a TSX Venture 50® company, is the world leader in
the design, development, manufacturing and commercialization of
advanced plasma processes. We provide engineering and manufacturing
expertise, cutting-edge contract research, as well as turnkey process
equipment packages to the defense, metallurgical, mining, advanced
materials, oil & gas, and environmental industries. With a team of
experienced PyroClassTM engineers, scientists and technicians working out of our Montreal
office and our 3,800 m2 production facility, PyroGenesis maintains its
competitive advantage by remaining at the forefront of technology
development and commercialization. Our core competencies allow
PyroGenesis to lead the way in providing innovative plasma torches,
plasma waste processes, high-temperature metallurgical processes, and
engineering services to the global marketplace. Our operations are ISO
9001:2008 certified, and have been since 1997. PyroGenesis is a
publicly-traded Canadian company on the TSX Venture Exchange (Ticker
Symbol PYR.V). 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.
