- PyroGenesis Canada (TSX:PYR) has sold an unspecified amount of titanium metal powder for additive manufacturing to an aerospace entity in Spain, marking the company’s first European order for metal powder
- The contract was enabled by PyroGenesis and Aubert & Duval’s mutual decision to end their exclusive distribution agreement
- PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gas emissions
- PyroGenesis stock has given back 51.01 per cent year-over-year, and 34.46 per cent since 2019
PyroGenesis Canada (TSX:PYR), an environmental technology stock, has sold an unspecified amount of titanium metal powder for additive manufacturing to an aerospace entity in Spain, marking the company’s first European order for metal powder.
The client, whose name is being kept under wraps, develops advanced aeronautics technologies for the European aerospace industry.
The order, already produced using PyroGenesis’ NexGen plasma atomization system, is for titanium metal powder with a particle size range of 15-63µm, which is ideal for laser-bed additive manufacturing, including direct metal laser sintering and selective laser melting, both widely used in the fabrication of complex metal compounds.
The contract was enabled by PyroGenesis and Aubert & Duval’s mutual decision to end their exclusive distribution agreement for plasma-atomized titanium powder, allowing the company to pivot to a direct-to-customer strategy.
Metal powders fall under PyroGenesis’ three-tiered solution ecosystem to capitalize on the economic drivers of heavy industry, specifically the commodity security & optimization tier, where the company focuses on recovering and enhancing the production of critical metals and materials such as titanium.
Management insights
“This contract represents our initial commercial metal powder order from a European client, a significant milestone under our new direct distribution strategy. We are experiencing an increase in activity from Europe and are currently engaging with additional European clients interested in acquiring our titanium powder for their additive manufacturing needs,” Massimo Dattilo, vice president of subsidiary PyroGenesis Additive, said in a statement.
“As many of our longtime investors will know, over the past several years we designed, then readied, our new NexGen plasma atomization process with a goal to produce the highest-quality metal powders in the additive manufacturing industry,” added P. Peter Pascali, president and chief executive officer of PyroGenesis. “As commercialization progresses and initial orders are received, our strategic initiatives continue to advance as well. We are gaining valuable experience in producing powders that cater to a variety of additive manufacturing applications including, but not limited to, laser bed, electron beam, binder jetting, and direct-energy deposition technologies. By ending our distribution agreement with Aubert & Duval, we have essentially eliminated the middleman, thereby reducing costs to the end user. As can be seen from the announcement today, we are now successfully selling directly to European-based clients.”
About PyroGenesis Canada
PyroGenesis Canada designs, develops, manufactures and commercializes advanced plasma processes and sustainable solutions that reduce greenhouse gas emissions. Its patented technologies are being vetted and adopted by multi-billion-dollar industry leaders in iron ore pelletization, aluminum, waste management and additive manufacturing.
PyroGenesis stock (TSX:PYR) last traded at C$0.48 per share. The stock has given back 51.01 per cent year-over-year, and 34.46 per cent since 2019.
Join the discussion: Find out what everybody’s saying about this environmental technology stock on the PyroGenesis Canada Inc. Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.